Member Info for ElvisRocks

Cleared internet cache, now works … back in business!

Anyone else still struggling to get onto Kroll website, saying down for maintenance

Hey up, the looney and his views that is ianharding is back, like a bad smell, we get more sense on Cineworld from a rocking horse trying to have a fart than ianharding

… I thought we said bye bye yesterday, we’ll try again, bye bye!

Hello Cruis, I hadn’t made that link between your two posts, it was more that the amendment to anti trust laws was 2020, and its not like the opportunity to buy 500 theatres comes up the next day or next month in a stressed transaction, now is their (the studios) golden opportunity to buy …

Does anyone know how much of the debt, in a C11 transaction, is linked to US Operations and when the bean counters finish their bookkeeping would this leave US writing off the debt and the creditors get their pence in the pound

In other words you cannot have a sale AND a dilution to UK and ROW operations, or can you, and by what amount?

Cruis, thank you for posting that article on anti trust laws, it’s got to be a no brainer that the major film studios are involved in some capacity as a potential buyer, think of their position if Cine went out of business and the AMC etc competitors simply don’t have the financial strength to put in a bid realistically

IanH … didn’t this board conclude you were full of bulls,, and you don’t know what you are talking about so we said bye bye to you …. feel I have to sound like a broken record so it’s bye bye again!

PS the lawyers bill slaughter and may particularly talk at length about a UK implementation plan … (whatever that means)

Noted Hexam, I was just contrasting what appears to be a change in position in even making a comment to anyone or anything in the media, remember b4 Xmas how they quashed talk of a break up sale with a “spokesman” stating to Bloomberg (on a Sunday night) that a break up sale was not going to happen

Even Cineworld exiting C11 as a whole seems to have got cold water now given the so called marketing process taking place

Looks like sale of USA is nailed on … a “Cineworld lawyer told insider” (this magazine)

Given how anal the lawyers were before Xmas with their whack-a-mole strategy, they now seem to be reversing their tune. Long may that continue and the continuation of the UK and ROW business … also remember investec also seem to be behind some of this

https://www.businessinsider.com/cineworld-looking-to-sell-save-local-regal-theaters-amid-bankruptcy-2023-1?r=US&IR=T

Sumon, you don’t sound like a novice, you sound like someone who knows what’s going on and are masquerading as an imposter, ie fake!

Bit of digging around, these are the key guys to the marketing process (the investment bankers to the creditors committee), they will have been doing loads of valuation work and helping with the beauty parade of potential bidders …

Page 10 ish is one of the big swinging dicks in on this, will be interesting to see their December bill when it hits the airwaves

https://cases.ra.kroll.com/cineworld/Home-DownloadPDF?id1=MjMzNjE1Ng==&id2=-1

For those who thought I was smoking something the other day when I said the creditors committee were interested in reviewing bargaining power over $4bn of goodwill and liens over it, page 33/34 is the place to read to see the answer is “yes” on this

https://cases.ra.kroll.com/cineworld/Home-DownloadPDF?id1=MjM0MDE1OA==&id2=-1

Hello Jeffrey young man, longtime no speak, I’m working on the basis those weasel lawyers are trying to regain a bit of street cred by being so upbeat about the sale and Mooky not being a turkey and voting himself for Xmas (even though he is Jewish and doesn’t celebrate) … my latest reading is from the advisor to the creditor committee being all over wanting to know about the debtors and the marketing process on the days before New Year’s Eve, page 13 or so in here

https://cases.ra.kroll.com/cineworld/Home-DownloadPDF?id1=MjM0MDE1OA==&id2=-1

The debtors tune seems to have become more upbeat.

Stanley young man, it is a given as ROW is excluded from C11.

Why would the last RNS warn of significant dilution if they knew that a sale could be achieved and in their own words in this weeks court document to “test a sale as a value maximising proposition as an alternative to equitization”

May sound a dumb question but if there is a sale would there still be a monumental dilution and on what basis? Surely if most if not all of UK and USA goes, we are largely left only with ROW which is debt free and worth more than current market cap?

Ernst and Young are doing heaps of work what they think the future most efficient tax (and organisation) structure should be - which will go in the Disclosure Statement and be pre cleared through HMRC - they don’t want such tax losses, they want to sell them to any buyer … $800m tax losses shielding $800m of long term profits, got to be worth $150m mark

or put another way how much is a debt free ROW business worth (I think it is debt free) and the tax losses - we may be left with nothing more than that, if all UK and USA goes

Would the recalibration of the market cap of such a business be without dilution, in other words as we are now. Mooky and his 20% will be in with us

Arnt the debtors trying to pull off a sale as an alternative to what they call “equitization” (ie dilution).

Hexam, I used to follow an international mining company that was going through a major restructuring (won’t bore you with the details) but it’s goodwill value was a potential deal breaker which is where it reminded me of potential relevance,

At some point when moving to new co covenants will need to be reset, the audited accounts become a reference point, wouldn’t surprise me to hear them changing the year end to 30 April if they can due to its strategic importance when number number crunchers get going …