Member Info for RS2002

Yuri is always the best buy signal. I expect him to pop over to CINE soon.

Hammerson report their property portfolio is worth:

- £5.2bn gross
- LTV is 37% so they hold 63% equity = £3.2bn
- Net Debt is £1.2bn
- NAV (£3.2bn - £1.2bn) £2bn
- Shares in issue 4606m
(2000/4606)

Suggests we should see the share price at 43p minimum.

Happy to be corrected?

Great comment. Very encouraging when you consider positive concession and passive income for advertising will be coming in there too. If Mooky can reveal that the negotiations with landlords was fruitful too the market will be very pleased with the progress update. It will just leave the Cineplex arbitration to update on and this share price has every means to recover significantly. The ducks are lining up, slowly but surely.

If all goes well towards the end of this year, the share price should naturally recover at which point a bonus scheme comes into play where 1-4% of dilution of shares is enacted.

With a market cap of under $300m, as long as Cine are servicing debt, there is no logic in diluting at this share price. Once the US listing is done next year, we can expect some solution and funds from that placing which should be recouped relatively quickly if a larger II and PI community are welcome to buy Cineworld stock.

The optics of buying cheap stock inside whilst navigating arbitration would not sit well with the market or cineplex.

The fact is insiders remain to hold and institutional investors maintain their positions. Shorts are starting to close.

LTH should not waste their time squabbling with trolls and day traders. It is likely you are discussing with one who uses a bullish username and a bearish username but is the same bottom feeder behind both accounts.

The new site looks good. Many don’t appreciate just how much councils love multiplexes. They drive footfall to ancillary spend such as retail shops, restaurants and cafes. This ultimately services jobs and revenue for the said council. Cinemas aren’t going anywhere and Cineworld have negotiated with their principal landlord in the US, EPR very well from what Mooky has suggested. Allegedly, Regal are EPR properties top client. You see when a cinema pulls out it can have a domino effect on other clients who rent from the mall or retail park. Hence, it is in the interest of councils and landlords to maintain their relationship with cinemas. For this reason I believe when we see the Q2 results, it will reflect the relief and margins will show those cost savings.

“Among U.S. real estate investment trusts, EPR Properties has high exposure to Regal, deriving 16.7% of its total base rent from the theater chain. RPT Realty and Realty Income Corp. also have relatively high exposure; Regal leases account for 3.0% and 2.9%, respectively, of the companies' total base rent.”

Source: https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/regal-theater-closures-present-a-very-serious-problem-for-retail-landlords-60683188

As expected, they are covering dribs and drabs.

This now puts, Whitebox Advisors LLC as the largest short holding by a fund on Cineworld. It will be interesting if their Chief Investment Officer, Robert Vogel gets a team brief going to look at reducing their risk exposure, too by closing some shorts.

Great post, Mountainous.

The first of debt maturity is $200m due May 2024.

Plenty of time to:

1. Get the cineplex appeal done or agree an out of court settlement
2. See through the recovery of the box office which for 2023/2024 is expected to surpass 2019 which will assist in paying this, considering 2019 saw profit of $200m which was paid out as part of the dividend

Good grief. A retail investor SPREAD BETTING who has convinced himself he is on par with an institution who needs to PURCHASE ~30m shares. Take a bow, sir.

Paper profit.

They have to cover the shorts and acquire when the current volume is 2-3m a day.

Many are content to set up camp and wait this out.

Clearly a tribute to Chadwick Boseman. I believe this will get to a billion dollars in November. It should garner the same hype as Spiderman No Way Home did last year. This contributes to Q4 to be very lucrative ahead of Avatar 2.

Source: https://youtu.be/RlOB3UALvrQ

Good find, Tegop.

As expected, they will want to cover prior to a highly likely positive Q2.

This could easily be short squeeze territory if some positive news lands prior.

1. June has revealed that box office takings were 85% YoY to 2019
2. The classic is playing for a limited time with a single 2000 BST showing time on 02/08 from what I can see to mark the anniversary.

A great initiative to encourage cinephiles new and old.

BHA, what is your take on the convertible bond and when it is executed?

Only for a limited time but great to see some classics return to the big screen. Would be great for Cineworld to look at this for more movies from the 80s-00s.

Source: https://www.cineworld.co.uk/films/robocop-the-directors-cut-35th-anniversary-4k/ho00008854

More disruption and noise.

Shaz, I may be wrong but you’re coming across awfully like a collaborator with Ocean. Is this some tag team to distract meaningful conversation?

Can you ignore it or take it on another forum if you wish to indulge in such antics?

Please correct me if I am wrong but I don’t believe they have been executed yet. The shares in issue remain 1.37bn.

The conversion rate is expected at 146p now given the weaken pound against the dollar.

“The Convertible Bonds will carry a coupon of 7.50 per cent. per annum and will ultimately be convertible into ordinary shares in the Company (“Ordinary Shares”). The initial conversion price is expected to be set at $1.7620 per share (which equates to £1.2850 per share based on a Bloomberg USD:GBP FX rate of 0.7293) representing a premium of 25 per cent. above the closing price of an Ordinary Share on 24 March 2021.”

Source: https://www.cineworldplc.com/sites/cineworld-plc/files/agm-and-gm/2021/Shareholder-Circular-and-Notice-of-General-Meeting.pdf

I can sympathise with some; there was a Walter Mitty posing as a one person company (opc) fund the other day issuing a broker rating. Sheer desperation as you say.

Stating the obvious, New Holland Capital are not the only ones requiring shares.

Enhalus Capital, LP
Highbridge Capital Management LLC
K2 & Associates Investment Management Inc
TFG Asset Management UK LLP
Whitebox Advisors LLC

There could be plenty more too when you consider that only those with a position above 0.5% are listed.

There could be a number of other funds with positions below the 0.5% threshold who too will have to compete to get a hold of enough shares.