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Is there a link to hear audio playback?
Any updates on the hearing ?
Hey Wolfie. .... is this legal? For the BOD to get golden parachutes via a payout to leave,
while shareholders get shafted?
In my opinion, the New Co should pay shareholders a penny on the pound one time gesture to walk away also . The company they will get is undervalued, and they will be in the black soon enough ....
What a moral injustice.
Can someone post the article here? or link that is not a paid site?
So Mooky drove the company into the ground, and he gets a "golden Parachute" ?????
While shareholders get nothing????
This is criminal !!!!!! He needs to get sued. Shareholders deserve something !!!!
Good luck. And please express a big "Thankyou" to the rest of the team advocating on behalf of shareholders!
Hey Patience. I am in to deep to warrant selling my shares.
Is the goal to:
1. Get a settlement for shareholders (pennies on the dollar) - how much would be fair?
or
2. Re-negotiate terms to include shareholders with new equity in new Co ?
which is more likely?
Is there anyway to dial into the hearing today? is there any audio conference dial in info ?
Hey Wolf... the tone in your posts have changed. Thank you.
Any ideas that can help us turn this around is appreciated !
The Cineworld Telegram group have got really excited that an exhibit list has been added to the docket list:
https://cases.ra.kroll.com/cineworld/Home-DownloadPDF?id1=MjQzMDA4NA==&id2=-1
This is a list of the evidence that the shareholders intend to rely upon in a hearing that's now scheduled for 10am Texas time tomorrow, which is 4pm BST.
One of the items on the exhibit list is docket number 19:
Declaration re: Declaration of Israel Greidinger, Deputy Chief Executive Officer of Cineworld Group plc, in Support of the Debtors' Chapter 11 Petitions and First Day Motions
https://cases.ra.kroll.com/cineworld/Home-DownloadPDF?id1=MjI3NTgwNQ==&id2=-1
I've not read this before but it's interesting in terms of the background. In particular it's the first time that I've seen written confirmation that Cineworld was going to breach the covenants on its RCF as at 30 June 2022 - see paragraph 26.
Hey Wolfie...
Thanks for the self reflection!
But please stay the course.... what happens in the dark (Mooky & BOD) will always come to the light! Or third party evaluation???
Lets see how this plays out...
Mr. K
Holly cow Wolfie !! need to get a cup of coffie and legaly digest....from your post.
PS. - For future referance, please executive summerize!
I do not care what you say!
Cineworld will rebound in the future: debt reayment cut/ prolonged to long term agreements. and you cant include current shareholdeers...
based off the valuation, morally this is wrong..
Wolfie... Sorry. I am old school. Need to take you to task here:
1. CINE provided one set of valuation number.
2. A proffesional valuation company was hired and presented thier numbers.
3. If a 3rd part company was hired and thier numbers do not align with CINE's.
***Yes sir.. a case should be made of fraudulent efforts against shareholders..
Wake up wolfie! We dont trust the CINE numbers.... if the deal they made was this bad... who knows how they played with the numbers!!!
Bloody hell wolfie !
Ch 7 .. should proceed and everyone loses!.... or... just maybe... the new Co owners can pay a small gester payment to satisfy shareholders (pennies on the pound), and we all move on?????
Elvis & Wolfie... do you concur?
Hey Elvis....
at this point, the strongest defence for shareholders, would be to prove that
the numbers presented by CINE were in accurate. Ask to have a nuteral 3rd party valuation company (audit) and verify the true value of CINE....
Look on the surface we go from headlines... CINE might not make it through CH11, then to 1 million in profit in April?????
I have a gut feeling... if it can be proved that the company should be valied higher... it might be leverage enouph, to bring the current parties, to ... pay out..
existing shareholders, even with a token pennies on the pound gesture....
Hey Wolfie... any feedback? your kind of quiet my furry freind. ;-)
If we can get a third party valuation, and their numbers are vastly different than
the presented CINE numbers.
We should sue and make a claim for fraud. Cine intentially devalued the company / assets value , presented lower numbers than reality in order cheat shareholders.
Wolfie... any feedback?
Hey Elvis. I am sure Wolf is combing through the data to make a detailed post.
Thanks in advance Wolfie !
PS. Wolfie please send word to Mooky and the BOD that we LTH / shareholders are not
going to take this plan and would prefer he re-engineers a plan to include the shareholders.
We wont rest until this happens!
Patience, please have the lawyers review the numbers and info. Hmmmmm something is not adding up here?
Hey Wolf, feel free to chime in here ;-)
Cineworld have published the monthly management accounts for April:
UK Debtor Group, including head office expenses
Https://cases.ra.kroll.com/cineworld/Home-DownloadPDF?id1=MjQyOTI5Nw==&id2=-1
Loss of $44.4m
US Debtor Group
Https://cases.ra.kroll.com/cineworld/Home-DownloadPDF?id1=MjQyOTMwMQ==&id2=-1
Profit of $45.7m
Picturehouse
https://cases.ra.kroll.com/cineworld/Home-DownloadPDF?id1=MjQyOTMwMw==&id2=-1
Loss of $0.1m
So overall there was a profit of $1.2m for the month of April.
If this emergency motion could just leverage us into getting a shareholder / equity committee...
This stock would jump. Fingers crossed.