Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
I emailed that email address - Info@cineworld-shareholders.com - on 22nd Feb 2024 but got no reply. I then emailed again on 2nd May 2024 and still received no reply.
I said number of shares, share price, total transaction cost and gave my name and phone number. Still never received any reply back. Thought i'd post this here for what it's worth.
That was a very old past ( april 10th, over a month ago). Just looking for updates. Still hoping to sue the pants off of those crooks. A pennies on the pound settlement could work.
mr kioto, very strange posting from you on here.
on the 10th of april you asked "any news?"
on the 14th of april you provided a detailed update, including the statements "we have received a first draft opinion from council last week. paul, the solicitors and i are reviewing and will be asking for a few changes to help improve our chances of getting funding for an action against cineworld." and "beyond that… it is still just paul and i working on this"
so i question how on the 10th you were looking for an update but on the 14th you yourself provided one, and said you are working on it......
sorry, mixed nmessages it seems to me.
shame you havent moved on, i can assure you this will come to nothing. every investment you make has a disclaimer, to cover their ****s. win some, lose some.....................
Dear All,
Just to let you know that detailed discussion continues with Actuity Law, and the shareholder group will shortly be back in touch with an update (hopefully within the week). Life has got in the way the past few weeks, hence the delay in posting on here.
Thanks,
Chip
Info@cineworld-shareholders.com
Theres a telegram group which gets updates also.
Email the above with your holding and average price.
Hi, New to the group but lost significant shares in Cineworld. Would be interested in assisting in the action against them. How can I touch base with the principle organisers here?
We have received a first draft opinion from Council last week. Paul, the solicitors and I are reviewing and will be asking for a few changes to help improve our chances of getting funding for an action against Cineworld.
The next step will be to get a letter off to new board to notify that we plan to take action. That’s going to cost several thousand for the lawyers to put together so Paul and I are discussing whether we go out to the group to cover the cost of tis first letter or go directly to potential funders. Since there is a small chance that Cineworld will want to settle immediately and funders are going to want to take a significant portion of any settlement, even if they only put in a little money, we think that it might be wise to get the group to fund this first attempt to get them to settle.
Either before the first letter or after, we are going to have to pitch the case to potential funders. As part of this we’ll need to go out to the group to formalize our representation of the group. This will require that everyone who’s going to participate in the action provide a few more details on their holdings. For example, we’ll need to know the total number of shares held, average price paid, contact details, etc. Potentially, we may need to find a way to validate this, as a presentation to the courts that contains erroneous information, will get is into a lot of trouble. We believe that this part of the process will be quite quick but this will very much depend on ho quickly we can gather in the information we require and how strong a case we can present to potential funders.
Once we have funding in place the real work starts.
You should understand that this process is going to take many, many months or even years.
I’m curious and surprised that there are over 500 participants in the online group . I do not believe that we have anywhere near that number of people on our list of known shareholders. We will need the group that we represent to include as many shareholders as we can possibly include. This will help increase the size of the potential payout and help us find sufficient funding to get the lawyers to do their thing.
Beyond that… it is still just Paul and I working on this… Despite many requests to try to get others to help… No one has stepped up. Obviously, this slows things down quite a bit as both Paul and I have full time jobs and families that also require time and attention.
A more formal update will come as soon s we have the final opinion from Council.
**anymore recent update?????????????
Of course there are no updates? What are you expecting to happen here, all chipped in and got letter sent so Mooky has decided to refund all your money you invested? ITS NOT GOING TO HAPPEN.
For your own mental health, accept you’ve made a bad decision and lost everything you put into Cine. Put it down to experience and try to earn it back over time with other, less risky, investments.
Hi Chipstacker
May I know if there is any update from Acuity Law firm?
Thank you
WoW is fully correct.
Items held in an ISA are tax free.
That includes a tax loss free.
You can't have your cake and eat it!!
You gain the advantage with tax free profit, and suffer the dis-advantage with tax free loss.
