Member Info for HNS_77

Yes approved - it was always in the docket - I read it this morning

this Court having determined that the legal and factual bases set forth in support of the Motion establish just cause
for the relief granted herein; and upon all of the proceedings had before this Court; and after due
deliberation and sufficient cause appearing therefor, it is HEREBY ORDERED THAT:
1. The Filing Exclusivity Period is extended through and including June 5, 2023.
2. The Solicitation Exclusivity Period is extended through and including
August 4, 2023.
3. Entry of this Order is without prejudice to the Debtors’ right to seek from this Court
such additional and further extensions of the Exclusivity Periods within which to file and solicit
acceptance of a plan of reorganization as may be necessary or appropriate

If you scroll a few pages the court response to the motion to extend has already been granted page 12 onwards

I’m all for sharing speculation but this theory would also have to assume that Mooky knew

- they would not only loose the CP case is spectacular style with damages awarded at a scale and for a reason unheard of in history
- that after getting through the bulk of covid the world would again go into panic mode over omicron
- in response to the above studios again pulled releases which meant there were a drought of new releases and particularly painful in the 3rd quarter of 2022
- Cine’s court claim against its insurance companies unwillingness to payout at force cinema closure loss of earnings would be summarily denied

This has been a litany of terrible outcomes for Cine - the only shred of hope has been that customers have clearly voted with their feet and wallets when it comes to going back to cinema to watch movies

The bit that confuses me from a strategic point of view is why Cine/Creditors would want to paint a picture of Cine as a desperate seller with a CEO that stands to get wiped out of his huge family shareholding - surely if the creditors were smart they would want to pitch their deal as a good one to make other buyers to dig deeper into their pockets on the fear they could lose the deal of a lifetime

Obviously its more complicated then that just seems counter intuitive to put out RNS's that paint a bleak picture and expect companys to come racing to the rescue in a bid for them to overpay when the next best deal is so rubbish - not much of a stalking horse more like a dead donkey.

this was my fatal (i.e. dumb) mistake back when Bond came out - the share priced rallied to around 80p-90p if I recall correctly on the hopes that it was a clarion call for the rebirth of cinema and everything would go racing back to normal instead of actually looking at the forecasts and slate numbers to see it wasn't going to get their with those revenues - some of us including me got swept along with hubris and held instead of taking profits - kind of understandable in some ways but still a fatal error of judgement

@ tegop - should have been clearer - I mean a couple of hundred million for the whole domestic forecast not a share of CINEs revenues - so for example 2019 was 11.3bn domestic so 80% is 9.04bn of which Cine share is 16.5% - a hypothetical $200 m swing either way in revenue would translate to a $33m swing for Cine which off a total $1.5bn (assuming we hit 80% forecast)

My broader point is that I think any over under performance of films between now and May will be seen in the context of the annual forecasts that have been provided

Although it seems reasonable on the surface to assume that monthly increases in revenue might influence the sale price I personally don’t think it does in any material way - rather serious buyers looking to commit billions will have been engaging the industry professionals who have already provided forecasts on what they expect revenues to be for forthcoming years and broadly speaking we are on trajectory to get those forecasts - if we have dud releases or a sleeper hit they might be out a couple of hundred million either way but broadly speaking the projection is 80% of 2019 domestic moving to 100% possibly 2024 or 2025

Any short term upward trend over a few months would not move the price someone is willing to pay but perhaps contributes to the general feel good factor

Even if I gave you HBOS all the others are below 3% so wouldn’t have to issue TR-1s

Hexam - where have you seen shareholders named in the Company Annual Accounts?

In relation. To the TR-1 requirements found this statement via the FCA website “ Managed holdings without voting control: The investment manager is not required to aggregate or disclose interests managed by it as it does not have voting control. Any disclosure obligation rests with the person or entity that has discretionary voting control.”

Hexam the HBOS listing is named as HBOS Investment fund managers limited - this is how Bloomberg describes them - doesn’t this mean they have a fund manager rather then a broker where Pi’s buy through them?

HBOS Investment Fund Managers Limited operates as a privately owned investment manager. The Company manages mutual funds for its clients, as well as invests in the public equity and fixed income markets. HBOS Investment Fund Managers serves customers worldwide.

