Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
@MarkyMark "I don't believe that Cineworld would be that stupid to risk having to be sued by pulling out".
We all hope so, but with Cineworld's position & reasoning unclear we can't see the other side of the argument just yet, I do hope it's strong.
Unfortunately, Cineplex's entire lawsuit comes down to the significant 'carve-out' included to define the MAE's, that essentially even if there is a materially adverse effect before close of the deal, Covid-19 cannot be used as a reason for termination of acquisition.
Hence Cineworld say the reason isn't Covid, it's "something else".
Either way, getting out of a deal through exercising a MAE are unfavourably looked upon by Court. Generally they rarely win for the buyer I understand.
What could the 'something else' be for Cineworld?
MAE's also often have a 'disproportionate clause' in which the MAE and its carve-outs can be overridden if the target business is disproportionately impacted compared to others in the same sector. I don't think Cine could win on this basis.
There is also a 'Drop Dead Date' whereby for whatever reason an acquisition doesn't complete by a certain date after the close date, then both parties have the right to terminate without any further consequence. Usually weeks or months after the close date,. WHY DID CINE NOT DELAY AND WAIT FOR THIS DATE INSTEAD OF PULLING! Perhaps they strongly believe they have a non-MAE argument?
Perhaps Cineplex is unable to comply with it's pre-closing covenants, workforce, capital requirements etc. This would be better then targeting a MAE fault, as mentioned I understand they are very rarely agreed with in court. Particularly one which specifically carves out Covid from the equation.
This is going to get VERY messy.
So let's look at the basics. Cineplex, want to sell to Cineworld. Cineworld, want to buy Cineplex just at a knockdown price. If push comes to shove and Cine's position doesn't look as strong as anticipated they would settle out of court and purchase Cineplex for a lesser valuation (I hope)
If this goes to court, it could be a long drawn out battle, so many angles, ultimately I feel if Cineworld claim MAE, it won't be favourable, they need to focus on broken covenants as Cineplex have them bent over with that 1 sentence carved out.
More reading to do, we need a lawyer. And we need Cineworld's response asap else short term, with the US and now this, it could turn into a bloodbath until it's received.
Just to be clear the NED's and upper management haven't 'waived' their remuneration, poor reporting from BBC. They have deferred their payments and expenses until stability returns.
A good message to send nonetheless and a company that seems to value it's stakeholders, retail shareholder included.
On 'average', a dividend of ~1.15% of the share price in GBP has been paid each quarter. So for example a £2.20 share price would be around 2.53p per share > 200k shares deposits a welcome £5,000 four times in 12 months. £20k a year in dividends.
Not bad. If you decide to build your holding and hold longer term.
Even better, Cine seem to pay a final dividend at year-end which is an additional top-up based on financial performance! Almost twice as much as the quarterly dividends. Another £10k for 200k shares. Furthermore, through sale of assets, the remuneration committee in the past voted to pass on 50% of proceeds to shareholders - receiving a huge ~18p per share if I remember correctly, a nice lump sum of ~£40k with 200k shares.
I wasn't invested over the last few years but both an interesting and reassuring delve into the past. Shareholders are valued.
With 100%+ growth YoY and this kind of treatment towards shareholders Cineworld is one to think about holding for longer than the Covid play.
If only they would throw in an unlimited card too :)
AMC Theatres
@AMCTheatres
Taking into account the newly scheduled release dates of
@DisneysMulan and @TENETFilm, AMC will pushback two weeks and resume theatre operations beginning Thursday, July 30, in time for a theatrical slate commencing in August.
California & Arizona follow Texas in further reopening delays. Sorry to see also Cinemas will not be reopening 4th July.
To think less than a week ago this was at 75p+, an unbelievable buying opportunity presented itself, all Cineworld's ducks aligned, UK distancing reduced, Europe & US reopening.
Then the Yanks go and F it all for everyone! (& now Leicester).
The horse was about to bolt, you blink, and July turns into an avalanche. Goes to show it's near impossible to call the bottom in such a fast changing worldwide environment.
