Member Info for Tegop

Did Vue shareholders get wiped out without declaring bankruptcy or a shareholder vote? I do not see them exiting without a fight.

CINE will forward the Plan on 27 Feb. Based in their wording, D4E with wipeout.

I am prepared to hear the judge tell them to sell the assets independently and include the ROW in the 'for sale' group. Let's see if AJ Bell is right.

Read the celluloid junkie article on what the judge told Sussberg(Cine) and the Unsecured creditors lawyers.

They will tell us what they will do. They will not tell us what 'we' will do. The judge has a hand on the final decision and will try to get something for the unsecured creditor. He did not do the same for Shareholders, who are further down the line.

Technically, somebody sold you 400k shares.

Depends if they want to take the golden goose on their own

“Is the end in sight for Cineworld as a listed business?” asked Russ Mould, the investment director at the analysts AJ Bell. “We could see a break-up of the group even though Cineworld has previously said it had no plans to sell individual assets.

https://www.google.com/amp/s/amp.theguardian.com/business/2023/feb/24/cineworld-shares-plunge

I still do not understand why they did not liquidate last august / september if there is nothing else on the table. It is obvious that CINE is still trying to save something but they do not promise anything.

Suspension rumours have existed since August last year.

I remember a statement mentioning that CINE will be trading throughout the entire C11 proceeding. But I could be wrong.

The amount of noise is deafening. This will get lost in the void.

Are the statements lawyerspeak so they do not get sued? Is cine just being wily so they can suppress the sp while they accumulate more shares for the D4E offer that only they know? Is this a flat warning to sell shares as they are worthless now, or just woth less?

I hope legit discussions do not get lost in the crowd.

There is a court appointment on 27 Feb. CINE will lay out the Plan which contains the D4E. There is limited time to swing trade.

@hexam, they need to sort this out by july the latest.

Sadly, the same leaker said delisting will happen in 1 or 2 weeks. He has been right once.

@wolf, that would just be a zombie site. Wouldn't closing them and renegotiating the contracts to account for the closed sites be better?

@Hexam, you wrote 100k. Sorry i got confused.

Losing 100m a month means cine bled a lot in 2022. They mentioned Jan 2023 as higher than expected, but they never mentioned being profitable either.

I remember the DIP money is pegged to run out in July or August.

It looks like ian has run out of excuses and bailed. Monday is not too long to wait.

@hexam Revenue means nothing if a site is unprofitable. It has negative effect on cash flow and margins. Therefore, better off closed.

100K loss does not sound too high to cause a worry. We entered the quiet months again and we still have reduced movie count. A surprise hit can swing it wildly.

The fact that ROW is not included in their presentation is the more intriguing part. As it gives credence to the theory that ROW will be extricated with the current DIP lenders (senior lenders)as new debt facility.

The SP did not drop to 0p. There is someone gathering the shares and hope shareholders do not get shafted 100%.

Do we have an estimate of how much they are losing each month?

They 'said' they had 189M cash in hand after January but i have no hard data to back it up. Also, how are the newly closed sites and renegotiated leases affecting the cash flow.

if there is no light in the end of the tunnel, why did they not declare C7 and cut lawyer costs. Otherwise , this is just a long winded liquidation process.

Cine have broken covenants and needs to either restructure the debt, or sell assets to pay the debts outright. Or any combination of both.

Unless the Adhoc lenders agree to let cine continue with their current structure and pay back a restructured debt, they are within their right to cancel debt in exchange to owning the company. How much of the company is based on a lot of questions, one of which is cine's profitability/cash flow.

To add to this, they said if any part of the assets were to be sold off, the monies will be used to pay of debts, not go to equity holders.

The 40 buy offers is a myth. They made calls and asked around who is interested in buying any assets. 40 said yes, but none offered cash and none offered enough to buy out the secured debt.

It looks like an insider really leaked info to a redditor. One thing they did not get right is the price going to zero.

This RNS seems like a confirmation of what was known from the hearing, and a glimpse of what us happening behind closed doors.

It looks like there is no guarantee of recovery, weirdly, wipeout as a word was not mentioned, and negotiations are still ongoing. but that is why the price is 3p.

27 Feb announcement will be final offer from CINE'S Group.

Who else sold at today's bottom?