The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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I've been watching this today as well and agree it doesn't look good for Cineplex.
Case going well again today & Cineplex dropping nicely
Now had time to reflect in this properly and mull it over. If Cineplex took the Government backed Leeff program monies which ended up being a loan deal then that would have been a further loan and pushed Cineplex over the $725M debt threshold. Covenant breach and deal off. The only other option that appeared on the table was the monies for the Queensway deal for the surrender of lease rights and entitlements for which they agreed $25M. Tight deadline placed on it with consequences. But under the another clause or covenant they needed Cineworld consent for anything over $5M. No evidence of consent sought or agreed.
Maybe this is what the market is reacting to.
Without mentioning any specifics from yesterday there seemed to be a very large gulf between what was actually going on and what was being advised to Cineworld and with consent required imo on many of those aspects. Paper trail noticeably absent at all those key times. Worth remembering for when Mooky gives his evidence. If you watched last night you got a few tasters of whats to come. It left me wondering if things were orchestrated that way to make the Cineplex CEO reflect on their position.
I've been invested in CINE for about 8months now , I watched the sp fall to 85p then bought in , watched it fall again and topped up at 58p so now in the red with an average of 79p but am very confident I will be well in the green by Xmas. My advice, buy now before it goes any higher , I am not an expert only my opinion , do your own research its your money to risk , nobody else's.
22nd of October why not invest half the money you want now then half after the court case? By then we could be high touching 80p a share
I would invest in this share heavily if it wasn’t for the court case but unfortunately I’m not invested at all at the moment.
Does anyone know when it is due to be concluded ?