Roundtable Discussion; The Future of Mineral Sands. 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.
Jtan, right now I would say those who opened a spreadbet position, with high leverage suggesting this 100% curtains have done just that. A gamble in its truest form.
We will see as the weeks progresses. The shorters will likely see volatility in the share price of no RNS lands on Monday.
Believe it or not, investors have being holding before this news announcement.
Time will tell.
Morning everyone. The de-rampers are posting thread after thread to bump up their doomsday message.
There is nothing certain. Options are still being considered and this could go either way.
A recovery or bust.
Invest only what you can afford to lose and my advice is to now make that decision without the influence of others with an agenda.
As the evening progresses and another glass of cabernet disappointment turns to anger at the lack of information from Cine
I've been saying this since the court case verdict, so little news from the company.
Mooky's family's shareholding has been the biggest problem in this whole affair.
Because he didn't want to be diluted, all the various acquisitions were financed by debt instead of equity thus leading to an overleveraged balance sheet and instead of raising new capital via a Rights Issue when the price was over £1 which would have solved the liquidity and debt problems with manageable dilution.
Nope, instead debt was piled on debt.
Worth remembering (IIRC) when the initial problems hit he had to refinance his own holding which mean the had to sell so shares AS HIS OWN HOLDING was also leveraged to the hilt.
From the FT: Global City Theatres, the family trust of Cineworld chief executive Mooky Greidinger, said on Monday that it had agreed to sell a 7.9 per cent stake in the business for about £116m. Before the sale, the Greidinger family owned 28 per cent of Cineworld through GCT. It has sold 4.5 per cent of its holding to an affiliate of the Singaporean sovereign wealth fund. Citi analysts estimate the shares were sold at about 107p each — a discount to Friday’s closing price of 111p. The company’s board said the Greidinger family “remains a committed long-term holder” of Cineworld shares. The stake sale was, the company said, in order to restructure a margin loan provided by HSBC and Barclays into a secured corporate credit facility.
The one silver lining to this is that *IF* the rumours of bankruptcy are true then he and his family will be wiped out, so expect him to do everything possible to avoid it. Let's just hope that doesn't leave the rest of the stockholders to twist in the wind whilst he makes out with a lifeboat.
Me to rep, don’t forget all the bonuses he got as well, he must be starving
Think I could live on £10.9 million.
Don't feel sorry for him or his family
Wow.
*1373m apologies.
Mooky and his family hold 20% of the company in a family trust.
To put that amount into context of shares, they own (1037m * 0.2) 274 million shares which, pre-pandemic were trading at 197p each. They WERE worth, £539.7m. Today, at the woeful price of 4p, they are NOW worth £10.9m.
This has been devastating for all investors: insiders, institutional and private (ourselves).
Have a good evening, all.
Share holders all ways get screwed first, mooky has made millions in the last 2 years in bonuses, don’t think for one second mooky is thinking about private investors
New at ten story on Cine coming up
Financial times Febuary 2021 article of who gets what if they go bankrupt.
With a scale down main creditors get 90 to 100 cents in the dollar next in line 40 cents on the dollar. Cineplex get nothing
https://www.ft.com/content/949af51b-7807-41c6-a895-223519dfa221
They have debt and there meeting there financial obligations and moneys coming in and there making a profit.So surley its in everyone's interest for them to continue....
Pay attention, Aimmaster. We are discussing this latest (read: this evening) communication from cineworld. Within it clearly states it is evaluating options and the process is ongoing.
This could well be going bust/administration but it is not signed, sealed and delivered if the credibility of this communication is anything to go by.
Trying to make urself feel better lol when u hear words like BANKRUPTCY, SIGNIFICANT DILUTION. LIQUIDITY CRISES...Its not good news...u live with only Hope imho
I guess we will have to see how big the changes the creditors want to make. Maybe they force the sale of some theatres. Maybe they try and split up the business and try for a spin-off of Regal,” he said.
Doesn't sound like bankruptcy is the only option. Anyone wanna buy Regal?
if history repeats, they solve the financial and SP bounces [*5] next week or so
Read again, Aimmaster. It appeases consumers, yes. Operations continue but this makes it clear, strategic options are still being evaluated.
“As we announced earlier this week, we are proactively EVALUATING strategic OPTIONS to ensure we have the balance sheet strength and flexibility to adapt to market conditions, and that PROCESS REMAINS ONGOING.”
This weekend hardball negotiations will take place. No easy fix. Mooky knows this. He may be gambling that the banks have more to lose by a bankrupt Cineworld. Trying to get covenants delayed for another two years. I expect short will have to close bye end of play Monday, as the lenders want their shares back. Monday will be a fun day. Those who have sold at a massive loss, might just live tot regret jumping so soon. Time will tell. IMO
Let’s imagine for one second it’s bull****, no bankruptcy, or imagine how much revenue cineworld has lost now, all the customers with gift cards & monthly cards, asking for refunds. It’s will in every newspaper tomorrow sky news app, the damage has been done I’m afraid
That article is aimed at consumer...to let them know they're still open for trade otherwise ticket sales Will drop...bankruptcy is something that may happen behind the scene...the debt is just too high imho
If this turns out to be a bluff, it would amount to market manipulation. A leak to WSJ etc.
I have no idea right now if Cineworld will survive and I certainly don’t recommend anyone buy or sell. Go by your own risk appetite.
Good luck, all and remember, an opportunity to make gains will always exist in the market.
I couldn’t believe it but there it is. We are still exploring options, Cineworld say.
“All of our Cineworld and Regal theatres are open for business as usual, and we continue to welcome our guests and members to our cinemas globally.”
“As we announced earlier this week, we are proactively evaluating strategic options to ensure we have the balance sheet strength and flexibility to adapt to market conditions, and that process remains ONGOING. We are committed to our customers’ experience and to being the ‘Best Place to Watch a Movie’.”
Source: https://deadline.com/2022/08/regal-cineworld-bankruptcy-movie-theater-stocks-1235096328/