I would have thought that at the point they fell out of your ISA and into your trading account and therefore your entry into the realms of capital gains the acquisition cost at that point would be zero (the market value at that date) and therefore zero loss.
I very much doubt you can claim a capital loss
For clarity:
by no market value, I mean that no value can be established because they are no longer listed.
The argument [if there is one] is that the zero value only came to pass later aftter courts have rubber stamped the stealing-deal. Therefore the value ascribed at time they are transferred out of the isa due to no longer qualifying is the book value as it was on the isa since no other value is available.
"I guess the question is that when the broker transfers the shares in that situation [when they are no longer traded and there is therefore no market value], what is their book value for CGT purposes according to ISA legislation. "
That's what I thought until I looked at the documentation from iweb just now.
On my ISA acct they sent a corporate action notification dated 2 august 2023 saying CINE cancelled admission to trading ... on LSE Main Market.
3 paras later says as no longer listed on recognised exchange, they no longer qualify to be held within an ISA. .... therefore we will transfer ... to your share dealing account.
In statement at end Sept still shows cine as inward/ouward stock adjustment with no of shares and no value mentioned. For end month shows a line with CINE and book value probably what I paid when I bought in the ISA.
Then in Feb 2024 have a corporate action notification that they are removed with no compensation ftrom the share dealing account.
In general I use the statements and the book cost shown on previous statement after a sale to determine capital gain or loss for CGT.
AFAICS I can do exactly that with CINE and record the book cost shown on the previous statement as a loss.
If that's wrong [it is unexpected but usually I fill my tax form in according to what the statements from the broker say], can someone point me to some rules from HMRC. I guess the question is that when the broker transfers the shares in that situation [when they are no longer traded and there is therefore no market value], what is their book value for CGT purposes according to ISA legislation.
What have other brokers said when they give corporate action notifications and subsequent statements with ISA shares forcibly removed to a non-ISA account but not yet disappeared completely?
For me this is a 20k loss shown on the statements so potentially 4k of CGT reduction assuming I never get the chance to take the CG without tax otherwise.
You can offset if the shares weren't held in an ISA account, but if you had them in your share dealing ISA you can't.
Hi there, does anyone who is a little more financially minded than me know if we can offset our tax liabilities (income or capital gains) against Cineworld loses?
May soften the blow a little.
Hi Takeapuntortwo, apologies for radio silence - the Shareholder Group likely has a record of your holdings, but just to be safe, please could you e-mail info@cineworld-shareholders.com with number of shares and their total cost.
As an update, an e-mail will be going out to holders in the next couple of weeks regarding next steps - Acuity have outlined the broad detail of the legal challenge that is most likely to succeed. Just as a heads-up, a small contribution will be asked of holders to cover the cost of an official lawyer's letter instructing Cineworld of our legal challenge (this is a formal and necessary part of the process). The letter will cost sub £10k (precise figure not yet confirmed; I'll let you know when I do); we have a couple of hundred people signed up to the shareholder group, so if everyone chips in then it shouldn't break the bank.
Ps, I share posters' pain of having their Cine holdings vanish - not a nice feeling, but not the end of the road! I read with interest that the Neil Woodford fund debacle reached a settlement this week - I'm not trying to get anyone's hopes up (including my own), but it was reassuring to see investors get at least something back from the tawdry affair.
Cheers, and I'll post back on the board with more info as it becomes available.
I’ve had notification too from Halifax Share Trading. All my holding completely gone.
How can we get a copy ?
Aj bell said the shares gone from account and can’t show the holding in account anymore
Thats great chipstacker , i read on here regular to see if theres any changes , do i have to register my holdings anywhere, ive done so before a wee while back
Thank you
Thanks @maidit308, much appreciated 👍
Acuity Law have responded with a detailed overview of the merits of the shareholders' legal case, and have made suggestions of the avenues most likely to succeed. The shareholder group will meet online with Acuity this week to discuss. I'll be back in touch following this with an update. Cheers all.
Thanks for the update Chip'' I still look in from time to time M8, and still hopeful no matter how long it takes..
ATB to you, and to everyone for 2024