Member Info for Tegop

Thank you for the effort Patience. Sadly, I will not put my name on the list for my own reasons. I hope you all good luck.

those At1 bonds had a 'worthless when default' in their fineprint.

@doom2 thar would stipulate 99.9% dilution. They said they will not offer anything. Nil. Zero. Nada.

I mean, they have a lien on ROW Assets, but only to the tune of 271M. ROW GRoup is still a non debtor entity. I think.

Hi shave,

Can you tell me what you think of Busby assignco, a new debtor which holds the ROW Loan?

Depends if they(plex) registered a claim as unsecured creditor. In that case, they will get as much as other unsecured creditors will, percentage wise.

The chances of someone swooping in and buying all the marbles is gone.

They also said they do not expect recovery even if ROW is sold.

You did the gambling part.

So did most of us.

A new holding company will be created and will issue shares worth 800. New shares will own all debtor assets. Claimants get some part of the equity/facility based on seniority from tier 1 to 8. Tier 8 gets nothing. We are tier 8.

There is no word about suspension on the docket.

Page 141 of the RSA Docket:

Issued Shares” means the issuance by the Issuer of New Common Stock for an
aggregate purchase price of $800 million.
“Issuer” means that certain new holding company formed for the purpose of
facilitating the Restructuring Transactions, issuing the New Common Stock and acceding to this
Agreement in accordance with its terms.
“Issuer Transfer Date” means the date on which the Issuer becomes the new
holding company of the Debtors (other than the Cineworld Parent) pursuant to the Implementation
Mechanisms as set forth in the Restructuring Support Agreement.

They will issue new shares that will own the assets.

Hi wolf, not your recent one.

I meant the parent sibling relationship where Liability spreads upwards the chain.

There is a status conference today.

Page 199. Mooky gets the boot

(s) Chief Executive Officer. The Company shall have appointed a new Chief
Executive Officer and such appointment shall be satisfactory to the Required Equity Capital
Raising Parties and the Required Consenting Creditors in their sole discretion.

@Retail22

Do not take my words as advise. They are my biased take on a legal document and I am not a lawyer.

That being said. There is another passage clearly separating ROW Group from the reorganised debtors. Page 70

(z) the Reorganized Debtors and the RoW Group (as defined in the
Sponsored Exit First Lien Facility Term Sheet), as of the
anticipated Plan Effective Date and before the Consummation,
shall have minimum unrestricted Cash of no less than the
projected ending unrestricted Cash balance with respect to the
Reorganized Debtors and the RoW Group for the week in which
the Plan Effective Date occurs per the approved DIP budget
submitted by the Company Parties to the Consenting Creditors
on March 23, 2023, inclusive of the professional fee escrow
account as set forth in the Plan, subject to a permitted negative
variance equal to 10% of such projected amount;

@Patience under the RSA. A Restructured Debtor, separate entity to CINEWORLD Parent will emerge post C11 with a new name and new shares. ROW Group is actually mentioned separately from either.

@Patience there will be an ancillary proceeding under UK court on what will happen to ROW assets. It's not included in the RSA since ROW is not a debtor aside from the ROW Facility.

Still. They used the no expected recovery language if ROW is sold.

@Wolf. CINEWORLD PLC is not a guarantor to Crown UK Holdco and in turn the C11 group.

ROW is non debtor to the C11 aside from thr ROW Facility.

If CINE was to stop trading, they would have said so in the RNS.

'On the Plan Effective Date, and solely to the extent the obligations under
the RoW Facility (as defined below) are not paid off, or otherwise
addressed in a manner satisfactory to the Required Equity Capital
Raising Parties and the Debtors,'

Also lookup UK restructuring plan and Ancillary proceeding

We need to sell row higher than 271M. I think.