Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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LOLZ.
So it's been changed to 'next couple of weeks' huh?
This is no better than a football transfer rumours forum.
I've said it before, we had this ages back when Alix were reported to be working with Cine to wind it up.
F-All happened.
Could the original WSJ columnist have just been putting meat on the bones on the RNS along with asking his mate on Wall St what he thinks and it's gone viral?
Pi55 myself if this turned out to be a massive case of 'my mate down the pub said...'
Wise words SP. The media would not know fact from fiction if it stared them in the face. Their atttention is to make headlines so they can sell the 5hit they produce.
As you correctly state ( and the media have been abusing as opposed) to using terms potentially, expected, envisaged and the oh so famous 'an insider source, who refused to be named.' None of this ie ever to be taken as factual information.
All set to scare and control people. The media do not report fact just what they want you to hear based on their agenda.
Some good posters on this board and added this to my portfolio yesterday and today.
I do do deeply feel for those that are down considerably. At the same time i do detest those that mock or take relish in this. Lowest form of life, prawns, bottom feeders. Remember they have their agenda too!
Regards and a great weekend to the truly invested.
If you were going bankrupt would you have paid your rent up to date strange
@Stanley BBC has a clearer article mentioning that it is a rumor. Everyone else has it at already bankrupt.
WSJ edited their article to 'within the next couple of weeks'. FWIW, I have come to terms with my losses.
I read EPR who are regals landlord in the USA are paid up to date by cineworld 9000 screens
Regal 6787 screens
Great philosophical post Bzohdan, ATB,:))))), Lvu333
The only ones that will come out of this smelling of roses are the owners who have already made sure things are in place to secure there financial position.
Everything thats now being written on this board is a total waste of time, just get on with your lives and stop wasting your time and energy on something that's already sunk and finished.
For all the people that's lost money, just remember that you can always recoup and replace earnings but you can never recoup time so don't cry over spilt milk just get on with your life and live love and look forward to the future.
Good luck to all
The End ...
@Tegop, I don't trust the media. Everywhere they say "potentially" or according to some sources (but not anyone from Cineworld). If we get a confirmation that CINE has enough liquidity to survive at least until the end of the year my strategy would be to just hold.
That is a very deep question and would require a lot more knowledge on this subject than I have.
What i will say however, is they are seeking compensatory payment for a contractual agreement that cineworld are claimed to have defaulted on.
I believe the original deal was around 2 billion dollars. Far from 100% sure on this.
What is the current value of the cineplex with regards to outright sale taking into consideration effects of covid 19?
The value would have diminished considerably. I suspect the compensatory payment they are looking for is the old agreed price versus current value. How on earth do you otherwise claim for such a payment.
I very much doubt that there would be any resuming of a such buyout.
A general rule of thumb is a company will put in a high figure for compensation. The respondent will put in a much lower offer. As a court date approaches there is in most cases an agreement reached on the amount via out of court settlement.
it is in the interest of both sides to settle amicably out of court and both sides i would add would be advised by their legal advisors on this in a roundabout manner.
Their legal representatives on both sides will point out what they consider a reasonable offer made and that by going to court they may well receive more but also run the risk of being awarded less or even losing the case altogether.
Regards
@stanley sorry i misunderstood. I thought it was original deal plus some%.
That merger was a disaster.
Plex mentioned in their recent earnings that they did not put cineworld damages in the balance sheet since they are unsure of cineworld's ability to pay.
They already know they are not getting the 1.2B it is just about getting an agreed amount, if a settlement reaally was on the table.
Tegop, not talking about the acquisition. Usually, a fine is a few %s of the original deal. 1.2$bn is just insane, I can only guess but they would be lucky to get anything above 100m.
Cineplex "alternative forms damages" could end up being an equity stake themselves as the best alternative reality ...they arent going to get $1.2billion and would have to fight for a valid stake in assets above current debtors ... what alternative would they likely have if they do get damages ??
I suspect Cineplex are at this stage just happy to not be the ones having to pay out on a court loss and know that nothing happens anyway until after an appeal ..... they probably know they are unlikely to actually get $1.2 billion , especially when they are down the creditor food chain anyway . Cineplex have filed for "alternative forms damages" in its cross-appeal
It really is a stakeholder headache and mess and shareholders are right down in the food chain queue and need the D4E
Are you suggesting they will resume the merger/buyout of plex? It will be a tall order to convince the lenders to allow that. But then again, the synergy damages is already a tall order.
I very much doubt that Cineplex shares any sympathy with us. It wouldn't be a catastrophe for them if CW goes belly up. Yes, they lose on legal fees etc. but not a game changer. For us, on the other hand this payout is everything. I would assume a realistic out of court settlement is a few % from the deal + expenses. Cineplex may not be happy about it but this would be fair.
I said something similar earlier. And I kind of agree. Or maybe hoping. Bluffing to plex that they will get nothing after cine goes bankrupt sends a big message.
There is 500m volume in the past 3 days. I wonder how many shares changed hands and how many institutions realized losses compared to retail.
Mooky and co, insiders, are not allowed to sell so they likely are also losing some.
I doubt very much there will be an RNS Monday morning. Just what do you expect Cineworld to report?
I would hazard an educated guess that Cineworld and cineplex are in negotiations regarding an out of court settlement.
In this case it is imperative that cineworld make their financial situation look as dire as possible. Considering bankruptcy certainly makes things look dire. It is an option they have.
That means if we cannot agree on an out of court settlement we will very likely pursue bankruptcy.
No good for cineworld and no good for Cineplex.
For those that think that cineplex will definitely go into administration put yourselves in Cineplex position. What do you hope to gain?
You cannot release an announcement to say, we are or we are not, going into administration.
This information would be used by cineplex. Primarily to indicate whether Cineworld are bluffing. In may very well be that Cineworld have informally offered an out of court settlement that Cinemaplex are refusing. in response Cineworld are saying if you want more then we will be forced into bankruptcy and are now giving this option due consideration.
Very much like playing a game of poker, I think you are bluffing, Ok then try me.
So in this instance a confirmation by Cineworld will not be released at this moment in time with regards to administration.
All current payments have been made up to date. That indicates solvency. As for impending payments, until such a time that payments are not being met then insolvency becomes a major option or in some cases the onl option.. Restructuring is a possibility depending on assets, turnover and amount of immediate debt.
Regards
if no RNS and no suspension by Monday morning and if trade resumes in a normal way, this will see 200%+ increase on the day