Member Info for mountainous

Hello BlakeyTrader, I am not a legal representative so I’m going off of my own knowledge.

On paper, Cineplex did not exceed the $725m. It is the way they went about it that caused the problem. They seriously deferred payments and potentially put themselves in bad standing with distributors and landlords and made deals without our consent, which was listed in the agreement. That is what Mr Steep and his group keep bringing up, amongst other things. In my honest and unbiased opinion we have sufficient evidence to support our side of the story.

This is all from what I’ve seen and heard, but that’s my 2 cents on the story :)

One thing: well done Mooky. The cineplex lawyer was giving me school bully vibes today, when he was saying ‘do you want me to spell it out for you’ that is completely unprofessional and unnecessary. Mooky explained several times that his English is not the best, so the professional thing to do is to have patience with him. What a complete idiot, I hope the judge has taken special notice of that today.

On the other hand, Mooky has really stood his ground today and I am, for one, extremely proud that he is our CEO. He said throughout that we had the intention to complete the deal, and he did not allow the lawyer to overcomplicate and overwhelm him. He was calm and collected as many have pointed out. Tomorrow we continue and it’s going to make for very interesting watching. I have confidence in Mooky for sure.

Yes anewman, I saw that earlier too, he said that he wasn’t thinking about the shareholders or the stock price when it came to terminating the deal, which shows there was no conflict of interest :)

Same bombdog, didn’t want to say it exactly, but it’s a bit concerning…

Mooky is nearly 70, I don’t think he’s ever had to deal with something like this and the Cineplex lawyer isn’t exactly facilitating the guy. At least Mooky isn’t falling into the trap of saying yes or no if he doesn’t understand.

Anewman - Fu*king hell the Cineplex lawyer is trying breaking Mooky to pieces. I just logged on a few minutes ago and saw that it was the Cineplex lawyer. He’s using all of these complex legal terms to try and get Mooky to say yes or no specifically but he isn’t getting an answer from him; Mooky is standing his ground.

lpd I also brought this up earlier too, they did not seek proper consent before that deal was closed. Even if they somehow get away with driving the company to the ground to avoid the $725m debt limit, the Queensway merger is still under our belt as a defence

lpd- what do you mean by a notebook entry? You enjoyed what you read?

pastyc for your information, cineworld is not currently at risk of bankruptcy. This has come from the CEO’s mouth himself where he said that we are currently able to manage the level of debt we have.

We are now in October and no signs of lockdown in sight, something many of us were concerned about back in the summertime. So no, we will not easily collapse.

Went to the cinema earlier in the day and I saw something that I haven’t see for a while, a lot of elderly people! They were quite a few coming out from a screen as I was going in, and I was quite surprised to see it. Considering the amount of people that came out I assumed that it was a Bond showing.

I think this goes to show that confidence in that age group is beginning to come back, something Mooky was saying was not happening when we first opened. Great to see, even for a Tuesday afternoon a normally quiet cinema was busy. I also noticed that Cineworld is really hitting hard at the new 3 month trial for unlimited, and it had its own main feature in the trailers today. I would expect that we have managed to get some new customers to become returning customers with that as well, I think the promotion was perfectly timed :)

Good question Danf, I would not be too sure about that.

If the swap does occur, perhaps asking Barclays directly may help. It may be that they sell the shares and it would be left to you to purchase the new ones with the capital.

Ianharding is also spot on, it would also require shareholder approval (which I think it would get very easily), and it would take some time to get the switch done, so still some time to go.

Mooky did just mention it as a possibility and that they were looking into it, so no guarantees, but will be interesting to see what happens. I would expect to perhaps see something by the end of the year with that (hopefully anyway)

Good Evening Danf, hope you’re well.

With regard to the US listing, I would not worry too much. It’s worth noting that the CEO and his brother own close to 30% of the shares combined. Anything they would do with respect to a US listing would be in the best interest of shareholders, considering they are one of the largest ones themselves.

