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Dividend in December 2019 was 2.87p so I’m quite hap to wait for the return and get my £4300 a quarter when it’s reinstated. I sup the the cast will now go to reducing the debt but thing are looking up at last. Top Gun Royal premiere on Thursday and on the 27th it’ll be screened for the public. This will boost Cineworlds revenues without a doubt.
Next year I will be more strict with myself lol
@BlueBuxton, no I haven’t. I have taken that one on the chin, perhaps Alicja thought that I no longer had a question, and plus she asked ‘any further questions’ after the last one, so I will take liability for that one :)
@mountainous yeah that was my plan too with the dividends :-) I only wish I could afford another top up at this price
Did you send the rest of the unasked questions to Scott BTW? I was thinking of writing to him pointing out you should have been allowed to ask more since there was only one more remaining question after you so they are aware next year
Planning to invest gains in growth stocks, safer bet for me and my heart.
I am planning to hold forever as long as the company survives and continues to do well (which I anticipate it will).
At this price, you can buy so many shares that dividends will be a huge addition to your yearly budget if they get reinstated and if you buy enough in my opinion, that would be fantastic.
Anticipating it to take many years, but I’m happy to wait :)
id sell at 120p myself... but lets see
Thanks RS2002 as I also thinking the same way, SP can move to 100p first in couple of weeks once some news updated on court case or even before, then 120p to next stop easily.
One reason that we didn't get much update and positive news from Mooky is that he probably think that will harm the appeal to reduce the payment, otherwise movies and revenue is coming up nicely and CINEWORLD is well recovering after the pandemic IMO.
If I am out at this price then surely going to miss the boat as rise will only do in couple of weeks and not able to buy in the middle as we may think it will drop etc after little rise, and then disappoint end of the day.
Other thing is that, SP is at historical low now and this is the time to buy and hold for while as 90% of chance to go north from here.
DYOR.
LPD, I can genuinely say the current share price does not bother me in the slightest. Many here would differ as their investment strategy differs. I am here for 180p+ on the basis the appeal is successful or damaged significantly limited.
Until then I am interested in the performance of the box office and receiving updates from cineworld on admissions.
My average is 30p so whilst I’m 20% down, I can appreciate others may be nursing more paper losses. My advice is don’t get emotional and keep exercising patience. Institutional and inside investors are holding and have much invested. I have yet to see a TR1 with a significant reduced position.
You would think RS2002 that this time around, given that there are substantially more permutations for a reduction in the award, that the share price might actually do the converse of last time and rise substantially into the appeal date.
Meanwhile I'll be doing my bit, booking tickets and concession items and contributing to the coffers.
Morning LPD,
Like you, I see this as a 3 pronged attack.
1. Dispute the earlier judgement that Cineplex did not deviate from standard business practice. One could argue, Cineworld were then within their right of standard business practice to pull out of the Cineplex acquisition to save money and misconstrue that it was a standard business approach. It was not. Cineworld cited Cineplex breached not one but several business covenants.
2. Cineplex were never benefactors of synergies. That would be to the acquirer of their assets, namely Cineworld. Thus, behind lost transactions ($5.5m) there was no award to be granted to Cineplex.
If 1 and 2 don’t see reason for a successful appeal…
3. Any damages should be offset against current debt between entities which would significantly reduce any award (which would not be enforced and Cineplex would struggle to claim).
As I posted earlier, I am very pleased with the strategy and I believe Cineworld and their litigation team have got their act together and present a very good case to repeal the earlier judgement.
It is my belief Cineplex will try to negotiate out of court as the appeal from Cineworld reads very strong.
Thanks for the postings on the appeal and counter appeal threads.
So essentially an appeal on two fronts.
1. The trial judge erred in her interpretation of the Arrangement agreement / contract. Scope if the appeal is upheld is a potential reduction to Nil.
