Member Info for laidback

Where is RNS ?

Cineworld have tweeted nothing decided yet. More to come. Keep up with latest developments you moron.

In my book, it seems sensible to make smaller losses on loss-making sites

Media wants to sell a story, which has turned out inaccurate. Shorters are looking for a quick buck and I hope they burn today.

Gl all. Dyor

Press have a lot to answer for with all the sensationalist and possibly false reporting.

I hope the market responds with an increase in sp to reflect these positive moves by Cine to reduce losses in poor performing venues

I'm with Mooky. If anyone can, Mooky can.

It's not about how many cinemas are open, it is about preserving cash.

Enough liquidity to Sept 21. Save more cash extends liquidity period out further !

Directors have more knowledge than any of us on here!

@RS2002
Further along on this thread

It's not £8bn loans.... It's a lot of long lease liabilities classified as debt per IFRS

Ian.. I agree. This is a stand-off. Truth is that studios lose much more money than cinemas if cinemas stay closed. Mooky knows this.

Let the games begin.

Gl all. DYOR

There's 2 months to go ...

We are then:
1. Closer to blockbuster packed 2021
2. Will have clarity on rollout of vaccine
3. Debt covenant waivers will have been obtained

We have enough liquidity to Sept 21. It's a rocky few weeks, and whether cinemas are closed or not, we will soon be entering the best season for cinema.

We have seen all the derampers out in force today. I will not be a panic selling tomorrow while Mooky is still sorting out the film studios.

Great post RS
Highly recommended!

The media had you believed it was already decided.

To me it says that Mooky is reminding people that studios need theatres, and theatres need studios.

Whatever happens in the last 3 months of 2020, I think 2021 will still be a fantastic year for cinema.

Gl all. Dyor

Yes calm down all. Let's see what is said tomorrow or Tuesday.

A well -presented strategy will be well received by the markets and may temper share price falls.

They said enough liquidity till Sept 21. Taking drastic action to reduce losses just extends that liquidity period. The blockbusters do need to be shown in movie theatres. So a period of hibernation until then is not a bad strategy. Like airlines grounding their planes to save costs.

We are in for a very turbulent period. Mooky is shrewd and has his family fortune invested in this. I'm sure there will be good reasons given for closing cinemas. Let's see how markets react Monday morning.

@bullsbear
Great post. The key is to minimise losses wherever possible. H1 results showed enough liquidity till Sept 21. What's the point unnecessarily running up losses if UK business is not profitable. US seems a different market.

This could be seen as a positive, decisive move by Mooky. Markets like that.

Recovery will happen in 2021 imo.. just have to sit out these few months until the films start showing again.

So Israel and UK are shut. 8 UK cinemas were already shut. So another 94 to shut. In USA 40 sites are open.

Net loss since year end results = 54

Other countries remain open

All of Cineworld wwas shut in March, so we have been here before....it's not looking good for Monday, but hey no, we're all still alive !

Mark great post. I think 2020 has pretty much been written off.... it's all about 2021, and that is looking fantastic just now !

Recommended!

Plenty films are comjng out .... it's just some blockbusters being pushed into 2021

I think cinemas will probably struggle till December ... so do you buy now or when recovery well under way ?