Member Info for AJones

They are never going to raise £290 Million, and they are NEVER going to ask for anywhere near that! I have never read something so silly!

Good Luck to you!

Market cap this Morning was £40 million and net Debt was $21.2 Million meaning if someone wanted to make a serious offer for the business it would have to be at least 35/40p a share which I cannot imagine anyone would want to do as this would cost them over £100 million. I can see them getting an offer of about 25p a share and stating that they recommend that it is accepted as they need the cash asap. I was in Lamprell and something similar happened! A silly RNS Like this (Apart from Lamprells did state that if they do not get investment then they would go bankrupt) - The share price dropped and then an offer came in for 9p and BOD recommended it was accepted.

What part of the RNS indicates they have tried a placing and failed? As I cannot see that.

Wouldnt a higher share price means less dilution? Why would they want the SP lower for a placing? That wouldnt make sense

You would need to add at least 2 zeros on to your £1 Million :D

Potentially! The share price has dropped to make it more appealing!

Yearend had assets at $70 Million + So they should be able to restructure the debt against the current assets (Not taking into consideration the value of the mines) - I cannot see them having any problem gaining funds based on the assets they have! The question is how are they going to do it? Which option will they take?

That is my thoughts! I do not get RNS like this! They would be better saying we need to raise X amount at a discounted price of X - On a positive if they can restructure debt with no placing then this should rise quite well! Especially if Copper prices rise in the coming months!

Haha very good point!

Seems daft though such a drop! Do you think it is because of how open ended the RNS is? It just seems like a pointless RNS if they are not sure what they want to do!

"At this stage, it is not certain whether the capital will be in the form of equity, a restructure of debt, or a combination of the two."

MMs trying to get hold drop the price and grow the price and take a good Friday Profit! Dont sell cheap!

At what price if it keeps going down like this! Companies really do annoy me when they release very open RNS

Very strange drop? I cannot figure it out!

They are going to use the Chapter 11 to their advantage and negotiate the best terms possible!

Landlords we want reduced rent to help us through the next few years - Landlords no sorry we can't do anything - Cineworld okay then try and find someone to fill our sites when we go bust!

Cineplex $1 Billion Settlement - Accept $100 million or get nothing!

Lenders - Restructure on better terms or risk getting nothing!

@Fig - I dont mind him posting comments but he really does twist things and post inaccurate data!

@eddie but you use the words "all but confirmed it" so that is not 100% is it?

It is whatever is best for yourself and what you think will happen going forward. At present no one knows 100% what is going to happen, and we are all waiting for that RNS from the company to put us on the right track.

@eddiemorra777 - How can you say 100% without any form of evidence? Is it likely maybe is it 100% definitely NOT!

@Billypugh - The newspapers hit with Breaking news Cineworld is bankrupt! So everyone panic sold as you know!

The RNS released by the company clearly stated, "a possible voluntary Chapter 11 filing in the United States" It is definitely not hear say but it is not guaranteed either! It is one of the options they are considering. There are a number of scenarios that can happen with this and not all them are bad!

The strategic options through which Cineworld may achieve its restructuring objectives include a possible voluntary Chapter 11 filing in the United States and associated ancillary proceedings in other jurisdictions as part of an orderly implementation process. Cineworld is in discussions with many of its major stakeholders including its secured lenders and their legal and financial advisers.

Any such filing would be expected to allow the Group to access near-term liquidity and support the orderly implementation of a fully funded deleveraging transaction. Cineworld would expect to maintain its operations in the ordinary course until and following any filing and ultimately to continue its business over the longer term with no significant impact upon its employees. As previously announced, any deleveraging transaction would, however, result in very significant dilution of existing equity interests in Cineworld.

Cineworld's evaluation of these strategic options remains ongoing. A further announcement will be made if and when appropriate.