Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
"27. Cineworld, with the assistance of its advisors, repeatedly sought to again engage with the Ad Hoc Term Loan Group and other lender constituents and potential financing sources in 2022. These parties, however, were either unable or unwilling to provide additional financial flexibility and runway to Cineworld. For example: (a) in January 2022, the Group requested $250 million in new priming financing from certain existing lenders, which was rejected; (b) in
Case 22-90168 Document 19 Filed in TXSB on 09/07/22 Page 15 of 65
February/March 2022, the Group negotiated a $70 million third-party rest of world loan add-on from certain existing lenders, but the Ad Hoc Term Loan Group was unwilling to provide required consent to permit the financing; and (c) in May/June 2022, the Group renegotiated the terms of the Settlement Facility (as defined herein) to extend its maturity by three months, which amendment was never approved by certain existing lenders.
28. Additionally, throughout 2021 and 2022, Cineworld, with the assistance of its advisors, explored other potential opportunities in addition to its primary focus on raising incremental financing. These efforts included assessing an array of potential strategic options, including: (a) a sale of the Group’s non-U.S. assets; (b) a merger with a North American counterpart; (c) a SPAC transaction; (d) an equity raise in the United Kingdom; and (e) a potential secondary public listing in the United States. Despite extensive efforts, none of these possibilities proved actionable. And while Cineworld would, of course, have welcomed the liquidity of becoming a “meme stock” like AMC, we were never so lucky!"
https://cases.ra.kroll.com/cineworld/Home-DownloadPDF?id1=MjI3NTgwNQ==&id2=-1
Page 15: https://twitter.com/_rewardrate_/status/1567705341885923329?s=46&t=zVkmcS8RZkgG5_zkg-gyBA
"As of the petition date, the groups liquidity has declined to less than $4,000,000 cash on hand."
Very touching declaration from Israel and goes deep into their family history and shows they will do anything to preserve the family legacy!
"32. As with its response to the unprecedented challenges it faced each step of the way during the pandemic, Cineworld’s actions and planning will enable it to maximize value for its estate, position it for success into the future, and help preserve the family legacy started by my grandfather and grown from generation to generation."
I have posted the list of leases to be rejected here:
https://twitter.com/_rewardrate_/status/1567680749725270017?s=46&t=ctYtDQxBJ4-0xwP2eE4mNw
So iv just been reading through one of the court documents here: https://cases.ra.kroll.com/cineworld/Home-DocketInfo
It appears they will save $12,000,000/ month just By cancelling just 20 property leases.. good riddance to those 20 properties .. the average rents have gone up by 30% since 2019 on average over all properties.. no wonder they are struggling
Sorry that might have been the train company..
"The Siberian Generating Company (SGC) is the largest thermal energy producer beyond the Urals and produces a quarter of the electricity of the Siberian power system."
Maybe that was the coal company
No, these are a new type of share that only goes down
Should have been made public on official channels like an article or something.. not on her private account .. ahh well
Why does it matter where it came from.. it wasnt something everyone had access to until she posted it on twitter
Yeah because she had inside information.. bang out of order
Dyckheadd
Q1 2023*
Dont think about how low the SP is.. think how well the recovery between now and the end of Q1 2021 which will decide how much equity the lenders will want of the US business to cover the debt.. there is a chance that a few movies do extremely well and it will value the company way higher in the eyes of the lenders and may leave some equity for shareholders.. the UK and RoW cinemas are not involved in the chapter 11 but there are many options being looked at including a scheme of arrangement in the UK
I still see a way out as i am ever the optimist and think there is a great slate of movies lined up
Gl everyone
Even if we were to come out the other side only keeping the advertising business and no debt our shares would be worth more than currently :) anything else will be a bonus :)
Bankruptcy protection idiot
Ian ****sss offff :)
Poorinvestor you are thinking of it entirely wrong, Hexam is closer to how it will work.. the company wont pump the price up.. the price will recover once a deal gets worked out to clear alot of the debt..
I personally think we will split US part of the business into a new listing and we only keep a certain % of it but the main thing is just surviving and can always buy back as and when the money starts rolling in and we are in a better position
Because all they need is the time to get through to the good films and then they can prove they can continue business as usual and possibly no need to deleverage
And Cineworld still undervalued as chapter 11 will just give US side time to get through till decent movie slate
Gl everyone :) onwards and upwards