Not the V shaped recovery we all hoped for here, cest la vie.
70p+? Your buy was still top notch! Hold. Ignore daily fluctuations unless you're looking for entry to average down. Don't panic & for Lord's sake do not sell. All will come good (Filter the yappy gloating posters also)
I see July as a bit of a write-off now personally. Sure, there will be some green shoots but really can't see any sustainable rise until August when the situation hopefully calms, the US major states reopen and blockbusters return. I still believe 4th July will have very little positive impact, more interested to see where we are a week after.
For now, I see 40's possible but I could be wrong as 53's looks like support. IMHO but WTFDIK.
https://www.theadvocate.com/baton_rouge/news/business/article_af2ba1a0-ba50-11ea-94fa-070630b505c0.html
PPs. Celebrating others downfalls & relatively high breakeven positions is truly classless. I hope the gloaters get stung. They know who they are.
...message board before. A mixture of new investors making their first foray into the markets, but mostly day traders blowing hot steam to benefit their long or short position. Very little actual worthwhile content for sharing of knowledge and risk assessment. Shameful.
Let me just debunk a few myths whilst I'm here:
1. THE SP WILL NOT RISE SIGNIFICANTLY WHEN UK CINEWORLD OPENS! FACT! Just take a look at all other retailers & hospitality, Greggs, Flights etc....they ended up further down than before they opened!
2. Until the US has the pandemic under control, there will not be sustained double-digit rise. Particularly in the 3 largest states Florida, Texas and Cali.
3. 53-56p could well be the bottom. But by know means is this certain. With Texas reapplying restrictions to the hospitality sector, should other major states follow suit, a further downgrade can be expected. Not to mention the death toll rising Mid-July, UK regional lockdowns and no blockbusters until August-end.
I wish everyone the very best in making wonga, but day-traders are unleashed at present and they won't keep a cap on it.
Mid-Long term Investors, don't be duped. It's simple, buy in a price you are sound with, no-one catches the bottom, average down if possible, hold and wait with patience. Don't keep jumping ship - it will catch you out. In 2022 all will be well.
Signing-off (again) never to return as I promised myself. GLA.
Ps. Why not exit on a prediction :) Could be a Mic-Drop moment who knows. The crystal-ball 'estimates' 47p bottom. £1 in Nov'20. £2 Summer'21.
From Hollywood Reporter if the link below does not work
https://apple.news/An3X8paI7QNm4DJDUiT52vw
Davy, so out of curiosity..what criteria do WH use to decide/flag which accounts to limit online? Is it as simple as 'win too much and you're out'? Always wondered if you can help enlighten me at all.
Can you imagine if the London Stock Exchange did similar!
This website IS up to date, only last week a large short position closed on one of my other holdings reflecting on this website almost immediately. Hence confirmation of reliability for me. As you can see, aggregate short positions on CINE are negligible!
To hold a material short on this stock so close to July would be financial kamikaze! Or insanity. Pick one.
https://shorttracker.co.uk/company/GB00B15FWH70/
Whoooops! Ignore thread. No idea how to delete.
This website IS up to date, only last week a large short position closed on one of my other holdings reflecting on this website almost immediately. Hence confirmation of reliability for me. As you can see, aggregate short positions on CINE are negligible!
To hold a material short on this stock so close to July would be financial kamikaze! Or insanity. Pick one.
https://shorttracker.co.uk/company/GB00B15FWH70/
25 days of trading remaining....where do we all see the Share Price for July 17th!?
The anticipated release date of Nolan's Tenet & reopening of Cineworld UK...the USA perhaps sooner!
https://www.screendaily.com/news/cinema-reopening-dates-around-the-world-latest-updates/5149917.article
The reason oil is rising is because traders don't see beyond a week. Evidently we saw this with how May futures was traded and the next front-month contract is even worse, landlocked storage & global storage both on and offshore will be worse than April! 100% guaranteed. Yet WTI is on the up? Traders choosing to ignore foresight for now to make the £.
