Member Info for StanleyPro

Took some at 235, will buy more if it drops to 225. A these levels worth a punt, imv.

@Lee72 the lenders are most interested in CINE shares becoming worthless before Ch.11 exit because then even if the judge decides that the shareholders should get something there would be no value left so the lenders wouldn't have to contribute anything. Just assume for a moment that the shareholders are owed 50m at the end of the restructuring process, the decision that comes out of the blue but the mcap was just 10 million... so instead of paying 7 or 10p per share the lenders could scoop up as many shares as they can at 1p to manage that risk.

It depends which one of the 3 outcomes it will be. From what I'm reading nothing has changed since the last update, i.e. 75% chance that MEIA will be approved and will include new mining areas. ~20% chance that MEIA is turned down but HOC may be able to correct something by the end of the year and 5% that MEIA is rejected with major issues and then Inmaculada will be placed on long term maintenance (at least up to 2026). The odds are heavily in favour of the permit, all imv.

@doctordong

By the end of the day it had cratered more than 10%.

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So much salt... not getting your 20p entry, huh? And 22p could be also gone now.

They are amateurs in the subject and more interested in cinema industry than cineworld and probably have never read any dockets unlike people on this board.

@BlueBuxton, the shareholder plan will only work and make sense if the difference between the highest bid and expectations is not too big. Bids can also increase in certain circumstances, for example with clear ownership structure and whether or not they can keep the plc. (mind you rebranding is also costly). So if the bid was 300m and they want 500m then there could be a solution but if the lenders want 3bn and the highest bid was only 300m then the plan won't work.

@BlueBuxton, the judge is not the right person to decide on alternative plans & options, he will only deal with the official plan submitted by cineworld. If the lenders were intending to keep "RoW" nothing will make them sell unless the price will match their expectations but they won't tell us what their expectations are. If they simply wanted to recover their "losses" asap then why not announce: "we want 500m for RoW" or whatever their figure is.

It would be a game changer if we can keep a small part of the restructured business under new ownership, you can always expand, attract investors, lease and open new cinemas etc.

It seems that Mooky & Co. are satisfied with the lender's solution and are not interested in keeping cineworld plc. I wrote an email to cineworld about 3-4 weeks ago regarding the "RoW" shareholder plan which in principle ticks all the boxes for the lenders and offers to buy RoW from the lenders via the combination of the highest bidder & equity raise. This would also allow to unlock the value of the current shares which benefits the current shareholders. The plan is sound imv but they're not interested because the current BoD would no longer be in control.

How did we go from a buy back to rights issue in less than an hour? There's no need to reinvent a bicycle - market wants debt reduction so the BoD needs to focus on how to spend and invest wisely to facilitate a bigger repayment by the end of the year.

"in cahoots" bit is funny :D Mooky would be like daayyuum, it was such a nice plot, excuse me, Plan.

Yes, extremely painful and something has to be done to break the current downtrend. The board has been ignoring the stock price issue for a long time, saying that they have the situation under control in a long term. We're not getting closer to a divi which can send the SP up. Our current CFO was in McDade's team were it all went out of control and the company nearly collapsed.

There has been no evidence of "working on the debt" as they're prioritising developments in Gabon and their Jubilee plan. They should buy back some bonds to get the SP protected from lower oil prices, otherwise, Tullow would have to pay interest on those bonds and if oil would plummet to 50$/bbl they won't be able to make up the losses elsewhere. Rahul said during the last update that the oil price can shift their focus but the market doesn't like his strategy. Maybe the SP would be close to £1 if most effort went into repaying debt when the oil price was high (100$) and investing into production, drilling activities and acquisitions when the oi price is low (30$).

Not surprising given the stock performance. Lost 50% since last AGM.

"Reduced UK activity in certain areas due to the EPL, including partner cancelled programmes at Elgin Franklin and Beryl and rephasing of certain decommissioning activities"

This is disappointing but understandable if the projects do not make sense economically. I see the SP drifting lower, maybe 215-220 range.

Usual crap from cineworld, would've been much better to get a trading update

Wolf, you're wrong with every one of your assumptions so I'm not going to argue anymore. Just because nobody has bought Cineworld (yet) on the proposed terms doesn't mean the business is worthless. Every cinema chain is in a tight financial situation after covid. They wanted all cash offer for the group as a whole which was simply unrealistic.
AMC cannot afford such deals, they would end up in Ch.11 themselves... The lenders knew that there won't be any serious interest and that's why Joshua Sussberg was so enthusiastic whilst reporting that no bids came anywhere close to $6bn figure. Then Cineworld announced they're not considering RoW in the sale... let's be honest, they've never made the process clear for any potential buyer. What is there to bid for? For the group with the litigation and huge debt pile? If I had 6bn I wouldn't deal with them no matter how good their business is. With this approach, cineworld would fail at selling gold at half price!

Wolf, until the Plan is approved the lenders are not officially in charge of the company and cannot use company's money in their own interest. The BoD got us into this mess but that's ridiculous to assume that just because you're first in line and lent 1/16th piece of a pie during the pandemic, (and collected interest up to date), now they are claiming 1/4 of the pie back with the help of lawyers paid from company's revenues. On paper, Cineworld is worth more than the total debt. If you disagree - email Mr. Cohen because he has put those figures on numerous reports.

@Tegop, that was a rhetorical question, those lawyers are a complete waste of space. Since September, they consumed ~5p per share (which equates to £50m+ wasted by drafting Alex's partner and the lot). Of course those are essential to the lenders but they should use their own money and lawyers to push through their plan, not cineworld's revenue.

who is Alex's partner?

@Metom, don't play into the hands of Cineworld lenders. I'd rather prefer it to keep going up and down. The fundamentals are not important, some people buy Doge or some **** without any material backup.