If you would like to ask our webinar guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund a question please submit them here.
Just checked in to see people talking about AF23 ,
April Fools 2023.
Really didn't think anyone would take it seriously.
Wow , just in , Amazon have submitted a cash bid of over £11B for for the entire firm.
RNS Monday. ; )
I've been holding nearly 2yrs , never believed it would come to this, since the beginning of C11 I've continued to hold purely because its not worth selling. A couple of day I read the extract below which gives me the most hope I've had in a long time.
“Assuming that all this works out, this is going to be an excellent outcome,”said Robert Feinstein, a lawyer for the committee of unsecured creditors. The plan will likely put Cineworld in a “position to be competitive.”
That's from a lawyer representing unsecured creditors.
“Assuming that all this works out, this is going to be an excellent outcome,”said Robert Feinstein, a lawyer for the committee of unsecured creditors. The plan will likely put Cineworld in a “position to be competitive.”
Interesting that this line is from a lawyer of 'unsecured creditors '
I'm sure he knows more than anyone on this board (except wolf obviously) and seems hopeful .
Good point stanley, the fact cineworld are in C11 proves without doubt any award of synergies is unfounded , case dismissed.
So he did , thanks maid , I look forward to your next pointless post ,
"you do you " ; )
I'm still hopeful but realistically I now see this as a 7 for complete wipeout and 8/8.5 for significant dilution leaving us with less than 10%.
Sad but true : (
And maybe a drink
LTH,
Furthermore, any sale transaction for the Group as a whole would not include the sale of Cineworld itself and would therefore not be subject to the rules of the Takeover Code.
That sentence is from cineworld, this is not a takeover, cineworld will continue in some form (probably ROW)
Any bids are for "assets" which includes Regal , a very large part of the company
, hopefully these "assets " are worth enough to someone to clear or almost clear the debts leaving the remaining company to flourish, which us shareholders will have a stake in.
Any company expressing interest in cineworld are not buying shares , there will be no offer from vue, Disney, amazon or any other company for ?pence per share , not 10p , not 15p not 50p. Fact.
Well , I can't take anymore.
Sharebel end filtered.
The deadline for 'non binding bids' is 16th , we know for a fact there is at least 10 interested parties so far , Cineworld are expecting interest from upto 30 separate parties.
Highest price minimum of last 12 months which is a 10 bagger from here.
This rule definitely does not apply here.
Let's hope one of the "big boys" (amazon/Disney ect) are willing to stump up in excess of the 6.5B debt leaving something for the shareholders to add the world's 2nd biggest cinema chain to thier empires. As things stand with debt repayments the company expects to be turning a profit next year , if the "big boys"with deep pockets bought the lot cash they would have no debt repayments to contend with and potentially have thier investment back through profits in 3-5 years , maybe less. All profit from there.
Fingers crossed.
Maybe wrong but could the $398M payment relate to the rcf which was due , I never saw it I writing that Cine defaulted on it so can only assume was paid.
Hexham, agreed the DIP lenders will get the majority if not all thier money back in the event of C7 sale but as you say the other lenders will get nothing , which is why any plan put forward by Cine will be preferable to all other lenders which is why as Elvis said the majority of lenders will not allow this to go to C7. Extended repayment terms and better interest rates on existing debts is the only way the majority of lenders will ever see a penny.
In the event of C7 everyone loses (including us) , what saleable assets do Cine actually own , a few projectors and some dated popcorn , probably not even enough to cover the DIP. I think Elvis could be right , the creditors need to run with the plan submitted or lose the majority of thier investment.
Wolf.
Nobody is saying the company will be saved by merely renegotiating/surrendering leases the real savings will come from "other cost cutting measures " ie,negotiating with existing lenders , lower interest payments , credit provided over a longer term hence lower monthly payments , better advertising deals , deals with suppliers of concession items and much more.
Please feel free to once again point out the hopless situation Cineworld are in (yawn)