2. The trial judge erred in her damages award. CPlex's counter claim seems to be to try and obtain another form of damages instead. Only one of which (loss of benefit to shareholders) is marginally higher than the existing. Was argued at trial that this was a non-starter due to the ever changing nature of the shareholder base - and no permission to act on their behalf. All others are for lesser amounts.
Not much to lose and a heck of a lot to gain.
Just imho.
3 Higher Court Judges involved this time as opposed to 1.
I’m the mean time, CINE is going to kill it this summer. Top gun, Jurassic park, Thor, lightyear!
It has a court date therefore there is substance to the Appeal.
Counter appeal has been lodged by Cineplex which is their entitlement is trying to argue that if the court upholds Cineworlds appeal on the part that the trial judged erred on appotioning damages , then they are trying to seek alternative damages through a revised method of working out - all of which from memory are for lesser amounts.
Expecting either zero or a substantial reduction all the way down to the break fee in the agreement and transaction costs.
Funinvestor, they don’t have to pay but it would go a long way to pay if really required.
Whilst they are not forced to pay, it could massively affect future acquisitions and potentially in acquiring financial aid.
I would add, I think it’s unlikely the judgement will hold and the appeal should overturn the decision.
HNS, regards Cineplex being unsecured creditor and it being "impossible to enforce and damages payment".
This to some extent has me beg the question what is the point of initial court case or this appeal?
While they may never be able to receive a single cent, is their "win" option to have a major global player in their industry removed from the "competition"?
Possibly allow easier access to expansion for themselves??
For those stating Mooky confident of appeal win, we want that as shareholders obviously. However let's not place any true significance on it.
He and most here were confident of win in original court case let's not forget.
Personally hopefully while still fearful. Currently like most here now in an all or bust position now
I don’t hear anyone saying a Cine win is a foregone conclusion - I think there is a strong argument to overturn but in the end the 3 appeal judges can chose to side with cineplex. I plan to hold simply because I think the upside of a Cine win outweighs the downside of losing for the reasons that have already been discussed i.e it’s impossible for cineplex to enforce the judgment and receive any damages due to their status as an unsecured creditor
As is usual, SP can rise, fall, or go sideways. Only the shorts seem to be sure of the future.
The only thing I am sure of is as long as the tills are open and screens show movies, CINE will make money.
Dear all thanks for the thoughtful comments on my query.
Regards SP I don’t think it will move much at all until this settled one way or the other irrespective of strength of film slate.
Once it’s done we should hopefully see a significant rise.
Let's be honest everyone who had an interest in Cineworld thought we would win the initial case meanwhile in the Cineplex camp thought they would win, nothing is certain with the appeal , we have a few months of good films ahead of us which will bring in much needed revenue, but we still have the debt and that's not going away anytime soon. I've been in and out of Cine since initially buying at 41p but I'm very worried the way things are going and relieved that I sold most of my holding at a higher price, I'm not committing to any other purchases yet but hope it comes good for all LTH.
Will the SP hover around this mark until Oct 22, or do ppl feel it will increase steadily give the strong movie slate?
Could go either way. Wow if we win though , I’ll be sooooo happy.
If mooky is so confident, & everyone thinks cineworld will win, surly plex would try & negotiate ? Mooky keeps saying he is confident, but cineplex didn’t say anything on there update, apart from the court date
Settling the case at this stage doesn’t really make sense for either party - Cine have a chance of getting this reversed and thus paying nothing at all, on the flip side Cineplex already have a judgement in their favour - if the appeal fails they have even more leverage to get a better settlement deal ( given then know that They will see 0 of their 1bn damages due to being an unsecured creditor)
That is why I see this going right to the wire and everything rests on the post appeal result
@Fredster, now that a date is set in stone, my only thought now is that Cineplex MAY still make an out of court settlement if they see that the court proceedings go bad for them.
So if anything is to come, then it would probably be between the end of the court date and the release of the result, and that is only if the court proceedings go very bad for them. All in my opinion.