Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Jtan
I see WAY MORE people telling others to sell than I do telling people they should buy. It’s every 3 or 4 ****ing messages. Bizarre.
HAHAHA I was wondering where all of the sad ‘shares will be suspended’ and ‘you will loose all of you’re monie’ people had gone.
Back on this board on a Saturday morning crack of dawn. Get an ACTUAL life haha. Go out for breakfast, go for a nice walk. Do something constructive with your life :)
I guess we will all have a better idea of what’s going off at 00:01 Sunday morning!
I agree we are truly last in line, but because Cineplex won’t get anything, I believe Cineworld and Cineplex will come to an agreement (reduced settlement) and that save them from bankruptcy.
Cineplex share price has been red red red everyday since the initial news broke out on Wednesday 17th August… They know they aren’t getting a penny from Cineworld if they push it into bankruptcy.
Cineplex is like the 80th person waiting in a queue at the bus stop, and then a 79 seater bus turns up. They’ll get absolutely nothing.
Aj
You are correct but we only have RNS data regarding institutional investor buys / sells up to Monday 22nd. I don’t think they would have offloaded much/anything on the Tuesday (23rd) or today, I do wonder how much (if any) they sold yesterday, as it really was a bad day for the share price.
20% up after hours today though so doesn’t all seem negative
Stuart Little
Stop calling people stupid. You literally bought £5k worth of shares and sold them for a big loss around 24 hours later (according to your posting history). The only real idiot around here is you.
Don’t know why everybody keeps banging on about McColls (a **** corner shop brand) and Debenhams (an outdated department store). Totally different companies to Cineworld
All options still apply today though.
So what do you think will happen?
Honesty can’t believe how many people are missing the point. Yes the article is 6 months old, but points within it about cineplex are still very much valid.
The point I made that Cineplex will negotiate a much lower settlement is still very much valid 6 months down the line today.
What do you mean?
7:50? That’s a bit late for you. Normally you’re on this board 7am on the dot
Why haven’t they already suspended the shares then? Why is Mooky letting the share price crash if there is going to be a total wipeout of shareholders. Surely you’d suspend straight away like McColls did, to lock in investors and to stop money leaving the company.
You’re completely missing the point. Cineplex will still want to negotiate a reduced settlement with Cineworld because they know that if they go bankrupt, they get nothing. The article was written 6 months ago but that point still remains very valid!
Not ramping at all. Never have I ever encouraged anybody to buy, sell or hold.
Yes it was published back in February / March time. But the key point I’m making is that I strongly believe Cineworld and Cineplex will be renegotiating the original settlement because it’s either that, or the go bankrupt and Cineplex get nothing.
I agree. As I said earlier…
Why haven’t Cineworld suspended shares 8 days after the initial news broke?
Why would they not want to suspend and lock in investors so lenders could recoup as much as possible from us if they were going to wipe us out?
Doesn’t make sense. I don’t think this is as simple as McColls… I think something fishy is going on behind closed doors, good or bad, who knows…
Cineworld probably wouldn’t win the appeal… But the point is, Cineplex know that Cineworld have the upper hand in the sense that, we’ll agree a much smaller settlement or we go bankrupt and you ain’t getting a penny.
(End of article)
So it’s highly likely that Cineworld will be negotiating with Cineplex right now about reducing their claim significantly.
Also notice the tone of the lenders. They really don’t want cineworld going bankrupt.
Still, any new claim would remain subordinate to secured creditors in bankruptcy, giving Cineplex little benefit in forcing Cineworld down that path.
“Any waterfall of payments in a situation of insolvency or restructuring would require addressing the priority of different claims,” said Abigail Klimovich, an analyst at S&P Global Ratings. “The collateral definition is quite specific in terms of the claim for secured debt holders. Any other claims that do not have specific access to the collateral would rank junior to the secured debt creditors.”
Cineworld, which operates in 10 countries, has pointed to positive signs for cinemas should it survive this latest threat of bankruptcy. It said that with the release of Spider Man: No Way Home, which became the first film to gross more than $1.5bn at the box office since the start of the pandemic, revenues had reached 88 per cent of 2019 levels across its 751 cinemas in December.
But Cineworld is not out of the woods. Klimovich said that a further rise in Covid-19 cases impacting people’s willingness to attend the cinema, or delaying the release of blockbuster films could still impair the company as it seeks to pay down its debts.
In order to boost its cash position, Cineworld said on Tuesday it had entered into negotiations to delay payment of a separate $170mn settlement owed to shareholders in Regal, the US cinema network it bought in 2017.
“They need to resolve their acute liquidity problems and their capital structure then there is the litigation issue, but it is not the main problem at the moment,” said Klimovich.