Activist investor Windward Management has called on Canadian exhibition giant Cineplex to pursue share repurchases and assets sales to boost shareholder returns.

“Over the past year, we have had multiple meetings with the management team and have shared our views on value creation. While we believe we are generally aligned, we are frustrated by the absence of a sense of urgency exhibited by the Company’s leadership,” Windward said in an open letter to Toronto-based Cineplex made public on Monday.

Windward, which owns around 7 percent of the fifth-largest movie theatre chain in North America and the largest circuit in Canada, saluted Cineplex for navigating an ongoing recovery from the impact of the pandemic and the 2023 Hollywood strikes on its business. “Cineplex’s prudent decisions t

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