Member Info for Tegop

Hope so. He was invested in AEC. Must be canadian.

There is someone in the subreddit saying he has insider info that there is an announcement tomorrow that will send the SP to zero. Any opinion?

Thanks @ Wolf.

Thank you Hexam for a very enlightening response.

I would like to point out an example for ROW to be extricated from the process. ROW is debt free and is not inside the C11 bracket.

If they are about to make a newco, say Ticker CNNWQ, the shares of this newco will own the assets inside the C11. But since ROW is not, it will be indebted to the new debt facility (dip lenders) with equity intact.

That is how I understood it at first. But this will require the creditors to let the entire thing fly over their head.

On that note, the judge assured unsecured creditors that he is there to make sure they do not get shafted by the secured lenders.

See the article I just posted.

https://celluloidjunkie.com/2023/02/22/cineworld-proposes-schedule-for-exiting-bankruptcy-through-reorganization-or-sale/

Flatout saying a wipeout is a certainty. Any comments?

The CINE lawyers represent CINEWORLD. Not mooky. If they secure a portion of the shares in the newco that our shares will convert to, he will be on the same boat as us.

The judge has a final say on who and how much anyone gets away with. It is all up in the air. Although not for long.

Lth here, myself included does not see us wiped out with absolute zero equity. As Amigo pointed out. The judge can as easily give us a small percentage of the newco if Mooky cannot.

But i do not rule it out.

I do not think they will liquidate. The current price of the assets may not add up to 6B but they do not need to come out with 6b Cash. Debt that is due may be restructured or changed to equity and those that are due in the longer term renegotiated.

CINE can pay with future cash flow, that is why they reviewed the lease agreements and closed underperforming sites.

Will the lenders take the helm from CINE? if they are so keen, why offer it to CP, AMC, and now VUE?

Will they make sure to leave zero equity to shareholders?

Lastly, the CP judgement, what could be the 'Offer'.
27 feb is scary.

That is what the negotiations are for. Both Cine and Lenders will present their C11 exit plan. They can be the same plan where both sides win. As Hexam pointed out, a 95% dilution on a debt free cineworld is still a profit from current price.

The judge also has a say if shareholders are about to shafted.

I think LTH like us are holding out hope that Mooky and CINE voluntarily entered C11 to prevent wipeout. Not cause it.

FT reiterates possibility of a wipeout.

We get confirmation that they tried to negotiate with AMC and fell through. recent rumors of VUE, and earlier rumors of Cineplex negotiations come to mind.

It looks like nobody wants Regal as it is, even after all the lease renegotiations.

https://www.ft.com/content/64f6c564-5fbb-4a8d-bef0-d96d873469c3

ROW had a balance transfer like you do on a credit card. The debt that it had is now packed into the DIP loan already provided for when this all started and under CINE.

"The lenders providing the DIP financing have also agreed to provide funding through the DIP financing for
the purchase by a newly incorporated Group company of the outstanding commitments under the Rest
of World facility. This debt transfer is expected to occur in the near term,
following which the newly incorporated Group company will be the sole lender under the Rest of World
facility. It is expected that the terms of the Rest of World facility will be further amended at such point."

From the looks of it, the ROW already has its own debt facility and is ready to be divested. It's just the US UK &I that needed sorting.

Second 7 day old account that knows the future. I am seeing the pattern.

@retail

Does that mean a D4E can only take equity from the assets under C11 and not CINEWORLD at a PLC level. These intricacies escape me.

They can have a slice of the ROW by converting the debt to CINE shares.

A large part of the DIP when cine entered C11 paid off any liabilities for ROW. I think c11 bankruptcy protection is not a legal remedy for those territories.

The company's books is basically an open book right now, but I know they are still legally obliged to provide earnings presentation mid march or april at the latest.

Mid march would put it right in between the D4E and the April 10 buy offers respectively.