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@Dean best we can do is wait. The RSA and plan said they will spare share capital of cineworld parent(CINE Shares) And Cineworld Funding.
Final hearing is today 3pm central time, 9pm UK time.
I am not confident on any other court overruling the decisions to be made today.
Can you link us to the source of the notification?
I think similar to the objections of the late creditors in the dockets, it is too late to make objections once the effective date has occurred.
That's the court officially informing the claimants of their cure amounts.
Shares will show value unless share is cancelled. It does not cease to exist when delisted.
That company will be a newco that will own the debtors and all the collateral.
Our shares will have no claim on it.
@dean36
I suggest you read docket 52, 722 , 1470 and the latest plan suplements. It's less than a week before the game of musical chair ends.
@Hexam they were the thorn that kept CINE from refinancing IIRC. Mooky literally rather declared bankruptcy than face Plex again in court.
A new 4th Ammended plan suplement is out. It has New Cineworld Limited as the company and the date is 31 July.
@Hexam
Do we know how much Plex will get from the GUC pool?
@Mr. Kioto,
The reason it is called MidCo is that the LLC is a placeholder. They could as well incorporate NewCo / New Cineworld Limited in US and transfer the assets there anytime.
AMC will keep on being almost profitable until it can't keep the hype going any longer. Meanwhile giving the execs massive bonuses in both shares and cash.
It can take years but once the meme dies it will get valued based on fundamentals.
Yeah this looks like the US Side of things but it explains well how debt will be released and assets changed hands.
I do not think this needs judge approval as the plan itself has been approved on 29 Jun.
Does this mean CINE will cease to trade at market open like they said in the RNS?
We might as well paste the entire thing here. The document mentioned suspension but not delisting.
Step 10. After Step 9, Crown UK issues four fully paid-up shares of Crown UK to Reorganized
Cineworld Parent in consideration for the payment by Reorganized Cineworld Parent to
Crown UK of all the Cash received in Step 9.
CINE has 28 Jul as date of emergence in their Cleansing documents. I know that is tentative but that gives 5 more trading days before the end.
@hexam
The debt burden really shows in the monthly report. Do we know how much we will be ahead/behind if we are not paying the exhorbitant legal fees?
50% dilution would have been godsend compared to the 99% losses we have today.