I can envision perhaps a swap for the shares. For example, 1 new US share for every 10 UK ones (purely just an example). I highly doubt they would disregard the old UK equity and then issue new US equity, that would be massively disadvantageous to them and the rest of their shareholder base. At least if they do a swap they keep their shareholder base mostly intact.

Personally, I’m not very fond of the idea of the US listing due to the fact that I would then have to deal with FX, as well as a large tax on US dividends, which would be a big shame considering the nice dividend that we are all in line to receive once they get reinstated. However looking at all the games being played with our current UK listing, I think it’s our only option right now. As Chox has pointed out CNK is up 5.7% today and we have unfortunately dropped by quite a bit. After possibly the best opening weekend in the past 2 years this is what we are rewarded with as CINE shareholders, it’s a complete joke. We also have a government that has proven to be totally incapable in resolving anything to do with the economic state of the country, we have energy suppliers going bankrupt left right and centre and we are in for perhaps a brutal winter with the current supply chain issues. All we need now is for Evergrande to fold and then the UK stock market would probably get burned to a crisp.

I still have a strong faith in cineworld, even in that case I would happily pull money out and buy up shares, nothing would happen to the company materially it would just be a case of the stock market reacting negatively to an event that has zero effect on the UK.

Hey ho, the joys and excitement of investing XD

Indeed KickThePuss, however we can never be too certain, for Jangho it is all just a button press away I suppose. You never know what’s around the corner haha

Either way, I’m confident in the long term future of the company, and therefore the stock. Sure, it’s annoying that we’re still bouncing around, but with patience comes success…

Hello KickThePuss, Jangho is indeed China-based. Whether they decide to dump is a different thing. At first look, I can’t see why they would as they are not $300bn deep in liabilities. The only reason I can see is if they don’t want to stick around for the crash afterwards and decide to sell off their CINE in advance, let’s see what happens though.

It would be a buying opportunity in my eyes.

Evergrande is the root of the problem here, they need to let the piece of rubbish go bankrupt or do something about it quick. Very annoying how they keep dragging it out and more out, we could have had the crash over and recovering by now.

Very well could have a bounce back later on today, off to see Bond tomorrow in 4DX hopefully :D

Also seeing some new users here, warm welcome to you all :)

Hello Cruis, I believe the last court hearing is on the 22nd October.

Spot on FunInvestor :)

Also apologies about the error in my post last night regarding the base case, you are indeed correct that the US also needs to be factored into the equation there. Maybe I was too caught up in the excitement from the success we’ve had this weekend that I forgot that XD

If we see middle 80s tomorrow, I will be very happy indeed :)

I think we are all in agreement here that we have well exceeded the 90% base case scenario this weekend. Remember that this is 90% of the PRE-COVID attendance, not the capacity itself. With many here stating that they’ve seen the cinemas packed out at a much higher rate than pre-pandemic, we will almost definitely be at 100%+.

I also have cause to believe that we can maintain this 90% base case figure for the foreseeable future for the following reasons;

1. Bond will continue to bring crowds in. As Monday-Friday sets in we will see a decrease, however come next weekend I believe that we are going to see another surge again. Not everyone could watch it this weekend, and I’ve also seen that quite a few people are intending to watch it twice, including a few here.

2. Q4 is just getting started. We have a fantastic line-up ahead of us. Dune, Spider-Man and Matrix instantly jump to mind. What we’ve seen this weekend is bound to happen again during this quarter, I can already see it with Spider-Man especially seeing how much attention the trailer got when it was first launched.

3. COVID doesn’t appear to be causing us any problems for now. What we’ve seen with this government is that things happening on the inside leak like a sieve, so if new restrictions or lockdowns were on their way we would have heard something by now imo. Deaths and hospitalisations now on a steady downfall having a quick look at the dashboard, and with the new Merck pill on the way I think we are finally seeing the light at the end of the tunnel with COVID. Most people have got the vaccine, and those that don’t want it for whatever reason now have an alternative with the pill.

Exciting times ahead for the company imo! Now I’m just really hoping for a trading update RNS to be released sometime during this week or next with regard to Bond, and I think the sp will start flying even further.

Have a pleasant Sunday all :D