Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
So the sale wouldn’t wipe out share holders? I’m guessing we will get to vote on any offer?
16k at 25p average :( will top up to make it 12-13p average
Chapter 11 Also known as Chapter 11 reorganisation proceedings and sometimes referred to as "bankruptcy protection". Chapter 11 refers to the chapter of the US Bankruptcy Code that sets out the statutory procedure for reorganisation proceedings under US bankruptcy law. (US bankruptcy law is a federal law that applies across all US states.) Broadly, a debtor that has property in the US can file a petition to commence Chapter 11 proceedings. The debtor does not have to be insolvent. When the petition is filed, an automatic stay comes into effect that prevents any enforcement action or the start or continuation of other legal proceedings against the debtor (§ 362, Chapter 3, Title 11, US Code). The automatic stay technically extends worldwide. This may be compared with the discretionary jurisdiction of the English court to extend the moratorium in administration proceedings beyond the UK (see Legal update, English court may prevent a creditor enforcing an overseas court order). Once the debtor has entered Chapter 11 proceedings, it is given an exclusive period of 120 days to file a plan of reorganisation with the court, that sets out a proposed compromise of its debts and/or reorganisation of its business. The creditors may propose their own plan if 180 days expire without the debtor's plan being approved. A plan is approved if it is accepted by at least two-thirds in value of each class of "impaired" creditors, acting in good faith (§ 1126, Chapter 11, Title 11, US Code).
If it turns out to be true….. You can’t get blood from a stone. I believe it’s fake news warped to help someone’s agenda whether to try sabotage Cineworld or a plan to give minimal value to screw cineplex when the court case happens, but you might as well see it till the end! Either way we have stayed this long and agree we should form telegram group for future shares
Why would the radio know before shareholders or official rns? Don’t think that is legal?
What money is left may as well stay imo. Lost most of it already and what happens if I am right? The source just being nothing but rumours and lies based on an unidentified source magnified by news who have nothing but click bait to get its clicks
The only waffle is the article, ina court of law you can’t make such claims without evidence. The business hasn’t changed they wouldn’t of released an rns on the 17th for 2 day later to figure out they got no money lol! Unless they use their fingers and toes to count!
Mountainous I was wondering when I would here form you, I hope your still optimistic about the situation today, I’m still holding my candle, feeling the burn a bit but still smiling :)
Just cause we glass half full rather than empty. It’s not good to be pessimistic but if you put to much in then more fool you, learn from your lesson here. We make mistakes to learn but scaremongering doesn’t help anyone, keep calm and look for solutions panicking will cause you to die quicker. So far the information is waffle as nothing official has been released, if it does then it looks like insiders caused the havoc! Not sure what could be done about it but not very good when the soles who snitched get named… I wonder what would happen to them? I’m sure Cineworld team are either causing this to prevent cineplex damages making a company worthless to only allow minimal payment if it goes wrong. We will find out Monday im hoping! As the landlord has given backing to help our company and are up to date with rent, so creditors should help too? There is more films coming just have to weather this storm.
I was in Sirius minerals, what a ride lol (6k loss)
They are in talks with main stakeholders and I’m sure a plan will be devised. They aren’t going to throw a perfectly churning cash cow away due to some bad situations caused with a bit of shoddy management ruin the fun. Many jobs at risk and there will be light on the situation soon enough. Whether a takeover or dilution I don’t believe it will liquidate. I could be wrong but I believe it can be saved from the last RNS, they are looking for solutions! Moody won’t throw in the towel he is a stubborn horse that will do what he can to salvage this.
As the source of information is unknown, we should still be hopeful, risk is my game and also my name. Risk assessment needs to be done to whether you have the wallet and stomach for this. As nothing has been confirmed by Cineworld I shall stand my ground . Good luck to you all
Ride or die time. I’m holding till the end 15k down :(
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https://www.ft.com/content/806732c5-0f90-4270-8571-6a28a376f445
James said there were signs that premiums across the market were rising to offset some of the inflationary pain. “You are starting to see the pricing move?.?.?. [but] certainly there is a lag,” she told the Financial Times.
As a result of the higher than expected inflation, the company’s combined operating ratio — a measure of claims and costs as a proportion of premiums — should be between 96 per cent and 98 per cent this year. That is worse than its 93-95 per cent target range, and the 90.1 per cent it delivered last year.
Direct Line said it would cancel the second half of its £100mn share buyback plan but added it was “confident in the sustainability of its regular dividends”.
The insurer’s shares fell 14 per cent in early trading, and are down more than a fifth over the past five days. Its FTSE 100 peer Admiral fell almost 10 per cent.
Month-to-month industry data suggested that used-car prices have peaked, James said. The company has launched a new pricing model and expects it will return to near a 95 per cent combined ratio next year, and to its 93-95 per cent range over the medium term.
“The thing that should make people confident is that we have built the pricing on those elevated car price levels into our current position?.?.?. which is how we are restoring margins,” said James.
Rival Sabre last week warned on profits because of “extraordinary inflationary pressures”, pushing shares across the sector down.
“Market conditions have clearly deteriorated over the course of [the second quarter] and even the largest players are struggling with the inflationary pressures,” said Derald Goh, an analyst at RBC Capital Markets.
Analysts at Jefferies said they see “further headwinds” to Direct Line’s capital under Solvency II rules, because of the combination of expected motor insurance growth and deteriorating profits, which could put the ordinary dividend at risk.
“We don’t see the ordinary dividend under threat,” James said. “We’re comfortable with the long-term dividend approach and that we’ve taken the actions we need to there.”
https://www.ft.com/content/806732c5-0f90-4270-8571-6a28a376f445
But I’m still holding on. I think it will come good. Cinema won’t go bust it will make profit like it always has done lots of money pumping in with current films, plus good line up next year should easily save Cineworld. Also the dollar very high atm and most the business is in USA which should help too.
I think it should fall further, been watching this and just spoke to my local postie (20+years service) to see what he said about the whole situation. Apparently they will potentially be going on strike soon over 2% pay rise and having to work Sundays extra now as it’s not keeping with inflation. Also they seem to be shafting shareholders with their antics he thinks.
Maybe they (mooky) keeping information close as they don’t want cineplex to build any defence against their strategy to close the court order in Cineworld’s favour.
The AGM meeting seemed good and gave me confidence from what information I have gathered as well as mountainous input as he actually attended the meeting.
What I can recommend is hold tight accumulate to lower averages, the next support level from here seems to be 19p, but I don’t think we shall drop any further than here now unless we get unfavourable news.
I’m punting another 5k at this price, no risk no rewards but agree can’t sell at this price it’s an opportunity for most of those who have faith in the company :)