The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
well received delito and just crossed 8 million shares with you
well received Emerald
my email is "i.grama at yahoo dot com"
Update: 16 signatories holding 7 million shares
the letter was shared on hjgwhite discord server, people writing from there as well now
+ name, on email pls
1. Add your name and shares number to the list of signatories (find my email address in an earlier thread)
2. Contribute any idea to the letter
Update: we are 11 so far with a total holding of precisely 5,568,314 shares
Update: we are 9 so far, holding in excess of 4 million shares
I don't know if a miracle will happen but you never know until you try. I for one will make one last investment in Cineworld, which is the USD 80 for DHL priority mail :)
"You may say I'm a dreamer, but I'm not the only one"
Update: 6 names on the list now and a total holding of 2.3 million shares
let's pump this up some more
I have added this for the end of the letter (suggestions welcomed):
"Therefore, we are kindly asking you to take us into consideration while deciding over the soon to be proposed Plan of Reorganization. We strongly believe that a minimal inclusion of the current shareholders in the future path of Cineworld would be fair and consistent with the financial and moral support that we have invested in the company throughout its hardest days. As a reference, the RSA is suggesting an allocation of 7.5% of the new common stock to the future management team of the restructured Cineworld. If there is such space, willingness, and ability to spare a percentage of stock for parties which have had zero contribution or investment in this company, then why not do the same gesture for the long-term shareholders? It may not be much in the greater picture but a fair gesture of recognition for individual shareholders, and one that would make a lot of difference for them."
when sending me your names please include your holding
foe the ones who already wrote please complete this info
Update: 2 names already added on the list of signatories, right next to my name. Thanks for the ones writing to me on email.
that is at yahoo dot com
I plan to send this letter by postal services on Thursday to allow time for your suggestions and contributions.
Anyone who wants their names included in the letter can send their names to i.grama********** (to keep it private).
To: Honourable Judge Marvin Isgur
From: A group of individual shareholders of Cineworld Plc
Regarding: Plan of Reorganization for Cineworld Plc
Dear Judge Isgur,
I am representing a group of individual investors which have collectively agreed to send you this letter, for your kind consideration while approving the said Reorganization Plan.
Our group consists of long term holders of Cineworld share, which have supported the company through extremely adverse times and held the hope that once a restructuring will finally come to pass, it will include the individual shareholders into the new entity and the new ownership structure.
Unfortunately, we were misrepresented during the Chapter 11 proceedings and that has led to a Restructuring Support Agreement which is completely ignoring and eliminating us.
Please be so kind to take into consideration the fact that the future value of Cineworld over the mid-term is expected to recover to pre-pandemic levels and be significantly higher then its current Debt. We strongly believe that this value would allow a certain minimal recovery for the individual shareholders, alongside secured and unsecured creditors, without creating any prejudice to these parties in terms of their expected recoveries.
Therefore, we are kindly asking you to take us into consideration while deciding over the soon to be proposed Plan of Reorganization. We strongly believe that a minimal inclusion of the current shareholders in the future path of Cineworld would be fair and consistent with the financial and moral support that we have invested in the company throughout its hardest days.
do we have anybody here which is located in the US? It would be easier to dispatch the letter.
And please send your proposals for text to be included.
they replied and directed me as follows:
"the court address is in the case website: United States Trustee and Court Information Office of the United States Trustee
515 Rusk Street Suite 3516 Houston, TX 77002 https://www.justice.gov/ust-regions-r07/region-7-southern-district-texas-houston-division Phone: 713.718.4650 Fax: 713.718.4670"
Should we work together to draft a shareholders letter? Any contribution would be appreciated and who knows, could make some difference as opposed to doing nothing.
I wrote this on the Kroll live chat, I will keep you posted on what I get:
"Hello. I am representing a large group of Private Investors holding shares in Cineworld Plc. We have written a letter to the attention of the Court and the Judge presiding this Chapter 11 case. Please advise what is the mean of sending the letter to the said recipients. Thank you."
Fellow LTHs, I would like to propose all of you to associate and write a letter to Judge requesting to reject or amend the proposed plan as being unbalanced, unfair and completely disregarding the very people who believed in this company and supported it with their money. Let’s ask to be included in the recovery at no matter how low degree.
Who wants to take over this initiative? How should we proceed?
There is a (slim) chance the Judge will see it the same way as unacceptable.