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Thanks Bonkers & Sammy, good work :-)
Well if nothing else at least it puts the ridiculous leak conspiracy theories to bed.
Yeah agreed Sammy Bonkers
Not set in stone and having waited this long anyway I've no intention of going anywhere until I get my exit price.
Mandy Rice-Davies.
*not ideal
Antmoss it's just ideal, and as Sammy says its expected not set in stone.
What ibwill say we are clearly here for that long anyway , will give us all something to chat about and look forward too lol.
There is a chance it could also come near results , could be a very intresting start to the year, especially with what's hoped a money making quarter
"Expecting " doesn't necessarily mean it won't come before a few months .
"A leak is highly unlikely as we are not expecting a judgment for another few months."
Looks like we're not going to get a conclusion to the case until next year then, possibly Feb.
Was hoping for sooner but it is what it is.
exciting**
^^ People who always criticise lending stock take note.
As many others have pointed out in the past, lending stock is a perfectly acceptable and has a number of uses beyond lending liquidity to the market. Banks often offset their risk by taking out shorts in a number of assets. Very little shorting activity is speculative. Some clients of investment banks often want long/short exposure to a given asset. This can be structured in such a way that the client gets the long/short exposure and the bank is left with the short/long exposure. In order to offset the risk the bank has taken on, they will in turn take out some long/short exposure to net it all off. These types of deals are often set up in complex derivative structures to transfer the risk from one party to another. The bank will take a small commission for enacting this but the risk is neutral for them.
Not as exiting as Christian Bale taking on Wall Street but there you go.
If you do find it interesting, take a look at any investment banks financial statements. You will find this activity disclosed in their activities. They usually include financial instrument disclosures too, which show their long/short positions across assets (equity, debt, derivatives etc.).
Seeing Sammy responce is pretty similar seems like a generic email , that said for that to happen the question has clearly been asked multiple times
Investor relations I'm happy to say responded.
I will add the only reason I sent the email was because quite a few posters questioned the timing of the short and giving its location some smelt a possible bit of foul play.
So made sence to see how they cine felt. Anyway here's the responce , i obviously replaced my real name with bonkers lol
Dear Mr bonkers
A leak is highly unlikely as we are not expecting a judgment for another few months.
Given the significant short and after looking at their investment strategy, it is most likely they have invested in Cineworld’s convertible bond and have taken a short position as a hedge.
Kind regards
Investor Relations
Cineworld Group plc
p +44 (0) 20 8987 5000
e investors@cineworld.co.uk
w https://www.cineworldplc.com/