Interestingly one I didn’t mention called Etgar increased its holding by 50% to 5m shares - based on Israel of all places

Based on the most recent filings for holdings in Cine share as of Jan 3 - source is Simply Wall Street listed below

There were many more but I decided to stop at those owning 1% of the float. If this is truly at deaths door either they are all completely stupid or yolo’ing their/their clients money. Judging by the names here both these ideas seem unlikely

HBOS 91m shares 15% increase ( 6.6% share of float)
IGM Group Holdings 39m shares 5.7% increase (2.88% share of float)
AJ Bell 32m shares 6.5% increase (2.3% share of float)
HSBC global 29m shares 15.4% increase (2% share of float)
Inversis Valores Y Bolsa Sociedad de Valores, SA 15m shares 90% increase (1% share of float)
Edmond De Rothschild Asset Management 15m shares 30% increase (1% share of float)

Ideas/ thoughts welcome

Another one nursing a six figure loss here - it has been nothing short of brutal so feel you pain - that said we are still here, slightly less in my pocket but fortunately live to fight another day regardless of the outcome - was here for the £1.20 in 2021 crazy to think the domestic then was 4.45bn when this year looks odds on for 9bn looking at the difference in the sp

Seems silly to expect miracles but this situation is so unprecedented with everything that’s happened who knows maybe one last plot twist and if we get a reprieve and hang on as shareholders I will be holding until that 2019 11bn figure is finally reached

Tegop - saw that - it says the week of the 27th so could be any day this week

Why do people think there is a court meeting today? - they Normally provide dates on the kroll site and the next one is showing March 6th

This was the confusing word salad that was in the C11 statement relating to RoW back in September- by commitments I assume they mean debt portion of RoW was bought by this company ?

Would welcome thoughts on what this means but it seemed designed to not clearly explain to shareholders the implications of this.

My pessimistic side thinks it was written to somewhat gaslight shareholders into thinking that RoW was not what we were invested in when we held Cine shares

The lenders providing the DIP financing have also agreed to provide funding through the DIP financing for the purchase by a newly incorporated Group company of the outstanding commitments under the Rest of World facility (being the facility advanced to fund the Group’s operations in Poland, Romania, Hungary, the Czech Republic, Bulgaria, Slovakia and Israel). This debt transfer is expected to occur in the near term, following which the newly incorporated Group company will be the sole lender under the Rest of World facility. It is expected that the terms of the Rest of World facility will be further amended at such point. In order to facilitate implementation of this arrangement, the existing lenders under the Rest of World facility have agreed to forbear temporarily in exercising certain of their rights triggered by the Chapter 11 filings. As a result of these arrangements, the Rest of World group entities will not commence Chapter 11 cases or any equivalent local proceedings at this time. A further update will be provided in due course

Tegop, mountainous, patientce , RI etc good to hear your insights and views on this

If wipeout is the final outcome the most frustrating thing is that the reasons I backed Cine were general correct - ie that cinema would recover and that the threat from streaming/simultaneous releases was overblown- both those have been proven correct - if Cineplex hadn’t have happened then C11 wouldn’t either but that all water under the bridge now - perhaps it’s coming to late for us to share the success of that recovery time will tell

Whiles it was painful RNS to hear those “no recovery for share holders” repeated 4 times over in the statement what in reality changed from Friday announcement ?

No bids reached 6bn so wouldn’t leave anything for shareholders ? - we knew that already

Creditors will not consider equity holders in the plan of agreement ? - it’s never been put in those clear terms but again was anyone was under the illusion they would ?

That any d4e proposal was likely to lead to no recovery of equity interests in the C11 group - again this has been said many times before

As far was I was concerned this is the same sh111t storm that’s being going on since September

My 3 reasons for continuing to hold

1. it is still not clear what the creditors actually want - do they want to own Regal & U.K. Cine in its entirety ? or dilute and convert some of the debt to equity? Or is this a parlour game to play hard ball, terrify Cine and other creditors like Cineplex to fall in to line/capitulate ? If they don’t want it own Cine is there an appetite for Cine to trade its way out of this mess which is why lifelines have been thrown in terms of lending?
2. What is ROW for Cine shareholders? Do we keep a piece of that business and if so what is it worth?
3. What does it mean if the slate improves or sale offers increase and cine continues to overperform against forecast - is there any hope it changes the dynamics eg make the judge rethink or creditors ?

I don’t know if the answers to this will come too late or if they are even relevant anymore but I’m willing hang around a bit longer to see

On the surface this seems like sh11t news but why did the lawyer present the news in such a jubilant and damning way - language like “nowhere near” he didn’t have to convey it in that way could have easily said something more muted like “we did not receive offers to cover the $6bn” he is acting for Cine so why would he be hamming it up unless this is something his client wants…?

Then again perhaps low offers is a blessing in disguise - why would creditors push for equity in a company that is worth less then the debt they are owed - wouldn’t they rather allow Cine to pay down the debt as revenues increase in line with recovery to pre covid - they already showed they were beating their forecasts