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Good post Hexam, I did wonder similar to some points you outline.

It was of course totally unrealistic that a buyer would come forward with $6bn in cash and say ‘there you go lenders and now we will be just as generous with all the other creditors’, potential buyers will be at the lowest they can get away with.

Re ROW it is still a potential they could hook it into C11, the DIP arrangements that effectively locked them will be the hook. Like you I’m still thinking how much Mooky can get out of this and therefore us too.

Any thoughts why buys outweigh sells by 2:1 on Level 2 and what that may indicate…?

Tegop, do you see 27 Feb as scary good or scary bad given 21 Feb events, and if there is a Cineplex offer (which there seems to be), do you see that as good or bad, good would be in the sense of taking away a large uncertainty

Good post Wolffie, it does say the ROW is effectively excluded from C11 “for now” last Para, Page 2 of their day 1 announcement on their own website… it does make me think now and “where next”, could mookys empire be about to crumble and he be left with 0.00% or whatever in new co, whilst the lawyers bills may suggest they are planning for other Plan B eventualities, they may be running out of time

https://www.cineworldstrong.com/announcement/

Does anyone share a view that yesterday / today was “bad news out of the way”, should only get better from here?

I think you may have to go slower here Wolffie for thickos like me to follow, with a D4E now more likely (I’m surprised they totally took off the table a US listing btw), what would be your guesstimate for how many shares come into play in new co that then probably get consolidated in a 1:100 basis

On this scenario then, mookys 20% becomes worth what?

I tip my hat again to you Wolffie for being on the money and spotting docket 46 regarding ROW … how do you think this comes back into play to help us now?

https://cases.ra.kroll.com/cineworld/Home-DownloadPDF?id1=MjI3NTkxMA==&id2=-1

Thank you Wolff, I remember reading that particular docket on that a couple of weeks ago that you pointed out on this … does that mean the post dilution or pre dilution number of shares would apply to this “ROW entity” which now appears the jewel in the crown

ie is ROW effectively ring fenced from dilution or does it all go back to the negotiating board?

I know Wolffie loves these lawyers bills, here’s the latest what they are advising on non USA … it was the PJT and slaughter and may bills who link in with this on ROW exit funding, they have always known the USA is a problem even discussing the merits of a listing as well in the USA

https://cases.ra.kroll.com/cineworld/Home-DownloadPDF?id1=MjM1MDIyNw==&id2=-1

Hello LTH, I think I am correct in what I say since the information we have to hand (what the bod have been discussing) is emergence of ROW as a new implementation structure in the UK, in other words cast the UK and USA adrift..

I’ll post you the link shortly…

Mr Kioto, I have a similar question which is (I) can the judge now include ROW in analysis? and (2) if not is the same non diluted shareholding assumed for us all in ROW?

If the answer is No and No, then we should be more than ok as ROW emerges as a more than bright light, debt free or debt minimal and worth more than $60m. I then couldn’t care what happens to UK and USA

Hexam or Wolff, your views on this?

Bol…ocks did he say that J Casper

If they sell us and uk (where we get diluted and these get effectively spun off) but Cine keep ROW (outside c11), does that make overall dilution a weighted average of both, or do current shareholder percentages stay as they were for ROW if kept intact …

boredom my dear bonkers boredom, with the occasional question or statement thrown in to keep Wolffie clap trap ticking over … don’t worry Wolff ain’t between my two ears, last time I checked I had a forehead, two eyes, two eyebrows and a nose …

It’s an old statistic IF they get $4bn and need an $800m equity injection from current lenders, then at 4p current share price or $60m market cap, we are currently diluted by 60/4800 = 1.25% or by 98.75%, anything more than that is arguably upside

How does that work then Wolff on the dilution question, bids don’t cover the debt, row is technically outside c11 … whatever they sell and whatever proceeds they generate, why does that leave the dilution question in your view …

Well no that there has been some arguably good news Wolff, does that change your sentiment or is it all still doom and gloom with you, we will all be diluted to oblivion and all that.

Tegop, that’s good news is it not, multiple buyers interested potentially going to auction? I somehow struggle why or how this would end up with Mooky agreeing to everything being sold off and shareholders getting no more than 4p current, in other words that Cine were in such dire straits that any sale proceeds don’t cover the debt.

No doubt Wolffie will try claim to the opposite…

Hello Wolffie, interesting question I have just read an article about mentoring on LinkedIn, saying how valuable and enjoyable it is to mentor and mentee … every thought about offering your services as a mentor in an arena such as this or to novice investors … serious question, your the kind of chap who would enjoy this as well as make money from it …

Oh dear Wolffie… your peer group are questioning what you say, just like me …!