Member Info for latpulldown

No it wasn't us Crumpets. I can assure you of that. Hope it didn't spoil the film though.

Re Danster, if its not danster on here it's Tommy Cruise popping along to the 9.30a.m. showings or another. Wasn't there once one who went to a kiddie flix at 12p.m. on a weekday when all children were still at school. We get used to all sorts on here.

I think they sometimes forget that people and potential investors only need to pop along to a Cineworld cinema themselves at the popular weekend times and do their own research. The footfall numbers hit you square in the face now and everybody knows what films are coming between now and year end.

Bring on our next trading update.

Must have missed you on the revolving doors Crumpets. Glad you found the numbers as I did.

Been in Sheffield this weekend doubling a shopping trip with enjoyment and just got back in from doing a double header of Venom Let There Be Carnage and Halloween Kills at Cineworld. Both good films in their own right btw and worth seeing and what a cinema that is !!

The place was packed and both Venom and Halloween Kills have taken very good money this weekend. Bond also.

By all means focus on the US in looking at Box Office but do not lose sight of the UK as I personally feel that it is getting close to or exceeding 100% of pre-pandemic levels now.

I also had a good look at the big shopping centre in Sheffield today as well (Meadowhall I think) and it was similarly packed and I'd say about 90% probably 95% of those inside were not wearing masks. The conclusion I drew was that as far as the public are concerned the pandemics over.

Roll on our next trading update.

Blue Buxton you must have had an anomoly with your trailers yesterday. Venom's had many today including Morbius, Spiderman No Way Home, The 355 and Dune (All looked really good) Halloween Kill's trailers were Last Night in Soho, Resident Evil and several other horror type films.

If you were looking to take over a movie theatre chain then the last thing you are going to do is announce it, otherwise up goes the share price and you have to pay more. Strange goings on (and timing) by Netflix and it will only heighten suspicions.

Box Offices are recovering fast and our share price is probably only about half of where it should be for a business back making money.

https://www.thisismoney.co.uk/money/markets/article-8351307/Netflix-looked-bid-buy-2-4bn-Regal-Cinemas.html

Venom is on Channel 4 as a tv network premiere at 9p.m. for anyone indoors and wishing to see the first one to see if it might tempt you out for the newest one thats just been released. Good film.

Opening weekend for Halloween Kills outperforming and exceeding A Quiet Place 2's opening weekend, which in itself broke records. I did tip that it might surprise.

3rd Box Office Weekend in a row in the US over $100M.

Dune releasing next week as well and its a consistent stream of really good films all the way through to the New Year.

https://deadline.com/2021/10/halloween-kills-the-last-duel-weekend-box-office-1234856404/

Looks like its tracking about in line with A Quiet Place 2 on the North American Box Office which in itself surprised.

https://deadline.com/2021/10/halloween-kills-the-last-duel-weekend-box-office-1234856404/

They've just advertised it on television as well.

Last Duel just advertised on TV.

Afternoon small trader, yes a volume level under 4 Million by 4.30p.m. despite a 2.75% Drop and EMAN's share price stays static. Says it all really. People I think have switched off from the games being played and know the share price should be much higher off Bond and the improving Box Office and what is coming until year end. I also think, having been able to see the court case, people are not in the dark and can make their own informed decision, irrespective of the way people wish to play the share price.

Plus side is that it is now the weekend and time for family leisure and enjoyment for most.

3 new good films out there this weekend to supplement Bond.

The trailers might whet your appetite into attending and doing a bit of your own research independent of the share price.

Venom - Let there be Carnage. (Marvel) Theres a chance Tom Hardy might be the next Bond.
https://www.youtube.com/watch?v=-FmWuCgJmxo

Halloween Kills. Iconic first film sequel.
https://www.youtube.com/watch?v=hL6R3HmQfPc

The Last Duel
https://www.youtube.com/watch?v=mgygUwPJvYk

It's the first 2 for me.

Enjoy the movies and enjoy the popcorn and support your local cinemas.

Just returning to core business and actually selling movies, concession food and advertising.

Everyman Media has gone up from 118p to roughly 145p since the run up to the new James Bond movie. That's over 20%.

Cineworld has gone down (or been driven down) roughly 20% from its recent peak and with record Bond numbers in the UK and successive $100M plus weekends at the US Box Office.

Ultimately its the numbers that will win the day.

Happy to patiently wait for our outcome in Canada and to watch the Box Office keep on continually improving over Q4.

"Let’s not get too ahead of ourselves anyway, I do feel we have argued our case very well and we have ended with the perfect witness. Mr Carlucci effectively explained and confirmed everything that our case was based on. In the beginning days of this trial there were some of us who were contemplating whether Cineplex had a bombshell to drop on us at the end, turns out it is the complete opposite."

I've watched the full trial and that bombshell which you thought might materialise just never did. Instead insinuations about lack of notes and not calling witnesses. Ultimately our solicitors decide who to call and knowing that each has effectively been allocated a limited amount of time on a "a chest clock"

Imho we have put up a very strong case and shored up all our assertions in a logical way and without doubt we played our joker cards at the end in the form of our ICA process expert and Mr Curlucci both of whom I thought was excellent, not only in showing deviation from the ordinary course of $206Million but in negating the novelty value in some of the damage claims and steadfastly defending the contents of his reports.

Indeed the only one they agreed on was the transaction cost one which he calculated at $5.5M. Again our counterclaim is for $34M if we win. ?

As for Bad faith allegations. Come on !! Being made by a company that was happy to pass all its landlord, supplier and studio debts onto the balance sheet and for Cine to pay post closure. Moreso though with evasiveness in answering key questions on all of these when asked for information and who resort to a questionable friendly and at "arms length deal", on a key lease without consent on the Queensway property, when it appears they had run out of any other options. The $25M from that deal should also have ultimately gone to CINE after closure.

