Member Info for latpulldown

Then on covenants and liquidity

"Cineworld is pleased to announce that its lenders have agreed to waive the leverage covenant1 in respect of its credit facility for the June 2020 testing date and has increased its leverage covenant1 to 9.0x Net Debt to EBITDA for the December 2020 testing date.

The Group has also agreed the terms of $110m of additional liquidity through an increase in its revolving credit facility. In addition, the Company has secured credit committee approval to apply for an additional $45m through the CLBILS loan scheme in the UK and expects shortly to commence a process to access $25m through the US government CARES Act. Cineworld expects that this additional liquidity, to the extent required, will provide it with sufficient headroom to support the Group even in the unlikely event cinemas remain closed until the end of the year."

Cinemas now opened or opening and into Tenet revenues.

Cup of cocoa time. Night. Night.

Yawn zzzzzzzzzzzzzzz again. Same regurgitated mumbo.

Peel Hunt actually raised their target price from 140p to 180p and provided the justifications.

https://www.sharecast.com/news/broker-recommendations/cineworld-shares-set-for-hard-bounce-says-peel-hunt--7617294.html

Your post has just been reported for trying to incite others to report genuine posters.

I read it and actually thought it was quite good what with covenants renegotiated and also having picked up several new contracts and with a cargo element also. lt also seems they have tight fiscal management and healthy funding. Maybe I read it differently to others.

Debt will be reduced by $500M once the Ugandan asset sale completes. Check out Shell (RDSA)

TLW also have £500M of liquidity and headroom and the oil price makes them profitable on each barrel sold. That should strengthen further as we head into winter and as economies need to fuel their recovery.

I think if I was a client of Morgan Stanley and invested in Cineworld based on their holding and advice, I'd be right annoyed that MS themselves buy further stock in Cine at 63p to 68p and giving all the indication to buy again. Then about two weeks later you issue a broker note that after two days of falls slashes your target price to 45p.

Is it just me that is seeing a complete and utter conflict of interest.

Greed in the end may well turn out to be their undoing for if I was a client I would be walking out the door with them.

Morgan Stanley between the 26th Aug and the 28th august upped their holding in Cineworld from 5.39% to 6.59% and at prices paid between 63p and 68p as these were some of the Jangho shares.

Now why would they then issue a broker note with 45p ?? on it, and after 2 days of what has looked like engineered and manipulated falls.

There imho is your culprit for the present falls and it needs seriously looking into.

Considering it was 23p only a week agaio and the results were largely predictable it offers real value at today's price.

Sale of the Ugandan assets won't be that far away by the sounds of things so we patiently wait and accumulate.

Brents at nearly $41 dollars so we make money on every barrel.

Not a bad buy at these levels

investors@cineworld.co.uk

A simple email along the lines of wtf and why hasn't the company come out in support of the share price. The more the merrier.

investors@cineworld.co.uk

Rinse and repeat ahead of results.

Hard to find any real reasons with substance behind the falls as the Government is steering a path of keeping all businesses open and local as opposed to national lockdown.

Falls are overdone.

Published after close

18:56. 921,266 Buy* £492.84k and
17:04 943,621 Buy* £502.94k

That is not a reason either. They have been closed for 5 months with no revenue at all.

Some of the European cinemas have been open for a month or more and revenues are now coming in and with more cinemas opening by the day and week and all into Tenet and or Mulan as well.

Lets just add another one into the mix and that being the relative strength of the AMC share price to near pre-Covid19 levels. Is ther an argument for either a proper dual listing or list solely in the USA where it has to be said circa 73% of our total cinemas are.

Personally I think it will all become academic for the recent Paramount decrees ruling and the present share price means we will get a take over approach.

Forget the Dow as a reason their are plenty FTSE 100 companies and FTSE 250 companies that have not fallen anywhere near where we have.

You have airlines down 2%, retailers like Superdry and RDSB and BP going up today.

There is no link to US markets.

Under normal orderly market conditions what you should have is a reason and then a rise, fall or maintaining the same price. What you shouldn't have in an orderly market is an At generated fall followed by another and everyone scratching their heads as to what has happened and trying to come up with a reason to try and justify things.

What surprises me most is that the likes of Mooky and his brother and with their childs inheritance in mind also are not on the phone to the Regulatory authorities to get to the bottom of it all.

So as you see some of us are struggling to understand why the share price has fallen at all, let alone from 68p to 53p.

I am happy to take a more than eloquent stab that it is purely down to Automatic Trades from someone trying to derail what was previously very bullish sentiment.

Lets see what tomorrows excuse or lack of reason will be.

Or have they ran out of them for now and do they start to give some back.

Just a couple of other developments.

1. Orange County in California just authorised the reopening of cinemas in the last 24 hours so that should lead to more of our cinemas opening into Tenet.
2. Our Romania cinemas are just about to open on the 11th September. That is an additional 26 multiplexes opening into Tenet and a bonus ball is that Disneys Tenet is slated for those cinemas two weeks later. So another good film to follow up
3. Further research also shows that "Mulan" is either already showing or is slated for showing in all our Eastern European, CinemaCity Multiplexes in Romania, Poland, Bulgaria, Hungary, Czech Republic and Slovakia and also in our cinemas in the United Arab Emirates. It also looks like it could be showing in Hong Kong. Click the links below with the .pl, .ro etc below.

https://www.google.com/search?q=cinema+city+%2B+mulan&rlz=1C1CHBD_en-GBGB892GB892&oq=cinema+city+%2B+mulan&aqs=chrome.0.69i59j0.13484j0j15&sourceid=chrome&ie=UTF-8

The today for gawd knows what reason the sp gets hit from 57p to 50.42p at one point.

Government announcement on Covid19 later in the day.

Announcement happens and there is a repeat of preventative guidance re handwashing, masks and social distancing and a Rule of 6 imposed reference the maximum number of people that can meet in a group either inside or outside premises.

Impact on Cineworld should be negligible as cinemas remain open and the rule of is not onerous. It had been leaked to the media beforehand in any case.

Yesterdays fall was supposedly linked to fears that a Government announcement would revert things to a national lockdown in the UK.

The first thing to note is that Cineworld have 787 cinemas and with approximately 73% of those in the USA and the rest being in Eastern Europe (Bulgaria, Slovakia, Czech Republic, Hungary, Poland, Romania) Israel, Hong Kong and the United Arab Emirates etc.

The outcome of the Government meeting was NO National lockdown but a tightening of restrictions solely focussed on Bolton and on hospitality such as pubs, bars and restaurants.

Cineworld have one multiplex there which can still open and would only have to be closed by 10p.m. Still open and last showing is 19:50 so compliant.

No impact at all on a 787 Multiplex cinema chain