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.
Hexam, I am not arguing but it might be that no recovery just means that none of the new common stock will go to existing holders. Agreed, no such recovery, but the existing stock might still be around. I did not see any reference to a new company with a new name, etc. Restructured Debtor means exactly what it says: restructured Cineworld.
Hexam, the wording is "the issuance of New Common Stock". It does not say the EXISTING shares will be canceled, on the contrary as long as they say new common stock will be issued, that might mean that this comes on top of existing common stock. Could be a huge dilution agreed, but maybe this interpretation is not impossible?
Retail, how could the shareholders not benefit from a sale of assets on the book of a company where they hold interests? Where would the excess over 271M go? Anybody having any claim on it?
And I don't think there will be any NewCo to handle ROW. ROW is already outside of C11 and is continuing its operations independently. Or am I missing something here?
Retail, why do you exclude the case of ROW being sold as an alternative positive outcome?
If we would benefit from ROW being retained we should benefit from any sale proceedings as well. Same logic applies.
Farewell HNS, was good being in the same boat for the last 2-3 years.
All the best.
This is the only topic that still might have some substance for us. What are your ideas here?
how can this be if ROW is not part of Chapter 11 and if it pays off its debt? How could shareholders not be entitled to their share of the assets sale?
I did, no mention of interests in ROW or of shares suspension.
HNS, Tegop, the answer will be given in the morning by the survival or suspension of the shares
What else to do or say but filter such a creep
After the D2E will be done, it will be followed by rights issuing for all old (lenders) and new (us) shareholders to bring in new capital to finance the newCo.
Hopium and heavy loss are extremely strong reasons. What other sophisticated answers you might look for?
Thats absolutely not what the article is saying. You need to read again after coffee.
check this out, it is almost confirmed that ROW will be dismantled and sold. I see it as great news!
they just published it online:
https://www.bnnbloomberg.ca/cineworld-lenders-plot-management-handover-amid-buyer-interest-1.1900977
source pls
Filter. Use the filter. Filter.
We only know the suitors which came out to light. I am pretty sure there are many more.
Hexam and Bonkers,
I would agree that this is just a mandatory formality, except one thing does not fit my logic. So they are saying "Where the net assets of a public company are half or less of its called-up share capital, the directors must call a general meeting of the company".
Has this KPI been breached now, suddenly, during this week?! I would argue that rather not. Both net assets and capital have been linearly staying where they are now for quite some time. I don't think that the respective ration just dropped now to call for this GM to be called on that account...