For me its hard to see anything other than a win or a draw with at worst a limited cost sum to pay. Ultimately you have to decide for yourself.

J

I know we focus mainly on here with discussion on our bigger films coming up, Bond, Venom2, Dune, The Eternals but looking at the film slate I think the 3 kid films that are being referred to are

*Disney's "Ron Gone Wrong" 15/10.
*Boss Baby 2: Family Business (Uk release 22/10)
*Denis and Gnasher Unleashed: Operation Noise (22/10)

All conveniently released just prior to half term in a week or so's time.

Family tickets normally sell in 2's, 3's and 4's with parents and siblings also going along.

Nail this month it will be our best by far. So many other good supporting films also.

Night.

This comment seems to coincide with what you are saying KTP. The UK numbers speak volumes for themselves. $70M in 10 days in the UK.

Serena Gill, Head of Film at Everyman Cinemas.

"The Importance of Building on Bond’s Momentum for UK Cinemas

I am glad this question came now and not a few weeks ago, because it’s really looking great. What’s great with Bond is that we’re doing amazingly well, it’s already become our top selling film of all time in just 10 days, which is just remarkable. The amazing thing is that everybody is doing well on this title. This is what we want to see: every cinema chain doing their best with new films coming and following up on this momentum now that Bond is out so we can enjoy a thriving marketplace. Thankfully, for the rest of Q4, we’ve got so many different titles to look forward to. We have blockbusters and we’ve got the London Film Festival happening right now, so there are a lot of really good independent titles that are getting a lot of traction. We’ve got three new kids films coming up, which is amazing, we haven’t had those in a while."

Must be about our turn to speak up.

I might just have been looking at it differently for them each putting their pieces of the jigsaw into the bigger puzzle.

Not sure small trader that I agree on NC and IG. All 3 of our BoD were consistent and in particular that the cash for the deal was there and they were always striving to complete the deal. Mooky as CEO wanted it. IG was also good on justifying why integration planning kind of stalled at 90%. Each I thought gave good evidence on their own remits.

Both advertising on television tonight and yesterday evening and Dune is coming up on Youtube adverts also.

Unless I am mistaken a bit of a break now where we can get back to letting the business count the pounds shillings and pence (and dollars and cents) coming our way in Q4.

Plenty new films out there this weekend to whet the appetite and I'm still persuading a good few friends and neighbours to go see Bond.

Venom 2 and Halloween Kills for me this weekend with a bit of dyor on how busy things are.

The lasting picture today I think was at the end with one side looking upbeat and happy (CINE) and one in particular on the other side sat pensively staring in front and imo looking contemplative and bothered. My interpretation.

Overall, give or take a few points, I think that throughout we have had a well crafted defence case and have been assidious in cross examination, and give or take the odd point have been highly consistent throughout. The last two days we finished extremely strongly with our Expert Testimony.

Most of those damage claim options come across as simply pie in the sky. The synergy one for instance makes no logical sense.

Over to the written submissions and arguments and then to the Judge.

Counsel will not gain any ground with this witness, other than minor concessions.

He is absolutely precise on the contents of his report, superb memory, honest and running circles around counsel.

Afternoon rm722, if as you say

" I think damages can surely not be more than break fee + transaction costs + lawyer fee. All in all, no more than $150m to be paid in absolute worst case."

If you are right in the compnents of the equation I think you are far too high.

Using your equation maths I have it as this:
Reverse break fee (where the purchaser terminates) - £28,275,895

“Reverse Termination Amount” means (a) $41,520,000 in the event the Reverse
Termination Amount Event occurs prior to 11:59:59 p.m. (Toronto time) on February 2,
2020, and (b) £28,275,895 (payable in Canadian dollars based on the spot foreign
exchange rate published by Bloomberg at 11:30:00 p.m. (Toronto Time) on the date of
this Agreement) in the event the Reverse Termination Amount Event occurs after 11:59:59
p.m. (Toronto time) on February 2, 2020."

Transactions costs should come in at somewhere like $5.5M (Clarity today hopefully)

Solicitors Fees I gleaned mentioned in earlier passing to be somewhere in the region of $4M.

I tally that at roughly $38M.

Our counterclaim incidentally is for in the region of $32M dollars US

Not small change but a drop in the ocean compared to the over $200M deviation from the ordinary course they were going to saddle us with on closing.

Hopefully we get the link for there is some real good stuff in todays evidence.

smalltrader a couple of things,

The AB Stable court ruling was the first to rule on a purchaser withdrawing from an acquisition during the pandemic. They found in favour of the purchaser and adjudicated that they were correct to terminate and the reasoning mainly all centred around breaches of the "ordinary course" hence the 3 key principles from that judgement referenced earlier. I've posted the full 243 page ruling on here. It sets a precedent and appreciate also that as per what RM22 says Delaware court rulings are regularly referenced in Canadian courts due to lack of applicable comparable Canadian rulings.

My second point is that having followed the allegations of Bad faith being levelled by Cineplex at Cineworld I think that as of last night we dispensed with these. This is my own view having reflected on all the evidence. The allegation centred around tardiness in the ICA process and also re the stalling of Integration planning and I think there is an abundance of evidence to the contrary. Sandy Walkers evidence last night clinched the ICA one for me.

Listen carefully further today to the KPMG witness and you will probably hear that some of the claims for damage figures Cineplex have put forward will be substantially reduced downwards to very small numbers.

These are just my own views. Ultimately the judge decides. No jury in this case btw.

Which leads me on to my last point. Will we see +40% on a successful or limited expense outcome? This share did circa 40% in the days following the Paramount decrees ruling which freed studios from a prohibition allowing them to bid for cinema chains.

Your guess is a good as mines.