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Blimey is all I will say,

Our guy is extremely articulate at presenting. Even before hearing things I had thought we had a strong case.

The two things you need on your side in a courtroom are facts and law. Listen in and formulate your own judgement.

Good afternoon Pretty Wild. Nobody has thrown in the towel yet so we wait for the first bid to materialise. The £12 level makes it interesting.

The interesting bit will be how the BoD play it. If a first offer comes forward do they decline it and say it significantly undervalues the company prompting possibly a higher offer from party 2. Or do they wait for any 2nd offer and then say both undervalue the company.

We patiently sit and wait for the first move.

I'd love to be a fly on the wall in the boardrooms of our main competitors in the US.

Thanks for the link FTB. If those are the anticipated dates then I'll pass on watching for 7 or 8 hours each day.

Been saying this for a while but several films will have graced the silver screen in the intervening time between now and 22nd October. 3 of those should be VERY good earners.

30th September 2021 – No Time To Die. (8th Oct USA).
1st October 21: The Many Saints of Newark
1st October 2021 – Venom, Carnage (Marvel)
15th October 21 – Halloween Kills (Halloween sequel)
21 October 21: Dune

and then these other 2 should just be debuting on the silver screens.
22nd October 21: The French Despatch
22nd October 2021 – Last Night In Soho

If we can just keep it at 62p with the benefit of all the above then their might be some good money to be made between now and 22nd October if it holds the timetable.

Successful court outcome or a technical draw and both sides absolved of their contractual obligations then there should be some good compounding returns. Adverse result then you would expect nothing more than an appeal to be promptly lodged and then having to find a further block of dates in the future. It's only taken them a year and a quarter to get this far.

Hopefully signifying the start of a change in direction

scrodinger given the strength in the oil price over the last quarter and particularly with it sat over $70 for a good while there should have been some very good free cash flow generated. Can anyone comment on what baseline we set for our assumptions going forward. I seem to recall $45 per barrel but might be confusing it with one of my other oilers.

Just a heads up that it looks like CINE have subtly squeezed through a ticket price increase on some of the premium tickets (Imax, Screen X and 4DX) for Bond.

2D though looks still to be the same prices so very competitive on that front.

Should help with the revenues it brings in (and Bond's Box Office) and only playing a part catch up on AMC who had already increased prices. Vue also look as if they have adopted incremental pricing for their showings.

It's the right time to be doing it imho what with the films that are coming between now and year end.

You would expect a good next trading update with the Oil price having been consistently high.

Just checked the Cineworld website and you are right mountainous you can book your tickets now. Imax for me on this one and for a larger extended family group this time around.

https://www.cineworld.co.uk/cinemas/london-the-o2-greenwich/077#/buy-tickets-by-cinema?in-cinema=077&at=2021-09-13&view-mode=list

Disney's decision Plumber95 will do just fine for us.

Incidentally the last time courts adjudicated in favour, of not just CINE but the industry in general the share price rose roughly 40%. The Paramount Decrees ruling.

JAMESY1980, good find. You have had a few of late.

Trendz, I’m really not sure if you are aware but if this court case gets started Cineworld are actually countersuing Cineplex for what could amount to a sizeable sum of money in terms of full costs and damages and our Board of Directors are confident of their case.

Here was the last comments made by them on the 12th August, so just one month ago.

“The Group terminated the Arrangement Agreement because Cineplex breached a number of its covenants under the Arrangement Agreement and could not meet certain conditions necessary for closing. Cineplex did not remedy its breaches when given the opportunity to do so. As of the date of these financial statements, the Directors are of the view that no material liability will arise in respect of this claim.”

So rather than having a predisposition to pessimism let turn things your post around the other way. What do you think Cineworld will do with any damages money should they win?

I’d also be interested to know in detail why you think Cineplex have a better case than Cineworld and am happy to debate it with you and that’s probably with a lot more in depth knowledge than yourself of the lengthy Arrangement Agreement and Termination Notices and most statements that have been made since.

My own opinion fwiw is that Cineworld I think have a very strong case and I also think that based on the Doctrine of Frustration both parties will probably be set free of their contractual obligation. A court case draw and this being reflective of the fact that 18 months and more of a Covid pandemic and closed movie theatres has completely “frustrated” what this contract was initially set up to do.

Any talk also of home country bias I think is misplaced.

Good Morning Plumber95,

Although focusing on getting back to 2019 Box office can be helpful imho it misses out several other key parts of the revenue mix, namely concession food and beverage sales and advertising revenues. At the H1 update don't forget concession F+B sales had increased significantly for both ourselves and AMC.

If you listened to the analysts presentation that accompanied the H1 update Mooky was asked a question by JPMorgan on the cash burn and he calmly pointed out that in June and July that this had reduced by almost half again and that he saw Q4 as the turning point and with CINE turning cash flow positive. (Strong film slate, cost saving measures etc). Far better imho to now start considering the potential for positive cash flow.

Why.

1. Bond and Marvels Venom Carnage are just over 2 weeks away to kick off Q4.
2. Shang Chi has delivered an unexpected boost at the Box office.

3. Allied to this has been Disneys decision, reported on Friday eveing, to move all its remaining 2021 film slate to theatrical window only release for 45 days. No streaming competition for 45 days. This should assist us greatly and particularly with the further Marvel output and strong film slate to year end. Who's next?

https://variety.com/2021/film/news/eternals-encanto-west-side-story-last-duel-theaters-disney-1235061504/

A line from the H1 results "The principal revenue stream for the Group is box office revenue, which made up 48.0% (June 2020: 54.9%) of total revenue".

Looks like Shang Chi is going to hit the top end of this weeks North American Box Office estimates and maybe even surpassing it. Comfortably above Black Widow and without half the publicity drive that Black Widow had. ($26.25M)

https://variety.com/2021/film/box-office/shang-chi-box-office-second-weekend-malignant-1235061821/

This is the bit in the article that captures why I was very happy with Disneys decision last night.

"Other major studios have been closely watching Disney to determine whether they should also resume in-theatre debuts."

They should all start to fall in line behind now.

Mrstu82. Most of these trades can be interpreted either way due to the spread, delayed reporting and after hours reporting. You will also find others get cancelled also at a later point. It's all part of art of market making. Smoke, mirrors and keeping us in the dark as to what is actually going on.

I's be more inclined to believe them if they filter through as a real time live trade and during market hours.

Was going to remain silent for the weekend but real chuffed that Disney have learn't their lesson and now gone theatrical only for 45 days. Key boost to takings and cash burn reductions moving forward. (It's just a shame they didn't do the same with Black Widow as it was a really good film). Back to enjoying all things weekend.

You beat me to it Tom.

This should give Bond a half decent chance of getting close to a $1Billion for a post pandemic best yet.

Success breeds success and hopefully not only does it encourage more and more attending cinemas but more and more films opting to observe the theatrical window.

https://variety.com/2021/film/news/no-time-to-die-james-bond-china-release-1235060990/

Great news that and it seems the House of Mouse was extremely happy with Shang Chi's blow away opening Box Office

It's not just the Eternals but several other semi-decent films as well.

Really good news for cinemas going forward.

https://variety.com/2021/film/news/eternals-encanto-west-side-story-last-duel-theaters-disney-1235061504/

I'd be more inclined to believe that it was a buy Plumber95 given the price it was executed at, the Uncrossing trade just prior, and the fact it was kept back till after market close. Also given where the share price was for most of the afternoon. Probably Whitebox buying back what they sold down the other day.

Didn't even dent the closing share price and compare that to just the other day when I commented that to buy or sell £10k shares it went to negotiated trade.

Weekend off.

Very appealing again at 392p