The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Any seasoned investors that can give a stab at what implications of a no deal Brexit announcement will have on our Cine shares? Will a confirmed stalemate cause a second market crash? Any thoughts?
Does the closing of the deal mean the cash transaction is now complete as the company’s market cap hasn’t changed a jot
At least 75% of creditors (by value) must give their consent to the proposed CVA in order for it to be implemented. Should creditor approval be given, the proposal will be put in front of shareholders during a shareholders meeting who will then be asked to vote on it.
A CVA requires the approval of more than 50% of shareholders in order to be passed. In the event of a company with two shareholders therefore, both must agree that the CVA is the correct course of action for the company and give their consent. If both shareholders cannot come to an agreement then the CVA cannot be passed.
For companies with a larger number of shareholders, however, this rule means that a CVA can be passed without the support of all shareholders, so long as the majority are in agreement that doing so is in the best interests of the company and its creditors.
What happens when a CVA is accepted by shareholders?
Once approved a CVA becomes a legally binding agreement meaning both the debtor company and its creditors are obliged to adhere to its terms.
On the part of the company, this means the agreed monthly payment must be made on time and in full. This payment will be made by the company directly to the appointed insolvency practitioner acting as the CVA supervisor; the insolvency practitioner will then distribute these funds to the company’s creditors on a proportional basis.
The shareholders remain in full control of the company throughout the period of the CVA (which typically last for between three and five years) and are able to continue operating as normal during this time allowing them to trade out of their financial issues.
Once a CVA is approved a legal ringfence known as a ‘moratorium’ is placed around the company which provides protection against further action from creditors. This means creditors are no longer able to instigate further collection attempts or commence legal action against the company in question so long as the agreed monthly repayments are made. Creditors cannot demand additional repayment amounts in order to reduce the debt quicker, nor can they take action to wind the company up.
You shorters are forgetting this word haha
Hosai, why Hyve??
29th October @ 1700. More important SP predictions on completion of the deal? My guess is 68p
I concur, growth and reduction of debt. Although no one knows what the government’s next move will be and how this will effect business things that are certain is Non-pub sales are exceptional in areas locked down and the JV will certainly bring in cash and make this business more attractive. Hopefully the market see’s the positivity here. GLA
My opinion is that not only do these earning reports detail the results from the past, they always project a future earning forecast and business outlook. With the JV now highly likely to close this month the future outlook will be significantly enhance with the additional funds the JV will bring. This should be seen in a positive light by the market and I believe the SP will rise tomorrow. It therefore could be the last chance to buy in at these levels before the deal closes and the SP rises significantly. I could well be wrong and this is just my opinion. For this reason I’ve opened a position here. Should it dip tomorrow then I’ll just be holding tight for when the JV deal closes. GLA
Is this JV legally binding at this stage or is there a chance Carlsberg could still pull out before the transaction is done at the end of the month?
I have a HL account but cant get a quote. Anyone know a successful platform. My understanding is due to it being a FTSE AIM share they run auctions at random times? Has anyone managed to execute a buy in the past 24 hours? Or know of a platform that executes these orders with ease?
How long does a trade usually take on Trading212? Won’t execute even a small amount for days.
Good to see a small reduction of short position from Citadel. Adding to the positive sentiment that is being generated.
Can someone explain the RNS?
The 33m is just an UT at 27p. When a buy price and sell price match at auction. Not actually a new buy
Any reason why there were some hefty sells after market closed
Easily achievable if the collective hold out
Shares or £’s
Can someone with L2 confirm the trade at 16:34 as a buy or sell? platform advertised on Twitter recorded this as a buy but LSE showing as a sell??
Lol