A Cineplex theatre at Yonge and Eglinton in Toronto on Monday December 16, 2019. Photo by THE CANADIAN PRESS/Aaron Vincent Elkaim

TORONTO — One of Cineplex Inc. ‘s shareholders is calling on the theatre operator to embark on a major share buyback program and sell what it considers to be non-core assets like its loyalty program to deliver more value to investors.

Florida-based investment firm Windward Management LP said in a letter released Monday to the Cineplex board that it feels the company’s shares are worth nearly three times what they are trading for today.

While Cineplex shares were up almost six per cent at $11.33 on Monday morning, it’s still well off its pre-pandemic levels where it traded above the $30 mark in early 2020. In 2017, the stock had topped $50.

“Over the pa

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