Member Info for Tegop

Limited, as agent, and Kroll Trustee Services Limited, as security agent,
will be amended, or amended and restated, on terms satisfactory to the
Required Equity Capital Raising Parties and the Debtors, including
(without limitation) to (a) extend the maturity date until the Maturity
Date, (b) remove the liquidity covenant, (c) delete the various rights and
other provisions in favor of the DIP Finance Parties (as defined in the
documents governing the RoW Facility) (including any powers of
attorney granted in favor of the DIP Finance Parties), (d) provide for such
flexibilities and other modifications mutually agreed upon among the
Required Equity Capital Raising Parties, the Debtors, and the members
of the RoW Group, (e) provide for the resignation of the Cineworld
Parent as a guarantor, and (f) waive any events of default thereunder
arising as a result of the Restructuring Transactions contemplated by the
RSA.

@Retail22

I will leave this to you to digest,

'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, in connection with a Sale Transaction,
the Facilities Agreement, dated as of June 19, 2020 (as amended,
restated, supplemented, or otherwise modified prior to the Plan Effective
Date, the “RoW Facility”), among Crown NL Holdco B.V., Cinema City
Holdings B.V. (together with its subsidiaries, the “RoW Group”),
Cinema City Finance (2017) B.V., the guarantors party thereto, Busby
AssignCo, LLC, as the sole lender party thereto, Kroll Agency Services'

7.5% mip bonus. If they keep their job.

'It is expected that the Plan will provide sufficient flexibility to accommodate a sale of the RoW Business, assuming that the Marketing Process leads to a sale transaction supported by the Group Chapter 11 Companies and their stakeholders. As previously announced, it is not expected that any sale transaction would provide any recovery for holders of the Company's equity interests.,'

On the last bit, they explained we no longer own the group c11 companies aka uk, us and Jersey. Same language about post row sale though.

They will need to announce the ancillary proceedings on what will happen to ROW.

They should have mentioned suspending the shares in the RSA if that was the case. Although I have yet to read it in full.

Again, I am not sure this is what it meant. They actioned every interest. From class 1 to 8. But none of them mentioned equity in ROW. They only mentioned equity interest in 'Cineworld Parent' having no share in the NewCo which will now own all the debtors.

This boggles my mind and. It is already midnight.

Unless they meant they can remove our equity interest in ROW,

ROW only has DIP FACILITY as its only debt.

Unless our equity interest in all the assets even outside the C11 Debtors are forfeit. Which means wolf is right.

We lost equity to all the debtors in the case. That is a given but see this:
'
On the Plan Effective Date, and solely to the extent the obligations under
the RoW Facility (as defined below) are not paid off,'

Meaning if the offer is higher than the DIP Facility for ROW, we keep the excess.

If not, they restructure the loan to lengthen the maturity.
'
extend the maturity date until the Maturity
Date, (b) remove the liquidity covenant, (c) delete the various rights and
other provisions in favor of the DIP Finance Parties (as defined in the
documents governing the RoW Facility) (including any powers of
attorney granted in favor of the DIP Finance Parties), (d) provide for such
flexibilities and other modifications mutually agreed upon among the
Required Equity Capital Raising Parties, the Debtors, and the members
of the RoW Group, (e) provide for the resignation of the Cineworld
Parent as a guarantor, and (f) waive any events of default thereunder
arising as a result of the Restructuring Transactions ....'

Class 8 no recovery. ROW facility is interesting though.

Fwiw, there is another status conference hearing on monday. We will definitely get a proper update.

Af23 probably meant april fools 23.

Latest include Aeromexico 99.9% dilution. Latam Air 99.99% dilution.

Judge isgur is said to have given up to 4% to shareholders. We still do not know how much sway BOD and mooky has on the negotiations. We also do not know what will happen to the proceeds of the ROW sale.

If our shares convert to 1/100th of the newco, we are diluted 99%.

Interesting how they still want to sell ROW even if they will eventually own everything.

FT article said secured loans only account for 4B.

Rights offering could be shares of the Newco.
Or first lien on the expected 800M New liquidity.

That was yesterday. The RNS for the Plan was due yesterday. Unless there are more i's to dot and t's to cross than expected.

99% Dilution already qualifies with their 'very significant dilution warning. If cine is valued close to the 6b they will slice it within themselves, we are still up for doubling SP/Valuation.

I also have a thesis that Mooky entered this C11 procedure to extricate his 'Legacy' aka. ROW.

There are also other things that could happen like a partial restructure after gaining cash from selling ROW(This contradicts with the second possibility)

We were told the RSA was done and dusted by Wednesday. It is thursday and still no RNS. CINe Never fails to disappoint.

Axios did not comment. Deadline speculated. There is nothing in the last hearing about what really is included in the plan. No mention about what happens to shareholders

Axios did right not to comment.

You sound so desperate to spin this negatively.

I thought Sussberg said 6b was needed to cover the secured debtedness?

Ofc senior loans like the DIP will go first and will be made whole. .

That would be

500M+-
less 275M pre petition debt
less post petition debt from august til March

And then a new loan of 800M for liquidity if the previous rumours were true.