Member Info for Chipstacker

You're very welcome - Acuity are in the preparatory stages of liaising with the American legal team who initially assisted the shareholder group during bankruptcy proceedings in the US. Things are steadily moving forwards, but to emphasize to holders who have requested frequent updates, the completion of this process could take years, rather than months. The shareholder group is 100% committed to seeking a fair resolution for all holders, and will continue to provide updates on this forum (likely on a monthly basis).

Thanks

Chip

Luke13, just to let you know that the domain is now working, so please re-send your e-mail so that your holdings can be added to the register.

Thanks

Chip

Thanks Luke13, I'll chase this up with the domain holder today. Ps, regarding today's news, we are informing Acuity now: https://news.sky.com/story/cineworld-plots-blockbuster-sale-of-british-cinema-operations-13149740

Dear All,

Just to let you know that detailed discussion continues with Actuity Law, and the shareholder group will shortly be back in touch with an update (hopefully within the week). Life has got in the way the past few weeks, hence the delay in posting on here.

Thanks,

Chip

Hi Takeapuntortwo, apologies for radio silence - the Shareholder Group likely has a record of your holdings, but just to be safe, please could you e-mail info@cineworld-shareholders.com with number of shares and their total cost.

As an update, an e-mail will be going out to holders in the next couple of weeks regarding next steps - Acuity have outlined the broad detail of the legal challenge that is most likely to succeed. Just as a heads-up, a small contribution will be asked of holders to cover the cost of an official lawyer's letter instructing Cineworld of our legal challenge (this is a formal and necessary part of the process). The letter will cost sub £10k (precise figure not yet confirmed; I'll let you know when I do); we have a couple of hundred people signed up to the shareholder group, so if everyone chips in then it shouldn't break the bank.

Ps, I share posters' pain of having their Cine holdings vanish - not a nice feeling, but not the end of the road! I read with interest that the Neil Woodford fund debacle reached a settlement this week - I'm not trying to get anyone's hopes up (including my own), but it was reassuring to see investors get at least something back from the tawdry affair.

Cheers, and I'll post back on the board with more info as it becomes available.

Thanks @maidit308, much appreciated 👍

Acuity Law have responded with a detailed overview of the merits of the shareholders' legal case, and have made suggestions of the avenues most likely to succeed. The shareholder group will meet online with Acuity this week to discuss. I'll be back in touch following this with an update. Cheers all.

Morning all, Happy New Year. Just a quick one to let you know that Acuity Law continue to look into the shareholder group's legal action. They will let us know as soon as they have received a full response from counsel (who is going through the group's documentation in detail). Best wishes to all for your 2024.

Hi All, apologies for the delay. No update from Acuity Law as yet. They'd expected to able to confirm whether or not they'd be able to represent the case by 17th November (as per my previous post). I'll chase this up with them today and feed back asap.

Ps, Dean36, can you provide additional detail on the 1p payout you reference below? I haven't heard anything about this. Thanks.

A positive update - Acuity Law have agreed, pending final agreement by their advising council, to represent the shareholder group's case on a no-win, no-fee basis. Final go-ahead (which we hope will be given, but it cannot be guaranteed as yet) is likely to be provided between 6-17th November. I'll share a further update as soon as possible.

No update as yet, Acuity Law is continuing to go through the group's compiled documentation. I'll provide an update on here as soon as one is available. Thanks

An update on the recent meeting between the Cineworld Shareholder and Telegram Groups:

"Hi everybody, this evening I had online call meeting with the Cineworld group regards to what is currently going on with the legal challenge with Cineworld. The current law firm named Acuity are still looking into our case and going to confirm if the legal side of things can be challenged on a No Win No Fee basis. The barrister at Acuity firm will get back to the team. The Cineworld team have chased this up and they are getting automatic email reply stating they will be back into offices on the 18th September 2023. It looks like many are currently on holiday. The Cineworld group has also got another well known legal firm named Penningtons as a backup if things don’t turn out well with our current firm. Penningtons legal firm have emailed in, and want to take on the legal challenge. The group have also mentioned this to Acuity Law firm to make them aware that we do have a backup firm whom are ready to take our case.

The Cineworld group has mentioned if anybody has not yet provided their current holdings to the group, please do email in at; info@cineworld-shareholders.com this will help with the legal challenge. To anybody whom are keen and willing to take part in helping the challenge in any way this will be much appreciated and those individuals can email the group with their thoughts and ideas to the above email provided.

Another point to consider, as the Cineworld group have found a firm whom can help on the No Win No Fee, is a great advantage for us all, majority of large well known firms would want large amount of funds before they can start with the legal side. We all need to be patient, as this a large company and the amount of work which needs to done from the legal side of this case."

Hi All, apologies for the delay in providing an update. Work and life have got in the way, as they often do ;) Acuity Law are continuing to go through the Shareholder Group's collected information and documentation. I personally find this reassuring, as they are giving our documentation (and our case) the time and effort it deserves. The group will request an update later this week. The group is new to legal proceedings (thankfully), but it is clear that a case of this size will take some time to resolve.

MIKODX, please could you provide some more detail or a link to information regarding the consolidation you have mentioned, in case it is useful for the legal team?

Just to flag that the shareholder group e-mail address is info@cineworld-shareholders.com

Not cineworld's'

Thanks

Stanleypro, is there any evidence of Alixpartners being on CINE's payroll (as is alleged, just covering my a** here!) It will be useful information for the Shareholder Group to pass on to the UK legal team (who will be appointed today - we have a final call with one of the firms this afternoon).

Ps, the law firms we have spoken with have said that now (i.e. once the administration process has formally begun in the UK) is when we can actually take action. First step is contesting the official valuation, and providing our evidence that it was inaccurate and done in bad faith. We have letters and information to this effect good to go; once the law firm has been chosen, we'll be letting fly.

Https://www.theguardian.com/film/2023/jul/21/dcms-championing-uk-film-industry-as-hollywood-struggles

Good to see

As an update from last week, the Shareholder Group has located three (quality, London) firms who have, in principle and subject to sign-off from their funding panels, agreed to work with us; two on a 100% no-win, no-fee basis, and a third who would be open to a part-funded arrangement. Each of the three firms has experience in dealing with similar cases on a similar scale. We are waiting on a formal proposal from one firm, and an agreement in principle from another, following receipt of which we will commit to one firm. I'll send an update as soon as possible following this.

In the meantime, if you haven't provided the Shareholder Group with your name and number of shares held (which, as previously outlined, will be helpful for our case), please e-mail these details to:

info at cineworld-shareholders dot com

With thanks, The Cineworld Shareholder Group

No that's fine, thanks for spreading the message. Cheers

Hi there, I just sent a test e-mail and it got through; just to check you're sending it to:

info at cineworld-shareholders dot com

The dash (-) is the easily missed bit.

Cheers

By way of a quick update, the Cineworld Shareholder Group have started meeting with quality UK law firms regarding representation of our case on a no-win, no-fee basis. Whilst obviously not being able to go into detail at this early stage, a meeting held this morning was positive. We'll be meeting with a few more firms before the weekend, and aim to select one by Monday latest. As specified by the firm we met with this morning, it would be very helpful if you could please e-mail your name and number of shares held to the following address:

info at cineworld-shareholders dot com

The more names and share holdings we can evidence, the stronger our case. Please note that if you previously sent these details to group member Ionut Grama as part of the US proceedings, you won't need to send them again (as we're keeping an updated list on file).

Thanks again, and i'll post back after the weekend with an update.

Pamajju, thanks for flagging this, a dash was missing. The correct address is:

info at cineworld-shareholders dot com

Cheers