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Sorry Wolf, understood.
Wolf, Cineworld have informed shareholders there will be significant dilution, not a complete wipeout of shareholders. I don’t understand what part of that you don’t understand?
Not that I want to short this stock. Just wondering what this means for the share price? Does this mean people think it will go bankrupt imminently?
Why can’t this be shorted?
You’ve chosen to believe that there will be a total wipeout of shareholder value when the 2 RNS reports have clearly stated ‘significant dilution of existing equity’.
Any rise will most likely be because of good news. The share price has been bobbing along at around 3p waiting for any good news to follow.
Okay, well so far we have only heard of 1 institutional investor selling about 40% of their stake on Wednesday.
Doesn’t really seem like they are all selling…
Also if you read the first set of RNS reports by McColls, they warn investors for the start that regardless of the outcome, the shares will have no value.
Whereas cineworld have only warned of significant dilution and not of a total wipeout.
Wouldn’t be surprised if they just buy most of what they’ve sold back again at a cheaper price.
Also, Cineworld shares tanked from 20p to 8p due to the RNS being released on Wednesday. Volume was tiny in the days leading up to the RNS on Wednesday, so one could only assume that no insider trading / major offloading by institutional investors took place…
Cineworld have released the RNS reports they needed to and at the correct times.
The only party in the wrong is the WSJ and all of the other rags, claiming that they are going to be going bankrupt in days when the FT and Cineworld both confirmed that this was only an option.
This would have caused unnecessary panic to employees who would have been thinking that they have lost their jobs going into a recession with high inflation and energy bills. Absolutely disgusting.
Why would cineworld publish an RNS saying they are going bankrupt when they already posted an RNS first thing on Wednesday morning telling the market they have short term liquidity issues and that they are looking at their options…
The WSJ mislead the market by saying that cineworld will be filing for bankruptcy… The FT and Cineworld both confirmed this was only an option being considered…
Still plenty of volume (over 60 million). Lots of buying and selling
What happened to the inevitable suspension that was meant to happening today bud?
No point selling. I imagine most people here are sat at £5k - £50k losses… Significant dilution is better than a total wipeout… Of course a total wipeout is a possibility but imagine selling Friday or today to find that actually, you didn’t need to and you should have stayed in the game…
No RNS, then it will probably close 50% up at 6p. Might even close 25% down at 3p. Who knows. Markets don’t like uncertainly and doom, hence the crazy trading on Friday.
You forgot to mention that trading will be suspended!
They issued a brief statement saying:
‘We have nothing more to add beyond our statement on Wednesday’.
They’re in an awkward position. They can’t release a statement saying ‘Well we are considering bankruptcy and have appointed advisors but we are considering other routes’.
They issued their piece on Wednesday and they told us they would update us further ‘if and when appropriate’.
I wouldn’t be surprised if a story hits the papers tonight with more clarity on the situation…
I’ll be completely shocked if there isn’t an RNS tomorrow morning at 7am. Saying that though, cineworld have already issued a statement.
Well, if you’re offering ;)
Honestly aimmaster, what is your problem? 82 posts in the last 30 days, most of which I imagine are mostly in the past few days, yet all you ever bang on about is suspension… Very bizarre… Go out and enjoy the evening sun.
In. I could have cashed out on Friday for £300 but what’s the point.
I would be more annoyed if I had cashed out due to a newspaper and unknown source being wrong to be honest.
The Times offered a bit more clarity on the situation and all it mentioned was bankruptcy and closures in the US. Nothing about the UK or the UK share price…