IMO this is too risky to touch at present for LTH's. Although forced shut-ins and some demand returning in May, planes won't be flying, trucks won't be delivering cross-country and producers will not shut-in the majority of wells (waxy crude for example can't be shut in without irreparable damage) = capacity full.
This is the basis on which I will be trading. All this "journalists sensationalism" is utter nonsense unless they are colluding on an epic scale and IEA EEA and co. are telling porkies to the Investment Bankers. The market however can be irrational with worrying subterfuge.
Thoughts of a non-intraday trader.
Anyway, sincerely very best of luck all. I hope we all make money.
No more posts from me ever.
Big money on standby to invest at some point, selling in 1-3 years as long as PMO doesn't go BUST!
Cest la vie.
What happened when OPEC agreed the cut? Stock down. ~9.7mbo/d minimal impact on ~30mbo/d glut - especially as storage capacity keeps reducing.
So India at 95% storage capacity. Storage of Brent on & offshore expected to be full mid-may. Saudi have already cornered majority of offshore storage whilst simultaneously offloading 12m barrels of oil to the US ( is this war worthy sabotage, I think it's well played by SA). Brent could take a huge dive in May and follow WTI (which no doubt will drop negative back-end May again) OR...
...lockdown easements = demand picks up, supply reduced by OPEC deal + contango trades = everything is OK in May.
IMHO, will need another OPEC deal. Supply will reach full capacity (doesn't have to be 100% as per my recent post).
The markets will align with the lack of storage in the next 5 weeks and shut-in's won't be voluntary but necessary.
Far from the bottom yet but WTFDIK!
"Traders seeking to store oil have put their plans on hold this week after prompt Brent crude futures surged against future months and made storage uneconomical, despite overwhelming supplies in the market, industry sources said on Tuesday.
Front-month Brent crude prices LCOc1 have jumped since Friday on expectations that Saudi Arabia and Russia may strike a deal to cut output and support prices. [O/R]
That has created a growing disconnect with physical markets where traders are struggling with unsold supplies from previous months after the coronavirus pandemic destroyed demand.
Demand has collapsed and supply is gushing,”said Ashok Sharma, managing director of shipbroker BRS Baxi in Singapore. The market is totally disconnected from supply and demand fundamentals.”
Circa 10-20m OPEC deal supply reduction, Shale producers reducing and shut-ins worldwide, general worldwide outputs reducing, cantango purchases will take around 200m supply off the table - supply will decrease.
Economies will open - demand will increase (2nd wave may close them again though)
2nd Half of year anticipated for demand to outstrip supply.
The issue is in the short-term, just how much storage capacity remains offshore/in tankers for Brent to be held until the demand uplift. From what I've read it's not very clear, particularly due to the Saudi's and co. storing cheap stock. Capacity issues are key if Brent is to follow WTI near negative territory. I paid for and found some reports last night from reliable analytical firms, storage capacity is determined by guesstimates essentially, through viewing satellite imagery of tank farms and monitoring vessel availability, the top and bottom of it was the world will test storage limits in the next few weeks. Interesting reads but no-one making a definitive call because not all types of oil can be stored in all available space so non-US capacity remaining is less than what can be seen. This is on a knife edge.
Will demand increase before non-US storage is overflowing?
What would happen to the PMO share price if Brent was negative (worst case) yet hedged at $60+?
Must be a combination of what I mentioned earlier and the expiry of crude futures tomorrow with no-one wanting to take delivery. But doesn't Brent futures expire for the month also? $18 gap now and WTI dive having absolutely no impact on the DOW or S&P!!
WTF is going on.
Just bounced off $10.04 twice! It's coming...
"Understated" not exaggerated I think you must mean.
With WTI losing almost 1/3rd of it's value today, what are your thoughts on why Brent is not following suit? I imagine the OPEC deal, Europe slowly reopening and storage not being as much of an issue in other parts of the world than in the US to be the market reasoning. Can't find any info on Brent storage capacities however?