RE: As graphs go...11 Jul 2023 15:07
Hi Mountainous and thank you for your intelligent and well thought out post. I enjoyed reading it and agree mostly with it.
"Why does CINE need equity-holders to be on their side?"
I agree there is no legal bases for it as of yet, but in a uk court if you can put a good argument forward for it a legal base could be found. There could be a statutory appeal lodged by shareholders. There are many different angles, they could take, one could be, For example,
It could be argued that Mooky has financially benefited out of this situation that is partly of his creating. I could understand him getting 1 million or 500k but how does he justify 35 million to a UK judge, when shareholders have got nothing. What exactly has he done for 35 million?
For me, it's a cultural thing. Everything is large, fast and over the top in America, even blatant corruption can be considered a Reward and Mooky being deserving of it, "The Poor man deserves it", "he has struggled" lol. We in the UK are small, grounded simple people, I can see big arguments kicking off regarding Mooky and co getting 35 million and shareholders nothing, in front of a uk judge. I have seen no justification for Mooky getting 35 million as of yet, that would hold up In front of a uk judge.
Shareholders representation/lawyers could argue that mooky was complacent in some sort of corruption or there was some insider dealing or the CEO looked out for his interest rather than the shareholders interest. There are many possibilities here but the bottom line is it delays newco and adds to cines expenses. So I believe we will get paid, it's easier and quicker.
Just my opinion I could be wrong.