Hello Wellington99,
"So they will job the whole Group (which I take to mean the businesses in CH11) around the market to see if someone will take the whole thing off their hands, which is possible but unlikely. The note about the Takeover Code etc means that the transaction would not be for Cineworld's current equity but for just the assets/ subsidiaries and so shareholders wouldn't get a say in the matter."
I don't see any benefits for Cineworld selling all the assets vs. part of the business (e.g. Regal or part of Regal) in order to improve the balance sheet and reduce debt to manageable levels. Also, I said this back in August that most likely the lenders are not interested in D4E for Cineworld in its existing form. Ch.11 is a tedious process and possibly, Mooky just wants to demonstrate that there are no decent offers for "the group" as a whole so nobody can offer a better recovery to the senior creditors. It's just part of the process. Make your own conclusions but on the investors forum we may focus on the outcomes for the shareholders and the sale of "the group" doesn't sound very attractive. Certainly, not as good as emerging from Ch.11 intact or even restructuring + partial sale of the US business. Mind you Cineworld only needs to get rid of very high interest loans NOT the entire debt at once then we should be able to manage the rest long term.
Also out @99. Such a good feeling after 86-94 shenanigans.
August & September were brutal - bad news after bad news but hopefully things will change in 2023. The SP moving decimals at the moment but ask yourself where would it end up on a positive RNS? On 1 November investors mulled Ch.11 progress and the SP hit 8.80p. Surely, 10, 15, 20p is possible, maybe even within one or two trading sessions. Why do we see 25-50k trades going through when someone could be massively in the red the next day? Because those decimals do not matter on the bigger scale. GLA in 2023!
"We was at £1.20 this time last year and that was a bargain . Will it be at 60p Dec 23 ??"
Maybe, and that will be a bargain!
off to cineworld this evening, not a regular cinemagoer but we can't let it fold.
they themselves are nearly bankrupt :D
yesterday I bought a small amount at 4.41 which was registered as "unknown", bid was 4.39 and ask 4.50. If your order is big, there has to be enough stock and if nobody's prepared to sell at 4.39 or buy at 4.50 the price remains static. If somebody has placed a sell order at 4.41 and yours is a "buy" at 4.41 then in theory, the deal could happen but in reality it doesn't all imv because there's nothing in it for a MM. If you're prepared to pay a bit more, say 4.42 or the seller decides to come down to 4.40 then there could be enough £s to take stock from one basket and put to the other, where the spread largely depends on your order size. Automatic trades inject liquidity but there were very few of those yesterday. It seems that only a small amount of shares is available right now which is good for a big rise on the news, there's a glimmer of hope that we can be back to 16-20p when CINE exits Ch.11.
A bull flag has formed on 4h/1d charts, it's time to announce the permit extensions. :)
is huge today due to low volume, 4.32 - 4.60. Would like to get some at 4.4 which is above the bid.
I don't think their clients are looking to get on board. We approached key resistance level (94.5) and with large shorts open, a breakout would've made their life miserable so JPM publish their note and next morning ftse was blue and RR was red.
£3 is quite pessimistic imv, the SP briefly touched 390p at the beginning of October, this could well be the low in current recession, especially when looking at other ftse stocks minima and you'll find most around late September, early October time. If the SP drifts further south in the coming months, 390p would be the level to watch.
sponsored by the shorters who got really worried after a 94.5 resistance test yesterday. Followed by a solid 93 finish and a blue day ahead - at this moment the JPM "note to clients" drops... yeah, right :D
Mooky is the only one fighting to save his & your investments here. Take him out of the equation and you'll get nothing of the Newco.
better than HBR? Maybe TLW is more risky but also slightly better upside here all imv.
From what I'm reading they're proposing to move up the general elections in Peru to 2024. Hardly any help in our situation with permits, it's a mess. HOC really needs to consider moving out of Peru by then.
one thing to take away from the document is that these lawyers charge enormous sums for sending emails and making calls on teams. Hopefully, it won't be wasted effort.
I have to disagree with the first comment, share buyback is much better than divi, especially around 52 week lows. This creates value at the time when inflation is high. For some it's painful to be in the red and you're desperate for some news which would relieve the downward pressure. But equally, it requires a lot of patience waiting for it to go down to 280-290 (some reckon as low as 250 may be possible) to take up an extremely attractive long position.
@Happy, there's a good chance TLW will be profitable but they need to increase production and have some success with exploration. It's all doom & gloom at the moment, our assets alone are worth more than the current mcap which is only 1/2 year revenue. It's an absolute bargain.#notAdvice
if you look at it as the slot to be filled - yes. Otherwise, no change.
@antonvb, I don't buy it, Richard has been there for 11 years and they're talking about a turnaround. Interim since April 2022 and the SP declined from 62 to 38 during his tenure as a CFO, hardly any success.