Member Info for mountainous

so far so good in the context of so far we have no RNS announcement of Chapter 11 in US, which was something a media source speculated about.

All in my opinion.

This Sabah Meddings has a lot to explain for if no RNS emerges by end of day. I was patiently waiting for 7am to see what happens, but as it looks at the moment, nothing.

I expect a ‘response to media speculation’ RNS at some point, but perhaps CINE sees it as insignificant.

I don’t want to speak too soon, but so far so good. If CINE announces it mid-day then I expect a suspension first and then the announcement will drop, that is what happened with MCLS when they announced bankruptcy in the middle of the day.

I have just seen this on Reddit and hopped on here to see if it had been posted.

The source must be verified, but looking down the post someone asked and another worker sent a screenshot to them directly via chat and then the person returned and appeared to confirm it’s authenticity. I will take it as true.

If that is so, then I think it is safe to rule dilution out. If Mooky says things will get clearer soon, I can only assume that this means an RNS will emerge within the next 7 days explaining the next steps, and the sp is still much too low to dilute effectively imo. Either a relief deal or some form of additional financing has perhaps been secured.

Very true, we move forwards.

Quite sure this is now the 5th day running of high rises.

My average before this was close to 60 and now it is low 30s, but damn, I could have averaged the heck out of this share at around 2p and been in profit right now as we speak if I had the risk appetite.

Then again, it’s CINE, there is no way of telling what could have happened next

@HNS, sorry for the delay in getting back to you.

You certainly have a point in what you’re saying…

@Penta, great, I think that makes 3 of us total thus far.

With regard to the empty box, I have also heard of this, but do you think that CINE would have already used this by now? Or do you think that they are only using it as a nuclear option in the event that the appeal fails?

@Bonkers, thanks for your reply :)

Great @Srini, further details soon, would like to hear from some more LTHs too :)

@Penta, they are good points. For the first point, probably not a lot, as we are quite small in the grand scheme of things, but I think that there is power in numbers, so it could be worth a shot.

For the second point, I also agree that CPX shouldn’t really be getting much at all, talk less of $1.2bn. I watched the court case, and it was clear that they deferred payments here and there to try and keep under the debt, but that would mean CINE would need to pay it later anyways, so the question of whether CPX was the same company at the time of purchase compared to the time they signed the contract is one that is up for consideration.

But ultimately, I think I would prefer to perhaps just take a $100-300m settlement now rather than go to court and risk it. But it could genuinely be that both sides think they will succeed at appeal and they are keeping away from any settlement.

@patiencebringsit, I feel like now with the potential prospect of bankruptcy, the pressure is now higher than ever for CINE and CPX to reach an agreement in my opinion.

It could be the case that CPX believes that their shareholders don’t want such a settlement.

Hello all LTHs, hope everyone is keeping well.

Following on from the ‘mountainous’ thread and the seemingly very positive response to it, I propose an idea to everyone. Taking a quick look at the Cineplex convo board at Yahoo (https://uk.finance.yahoo.com/quote/CGX.TO/community?p=CGX.TO) it appears that many Cineplex investors are sharing concerns regarding Cineworld.

Cineplex, just like Cineworld, has increased their debt pile during the course of the pandemic, and they also have to find ways to pay this off. The $1.2bn court result would have been a great way to do this, but the issue is that Cineworld cannot pay it. Cineworld have made this clear on several occasions, and at the last earnings call they made sure to mention it very clearly.

So here is the idea, we as CINE LTHs establish a presence on their convo board and peacefully suggest that all of us, in one accord, email our IR departments suggesting that it is in the best interests of both parties to seek an out of court settlement for a smaller amount that is within CINE’s reach and will help Cineplex out too. By coming all as one, it will show that there is vast investor support for an out of court settlement. This way, it is a win-win for everybody.

The Cineplex convo board might not want to do it, or maybe Cineplex/Cineworld will just ignore it and nothing will materialise, but I think it’s worth a try. In the cinema industry, there have been times where companies coalesce together to help each other out. When movie studios wanted to drastically decrease the theatrical window (I believe during the pandemic), cinema companies came together to say that if they did that, they would not show their films again. If such co-operation was possible then, I believe it is possible now.

If you are a LTH, please express your opinions on the idea and whether you would like to partake.

lol I forgot about that guy, when he floats his company on the stock market we should do a hostile takeover :)

Take over the whole thing and liquidate the company, and then take the cash and buy a private jet.

lol @BlueBuxton, great to hear. I think at least if we can reach 10p in the short term our losses will be significantly reduced.

Hello @BlueBuxton, great on my side, how about yourself?

CINE is rising nicely, I’m hoping it continues, I see that US CINE is up 63%+, so tomorrow should still have a bit of momentum hopefully :)

Absolutely @Srini, I see that the majority of people here are just coming to make quick money on the volatility. Anyone who bought at the start of the week is probably sitting on a fantastic profit right now, and even if they day traded it correctly they would be doing very well.

Once the price perhaps stabilises (hopefully at a much higher point) I think we will see less of these individuals and the LTHs will begin to resurface.

@RS, hope you are well. You never know what is around the corner, if anything, CINE has taught me to keep on my toes :)

22nd September could be a huge catalyst, because that is when we will find out how much CINE actually has left in terms of cash, so we will be able to better gauge just how serious the situation is. If we find the cash balance is decent then easy rise in that case imo, because all of this concern is over short-term funding. In my view, CINE may still wish to do a rights issue to help pay off some of the debt, but they will want to do this when the price is significantly higher, and that is fine with me, I was expecting such.

We may also get some update on the RCF and dissenting payment, which we are yet to hear about.

Hey @Srini, I’m still around! I am looking at this board frequently but with 300+ posts on a daily basis it gets hard to keep up.

I doubled my investment at around 2.6p, so my average is now about 33p compared to nearly 60p before all of this. I am still of the opinion that CINE can turn it around because it is a short term funding issue. If they make it to November it is pretty much business as usual with the strong slate of films there, just 2 full months left. If lenders let this go with just 60 days left then they suffer a much bigger loss than us.

The RNS yesterday about Mooky’s holding was encouraging, we barely see CINE making an RNS/statement about anything, but obviously they saw something significant in releasing one yesterday.

The big investors we once spoke about are leaving by the looks of things, but now that means us retail investors must be scooping up the remains unless if @Ianharding’s theory of one large buying taking it all is correct.

Just a matter of patience, but I keep in the back of my mind that it is just 60 days left. You never know what could emerge, I was perhaps thinking that we CINE investors could coalesce with the Cineplex conversation board and suggest that both Cineplex and Cineworld investors email their respective investor relations departments and tell them that they believe it is in the best interests of both parties to reach an out of court settlement of some sort, because Cineplex investors are certainly panicking about it all too.

It is like this every morning from what I have seen, now 500%. Yesterday was in excess of 700%.

@Eddie_Temple, yes we have seen the FT article, and no it is not direct communication from CINE, so I will read it with a pinch of salt and acknowledge that what is stated in the article is their own opinion. Until I hear from CINE that it is finished precisely (or vast dilution or any other sort of detrimental action), I will not consider it finished.

You are also incorrect in your statement of a buyout. If someone bought the company out, they would need to purchase all the shares for a price, usually higher than the current market price. So no, it would not be a shareholder wipeout in the event of a buyout.

All in my opinion.