Member Info for Hexam

As many of us tried to point out, the chapter 11 filing is just one possible route for CINE to achieve what they are trying to do so effectively we are back to where we were when they issued the RNS on Wednesday.

Still not great for shareholders but all Friday’s article did was explicitly mention part of one of the possible paths.

Not in a Chapter 11.

"Plus vehicle hire is a sustainable business."

So is cinema (companies are now moving back into profit now or close to them). Marvel apparently another example oddly enough (before it got into movies).

"My last post to you."

Phew - Thank you!

Good article but nothing about impact on shareholders which as I understand it can vary enormously.

Poor - nice to see you backing down (going from no chance to slim or very slim). I explained last night why the position now is very different to that two years ago so I'm not just going to repeat the same thing. If you disagree then fine.

As to what is going to happen next, I simply don't know. I just don't like people who pretend they do. My best guess, FWIW, is that it will enter Chapter 11 bankruptcy proceedings (IF that is possible given it is a UK company) and the fate for shareholders if this happens is unclear (seems there are many possibilities). However, there is a still a chance it can avoid this (but still with pain to current shareholders though with some possible long-term hope also) - just as there is still a chance the rug will be pulled completely by lenders and it's goodnight. There MAY be good short term opportunities to trade this in the meantime but in my view it is very high risk and so should be done with eyes fully wide open rather than simply to chase losses - but it's other people's money not mine so their choice.

There have been some good posts over the last few days from people genuinely trying to be helpful but there have been many more that have been completely one-sided, ill-informed, mischievous and in some cases plain nasty. And that's from both those trying to pump the stock and those trying to knock it.

I replied with the reasoning to your daft statement last night. No need to do it again.

That was one of your ridiculous posts. Your irresponsible posts include those encouraging people to trade this and saying statements as fact like "this won't get suspended" which you can't possibly know to be the case.

You are frequently bragging about how much you made in this or that trade but even if you are as successful as you make out it seems to be more by luck than by any deep understanding of what is actually going on. But hey, just my view.

If you mean balancing the argument with posts that are equally irresponsible and ridiculous but on the other side then I suppose in a sense you are correct.

So the company is filing for Chapter 11 bankruptcy AND is insolvent? One of these may be true. Both can't be true. If it was already insolvent then it couldn't file for Chapter 11.

Agree that a share buyback is non-sensical (does nothing to help the liquidity position) and the family buying now would be illegal.

@bullsbears - He's usually to be found non-stop de-ramping on the Capita board so at least they've been given a bit of respite whilst he's busy peddling his one-sided, repetitive nonsense here. There are people like him on most boards - they tend to be the easier ones to ignore as it is clear they have an agenda and not much else to offer. Just gets boring.

Same is true for the obvious rampy types (that unfortunately can be found both here and on CPI).

"If the board had any dignity and there’s any truth to things published in the media regarding liquidation"

What has been published regarding liquidation? All I saw mentioned was Chapter 11 bankruptcy which is still very concerning as although the business keeps going it is unclear what exactly it will mean will shareholders (but probably not good). It's not liquidation though (Chapter 7).

I thought you meant failure as in go out of business.

It depends then on where you draw the line. Is having to do a rights issue failure? Is not meeting revenue or profit targets failure? Is withdrawing dividends failure? Plenty of businesses have failed if you widen the definition.

If you are saying it has failed by your definition of failure then obviously I agree. It's not necessarily mine (or others) though.

They are not lies. It's just different prices in different locations. As I said earlier it could depend on whether the venue has been refurbished with all recliner seats. Some have. Some haven't.

Not yet it hasn't - that is equally as misleading as the stuff Poor is posting - just the other way. In my view anyway.

Well I don't think you have explained it - at least not very well. If it goes 'properly' bankrupt then they just close the doors, that's it. Nothing to stop it. That's business.

Businesses like CINE can trade on $5bn debt if they stick to their obligations (pay interest and meet covenants) but CINE stopped meeting covenants. There were then given waivers by lenders in the hope/belief that volumes post Covid would pick up quickly and sufficiently to put CINE back into profit and therefore able to start to meet those covenants again and for the lenders to be confident of getting their money back. That hasn't happened and so the latest waiver clearly hasn't been given with the lenders running out of patience. That's why it's happening now and not two years ago.

I don't think it will go into proper (chapter 7 in US language) bankruptcy and personally think it is around 50/50 that it goes Chapter 11. But I don't rule out either possibility simply on the grounds that it is in the 'too important to fail' category.

"Super saver seats??"

Generally the front few rows. Then go tp £5.99 and £6.99 with VIP £7.99.

@Danosaur - Is your local Vue one of those that has been upgraded with recliner seats etc.? My local one hasn't and the prices still start at £4.99 whilst the two that are the next nearest have and the cheapest seats in both of them has changed to £7.99. That might explain the riddle.

...and all times.

That may be so in your location Dan by my local Vue is also £4.99 for the cheapest seats for all films.

Yes - it probably is true! But you know what I'm tired of this particular brick wall so I'll give up trying to explain why that's not the point.