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@squid
Try to read more than the first sentence of the posts.
Not really, im at work.
Will be interested to see come Mon/Tues to see if any TR-1's appear. See if any of the big holders have sold or even bought more. This could all just be minor players panic selling. There appears to be a lot of volume but at the current price, it sin't exactly massive amounts of money changing hands. Still bricking myself but holding and hoping!
"i'm grasping straws at the moment but I think this can still turn around"
Are you in the beer garden again Tegop?
Stanley.
I get that and agree re:D4E
I'm grasping straws at the moment but I think this can still turn around. There is no mention of earnings report which should have been this month if it was not delayed to september.
They mentioned the previously disclosed methods of cost saving and enhancing liquidity is/was insufficient to relieve liquidity issues for these quieter months. I.e another small loss for h1?
But what are the new deleverageing transactions that could cause significant reduction in equity interest?
Well, I'm down 78% , with an average of 36.1p
So you lot chill out :-)))))
sammy, I guess important bits have been accentuated in upper case to teach 10-year olds to read regulatory statements. We're not in primary school nor betting on horse racing. CW's business is fully functioning and it clearly says they are exploring all options. Where does it say that "the best case scenario" is D4E? The best case scenario would be borrowing more money to solve short term problems because dilution makes absolutely no sense at current levels. You do not dilute after a crash! Look at Amigo - their business has been dysfunctional for over a year with massive dilution on the cards and they're still holding on. Here, 8p is completely unjustified, the whole collapse is pure speculation. Why would they raise 1:1 at 5p when they could have made it 3:1 at 15p for the same amount and at a significant discount? Without giving any numbers on the amount etc. a so called "very significant dilution" is not really an option anymore.
AS A nation, Israelis are nothing but psychopaths. This is because of its long line of historical legacies starting from the ancient time up to the creation of Israel as a state. The Israelis are haunted by a superiority complex, emanating from words such as ‘chosen people’, ‘assured land’, etc. This sort of mindset has deluded them and made them adopt an air of uncompromising attitude, sometimes with stoicism, beyond the sensibility of realism.
If you Google " Israeli businesmen mannerisms "
You'll see for yourself what type of people they are .
If it gets to £1.83 , someone's gonna have to dig me up and pre chew my biscuits for me
:-)
Hell knows sammy.
However it does state measures (not all) are ones PREVIOUSLY disclosed.
So part the cost savings, strategic opening and closing sites.
There was for example the previously disclosed possibility of a listing of part/all of business on US exchange.
They had mentioned "I think" deleveraging current debt structure in the future also (but I thought that was at a point when business was better placed to negotiate such without shafting us).
They are in talks with more than one party also and I don't believe it is a done deal of one certain route out at this stage (yet).
Future uncertain as it has been for while I guess, but they seem to be at least reaching closer to a decision point.
£1.83 here we come ;-)
What's the gist then? Did they sell on the news knowing ahead of time they will make this kind of trading update? That would be illegal.
The after the event biscuit party is now being held at Elon Musks grand opening of the Biscuit Bar Planet Zonk .
This is on Saturday 55th of doctember.
Dress code applies .
Morgan Stanley have raised their price target of choc digestives to £ 55.50p
Sorry sections duplicated somehow, but hopefully can still get the jist.
What's that mean then Fun ??
"Cineworld is providing an update today on its current trading, liquidity position and capital structure and the ongoing impact of the COVID-19 pandemic on the Group. Despite a GRADUAL recovery of demand since re-opening in April 2021, RECENT admission levels have been BELOW expectations. These lower levels of admissions are due to a limited film slate that is anticipated to continue until November 2022 and are expected to negatively impact trading and the Group's LIQUIDITY position in the NEAR TERM.
Consequently, the Group has been taking PROACTIVE steps to ensure it has the balance sheet strength and flexibility to adapt to market conditions. This includes significant previously disclosed operational Cineworld is providing an update today on its current trading, liquidity position and capital structure and the ongoing impact of the COVID-19 pandemic on the Group. Despite a gradual recovery of demand since re-opening in April 2021, recent admission levels have been below expectations. These lower levels of admissions are due to a limited film slate that is anticipated to continue until November 2022 and are expected to negatively impact trading and the Group's liquidity position in the near term.
Consequently, the Group has been taking proactive steps to ensure it has the balance sheet strength and flexibility to adapt to market conditions. This INCLUDES SIGNIFICANT PREVIOUSLY DISCLOSED OPERATIONAL and FINANCIAL INITIATIVES to MANAGE COSTS and ENHANCE LIQUIDITY. The Group believes these steps are required to optimize its ability to MAXIMIZE ENTERPRISE VALUE as PART of the RECOVERY in the cinema industry."
In CONNECTION with these INITIATIVES, the Group REMAINS in ACTIVE DISCUSSIONS with VARIOUS STAKEHOLDERS and is EVALUATING VARIOUS STRATEGIC OPTIONS to BOTH obtain ADDITIONAL LIQUIDITY and POTENTIALLY RESTRUCTURE its balance sheet through a COMPREHENSIVE deleveraging transaction. ANY deleveraging transaction will LIKELY result in VERY SIGNIFICANT dilution of existing equity interests in Cineworld. "
My BOLD
very unlikely any major holders would have sold at below 10p
." Mooky and israel have 35% ownership combined."
Tegop, no they do not. The fund looked after for their kids has 20%
What we dont know is movements of last two days massively trading (c.25% of all shares).
These "could" have been huge moves up or down by one or more of the main holders.
The last trading update was on nov 2021. Telling us admissions on october for uk&I are higher than 2019 levels.
After that, there was no other trading update. Even after the stellar boxoffice from march to july.
It looks like cine can decide to hype up or fud their own shares at will without concern for private investors.
Mooky will need majority shareholder vote to dilute or 2/3 for debt to equity swap. Both are not doable with the sp. Or the vote count for that matter. Mooky and israel have 35% ownership combined.
If a studio were thinking of buying Cineworld, would the best time to buy be before, or after a refinance deal?
I'm just trying to 2nd guess the vague & unnecessary warning RNS. Especially since they are very cautious about releasing information normally.
Mooky needs 2/3 share holder approval for any debt to equity swap. Also small matter of you can only issue a certain number of shares. The stock market limits this, to protect share holders. Plus which lender in their right mind would swap their debt for worthless shares. I see a forced takeover. Mooky and co to go and new owners to right the ship. IMO
Guys, I was always reading your posts here since 2020 when I started my long position in Cine. After 2 years I got liquid with 30K lost. I never gave up in my life but this time I believe that I should. If I compare Cine business with Hertz or Whiting Petroleum, It is obvious that the company will continiue to run and will make mony for owners. But who will be the owners? I don't believe that Cine can do any refinance... and increase his debt. It's already challenging to handle the existing debt which will be probably increased a little in coming months. I believe the only solution to get rid of this condition is somehow swapping share to debt.
I guess company will issue vast amount of more shares and swap them with debt. Not sure how much slice will remain for existing share holders if anything remains?!
Thanks HNS_77 good to hear from you too. I think we have suffered enough already without the dilution! The huge number of buys we have seen though suggests buyers aren't worried?
Yes I agree it's too vague to draw any conclusions but I really hope you aren't wrong :-)
I'm half asleep ill have to re-read again tomorrow... :-)
Cineplex analyst cuts target as one-time buyer faces cash crunch
https://www.bnnbloomberg.ca/cineplex-analyst-cuts-target-as-one-time-buyer-faces-cash-crunch-1.1807432