RE: big update, good news5 Apr 2023 19:12
letter to MOOK as well as the court before GM, IMO that's if he don't cancel it
so he don't have to answer any question ?
''ANYWAY''
2018
Today, Cineworld announces a fully underwritten rights issue, which is intended to raise proceeds of approximately £1.7 billion to be used to fund part of the cash consideration for the REGAL Acquisition (the "Rights Issue").
The Rights Issue will result in the issue of 1,095,662,872 new ordinary shares (representing 400 per cent. of the existing issued share capital of Cineworld and 80 per cent. of the enlarged issued share capital immediately following completion of the Rights Issue)
I WOULD LIKE TO SAY, THE LENDERS ARE NOT THE ONLY ONES THAT IS OWED MONEY
we are also owed $1.7b for the losses the SP has suffered through bad management
decision after that acquisition / dilution and COVID 19 lockdown for 2 years
and we don't see why 4 guys at the top should bust up 31% of the new CO between them
lenders get 69% , while telling us in numerous RNS that we will get nothing.. as our shares will be useless
after they cancel it, and re issue new shares in what bits of the CO that is left
WOULD THAT BE LEGAL ?
hopefully the tide will turn in our favor when the judge get to look at the plan
on the 7th tomorrow, and hopefully throw it out for been too one sided
for an unsecured loan, and it will need to be rework and refined to include us
even if it's in some small ways. we deserve to form part in any new CO future
ATB
chin up time is still on our side whatever happens in the days ahead