Member Info for Hexam

HNS - I presume HBOS and AJ Bell actually represents PI money in the shares services of those companies. Not sure about the rest but can't imagine any ii risking client money on CINE though conceivably they might be taking a punt themselves.

"Argobull earnings delayed from Mara, deadline is tomorrow. Short could be good work if you got it and a good shout x could head to 650 if they don’t release on the am which I doubt."

They've already said (and filed) that they won't meet the deadline due to discovery of accounting errors - so that's where Alex went to?

Doesn't seem to have affected sp too much though, if at all.

*sorry - 10% increase in average difficulty

They did suggest the handover might have some impact on mining so that may of hit the numbers in January. If not, and there's been no improvement, then with three fewer days and a 9% increase in average difficulty it is likely that the February figure will be well under 150. Grim.

“i thought final bid offers were in april”

They are. The cleansing date refers to the D4E option not the bid process.

Cheers AB

*sort of haircut

AB - Probably the most genuine poster on this board in my view.

Tegop - I agree the company will be valued on future cash flows but $6bn even on this basis was always optimistic and with cinema not recovering as quickly as they expected it has made it even less likely.

Clearly from the bids so far this looks to be very much the case (at least at the moment).

As soon as you talk about lenders taking any short of haircut though that makes things very bleak for existing shareholders.

“now that Cinema is back or close to 2019 revenue performance”

Except it’s not. That’s the problem.

Tegop - the ancillary proceedings are not after the Chapter 11 proceedings and are not dependent on the result - but instead may run alongside them as necessary (e.g. to ensure adherence to UK law).

I very much hope that Wolf is wrong but I strongly suspect that he is not. If nothing else if RoW was really quite likely to be left relatively unscathed after all this then the sp is a fraction of what it should be. That just sounds too good to be true.

As it is, it makes sense to me that everything is in play as far as D4E etc. is concerned, just that not everything is covered specifically by Chapter 11.

Fingers crossed that you’re right though!

AB - Spike or no spike, what I do know is if I’d switched all my ARB into CLSK in September I’d be much better off now. As you say, all have fallen since then but ARB much more so.

Utter nonsense Ian. As usual.

“Have CW beaten their revenue forecasts since going into C11. “

No - I’m afraid they haven’t. They are a long way short - this was highlighted in the Jan 4th presentation. It looks like they have reduced the deficit a bit in January though given the most recent admission figures which they released in the last hearing.

“17 month / 5 years WOW''

plenty of time for the SP to recover then LOL!! and at the same time pay off all our debt”

How on Earth do you work out that CINE can pay off all their debt within 5 years? Madness.

“Where can I find monthly P/L? “

Stanley - if you search for ‘Operating Report’ under the dockets they should all appear.

There is one each for US, Picturehouse and UK (excl Picturehouse). The last ones were for December and were dockets 1297, 1298 and 1299 (ignore 1296 as that was issued incorrectly). No ROW as that sits outside Ch 11 but is a relatively small part of the business.

“The truth is that's not going to happen and we know the reasons why.”

Agreed but so many on here still think CINE will be allowed to trade its way out of this but that ship has long since sailed.

Hi Roxy - my response was to the post bemoaning why CINE aren’t disclosing the profits they are making when in fact they are making losses and ARE disclosing them.

I agree that buyers (and lenders) should, and will, look beyond this to better times and this means it’s a great opportunity for them to buy the second largest cinema chain at a bargain price.

Unfortunately for us though a bargain price is not good as the lower the price the lower the chance of anything left for us once the debt is dealt with.

It would be much better for us if CINE was already making healthy profits as that would help drive the price above a threshold where we could get something or even for them to be allowed to trade their way out of it. Both look remote options at the moment though.

How many more times. There is NOT profit coming in at the moment. They HAVE been been providing P/L figures every month showing large losses.

It’s because the business is still losing money hand over fist that it is struggling to come out of Chapter 11 with anything positive for shareholders.

It’s not rocket science.

“Losing 100m a month means cine bled a lot in 2022”

The $100m+ loss per month is since they’ve been in C11. First half of year was ‘better’ and July was good so overall looking like $750m or so loss for 2022 as a whole from the figures they’ve released.