Member Info for mountainous

@Tegop, good morning. Hope you’re well.

It just now feels like our fate is sealed. No payout in the event of any deal, and insufficient creditor support to allow us to get even some of the money back, and CINE is not saying anything that is disproportionately negative in my opinion.

That being said, I was reading an article where Hertz shareholders were told pretty much exactly the same thing that we have been told, that they should expect total wipeout, but look at how it turned around for them. I am ready to sell now more than ever, but I am still very much on the fence.

@daddy-c, good morning. Indeed, I would have never thought that it would get to this extent.

Looking on the bright side, CINE has certainly taught me to disconnect from the money I invest, I haven’t lost a blink of sleep over any of it. Hope you are the same and keeping yourself well?

@LTHcine nice to hear from you too, hope you’re keeping well. You are certainly correct that stranger things have happened, it just seems like a huge chance of luck that something good happens to us after a warning like that. Of course, they’ve been warning us from the beginning but they’ve put it in black and white on Friday.

I wish the very best for every other LTH, there could always be a turnaround.

@LTHamigo, nice to hear from you.

Mooky was also going on deadline and giving positive messages during interviews. Who knows what the heck happened or what will happen next. I feel that with higher creditor support and a better economic landscape CINE may have secured a refinancing of their loans or some other form of leniency. Unfortunately, that is not the case this time.

Hello all, it’s been a while. I have placed the shares in the bottom drawer and left them there, but I just heard about some huge drop and some news and instantly ran here to check for RNS.

Wow. Those amongst us who were here pre-Jul/Aug 2022 will know that I was almost always one who kept optimistic, but let’s face it that RNS is shambolic. CINE have told us nicely that we should expect absolute zero. Before it was ‘no guarantee’, then ‘unlikely’, and now ‘not expected’.

Anyone with the theory that this is a ploy to get Cineplex to negotiate is wrong imo. We have been saying this for 1 year+ here. Before it was the FY results where CINE gave us the going concern worst case as being unable to pay CPX the bill and that CPX were unsecured, and we were all saying it was a threat to get them in. We said the same in August too. Neither CPX nor creditors care about the equity interests, so if CINE wanted to push CPX like that, they would have worded that RNS much differently.

Anyone also saying that we should wait for box office to improve is also missing the point imo. Creditors want their money and want it asap. From August, we have had 6 months to improve income and unfortunately the box office performance has not proved to be sufficient. Creditors will not keep waiting for the next one, and then the next and so on, they will grab and go, especially now that they have seen there is poor/little interest in anyone purchasing the company.

The RNS touched on the ‘any sale would not be for CINE itself’ point from last time, and now confirmed that they were referring to the equity. So even if they secured a sale of the company, the equity would not be sold for cash, so there would still be zero for us. Even worse than we initially thought. The exemption from the Takeover Code by excluding the equity also means (imo) that CINE is ready and prepared to take any sale without any shareholder approval.

What remains of interest to me is how Mooky emerges from this. Will he also be equally affected and be wiped out and keep to the ‘we’re all in this together’ mindset he gave me in the AGM last year, or is there an escapeway in place for him and his equity interests? I will be quite disappointed if the latter happens.

As for my shareholding, I will likely wait for a decent rise (if it happens) then cash out. How we LTHs emerge better than we entered is completely and totally unknown to me. For me it’s the biggest loss ever. The journey I’ve spent here since mid-2021 has taught me some very good lessons, and we can only rebuild and retry from here.

Peace and blessings to all.

@hussartbr I am overjoyed. I cannot wait until we finally get that RNS that clears it all up and puts us out of our suspense. If you’re going to shaft us, just tell us and let’s get it over and done with. If we’re home dry, just let us know so we can pop open the champagne.

@WolfOfWarks, good morning and thanks for your insight.

So if CINE forms a new entity and avoids the Cineplex problem that way, what would that mean for the shareholders (ourselves)? If the new entity is formed and the old one is scrapped, I assume the equity (and the investors) are also wiped out?

What is the purpose of extending this for 6 months? What do they plan to achieve with that? Is the 6 months that they have already been given insufficient?

I just wish to see the whole thing over asap lol

There is no such thing as more buys than sells or more sells than buys. The stock market works on a transaction basis, so when you buy, you buy it from someone who is selling.

2024 is more than sufficient time imo. Once inflation begins to stabilise, the BoE should seek to reduce interest rates back to normal levels.

As a plus, the strikes must have NEX rolling in the dough at this time. I was on board a coach last week and it was packed solid, NEX charging 4-5x usual price for some routes. Now that they are hedged against interest rates until 2024, they should look to increase their liquidity and put some aside in the event that inflation persists past Q2 of next year, but I don’t see it happening (hopefully).

Can’t wait to see this hunk of rubbish out of my portfolio now that it is finished. Does anyone with experience in this sort of situation know how long it takes for the stock to disappear from their portfolio once and for all? I also have a small number of MCLS shares from a punt earlier in the year and they’re still there too.

@Penta, I also hope the same. It is nice to have a small community of people in the exact same mess.

Hopefully we will celebrate soon though :)

@Hussartbr, good morning. I believe CINE said they anticipate that they’re going to exit C11 in January?

@Cruis, I believe it dropped from mid-40s to about 27-28. Even still, I would be really happy with that now.

@Wellington, spot on. Her judgement effectively choked CINE off.

I’m very hopeful that once we exit C11, maybe we’ll get another shot at that.

@Postie, Amen to that :)

@daddy-c-320, I really hope so. This would be a huge turn around if we did.

ps to @Hussartbr, hopefully we do come out of this without losing the whole lot lol.

On the bright side, after seeing that Sanders is leaving the board it reminded me that at least there isn’t a mass exodus of directors. You could also say that no insider selling is also a good thing, but I don’t know if there is any restriction on them doing that.

@Hussartbr, nice to see you, it has been a very long time.

I’m also holding on for this exact same reason. Already down about 85%, so we might as well lose the whole thing and wait it out. I have never been more excited to see the end of this, just for a sense of closure.

@antmoss, certainly. In fact, I started my CINE position seeing sub-90 prices and having full confidence that it would return back to 124 again. It was just a precipitous decline lol