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Up to 1.94 basically if they don’t need to, the. They will only borrow what they need to get them through. They have to get court approval. But Chapter 11 is American and not UK thing. They will need to go to courts in U.K. for CVA. Will wait to see what HSBC does to protect its debt. IMO
Chapter 11 is an American thing. Not legal in the U.K.. so they will need to do a CVA. As You have to be insolvent to go bankrupt.
Mentions ancillary action. Chapter 11 is only valid in America. Will need share holder approval at some point. Lots of hurdles to overcome for Mooky yet. IMO
22nd will be interesting. Share holders might not be to pleasant to the board. IMO
Yet Mooky will keep his 21% shares in the company. IMO
Lenders can only take the ability to take shares at a later date. No way would anyone lend a billion for a company worth under 50 million. This story has a long way to go. I expect a knee jerk reaction tomorrow followed by months of court actions. Studios will want Cineworld fully operating. Can see a lot of movies pushed to 2023. IMO
Doubt the price will recover. Debt holders will be left with worthless shares. Can also see some debt holders fight this, such as Hsbc. As well as shareholders and Cineplex. Also landlords. Going to be busy work for lawyers for a good few years.
Also expect studios to be concerned with possibility of Cineworld potentially closing there theatres till this is sorted. Will soon hear that Avatar is being pushed till 2023. IMO
Going by article. Chapter 11 in only Texas theatres. Not California, Florida or New York. I think there is a lot of complications to any deal. If they have to close their American theatres till they come out of chapter 11, you can see Avatar and Black panther 2 pushed until 2023. This has a lot of things still needing to happen. If share holders get wiped out. I can expect the company to get lambasted anytime it tries to launch a fresh onto the stock market. IMO
Need to issue around 30 billion new shares to get 1.24 billion. Cannot see any debt holders or bond holders go for that. Never going to get any of their money back. IMO
There will be no RNS till after the 22nd September. iMO
Complications in that chapter 11 is only for America. Also not full bankruptcy. That is chapter 7. Even then. Will effect shares on American stock exchange, but not UK. Company looking at CVA over here not bankruptcy.
These measures have been cited, to bring lease agreements down while numbers are down. Must be the landlords are also struggling, hence the kickback. Cinemas are the no. 1 paying tenants in shopping malls and out of town leisure parks. Landlords cannot afford to lose their rent completely. Not too mention the loss in footfall. So a deal will be done. IMO
Aimmaster, you have been filtered. Need to use one of your other accounts. Hope you were not paid for whatever post you put up. Your paymasters will want a refund.
Drop probably because Jangho have sold their last shares. Expect it to rise up again tomorrow.
Bond holders are subservient to HSBC. They will have to tow the lie. HSBC has the whip hand. IMO
This will jump back to 6p. People will sell again like Friday and expect a drop. This will rise this time to 8p. The. The remaining shorts will then look to close. Especially the new ones. Who shorted at 2p. This could end up at 10p.
If it is confirmed that Jangho has sold out completely, this will also have a positive effect on the share price.
Also if this gets more coverage of being a meme stock and rises, while other shares are falling. This could attract a lot more buyers, looking to cash in. Particularly those people nurses losses with the falling crypto currencies. IMO
As soon as the deal is done. Cineplex cease to exist in their original form. Cineworld take ownership of it all and the Cineplex share holders get paid out. What exists of cineplex , is in name only.
Cinema day will bring in returning cinema goers.
Also a new prime minister. Will need to put in place business stimulus. I am sure new government backed loans for those businesses still suffering the effects of Covid. Will be announced. Banks will hold off till next week. If Cineworld can get £200 million fresh loans. This will see it through to November and the promised land of big movie releases. IMO
Bounce around these levels and eventually finish at about 5p to 5.5p a share. IMO
Feel Jangho and Polaris selling out has helped the share price. Now question of who bought all there shares.
Be interesting to see how far this rise goes and whether Mooky will try and do something to screw it up. This company needs new owners. IMO
Why did Polaris and Jangho not dump all their shares in one go and weeks ago. They have lost between £250-400 million pounds. Jangho this is his own money and not his firms.
I believe they sold off to a single company a few percent a day. At higher than market value. If not there actions make no sense. When down over 96%. Losing a little more will not matter compared to a bounce back when the smoke clears and clarity prevails.
Will see over the next few weeks whether both of these has bought back in. IMO