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Unless they request to re-book the 21 Feb court date, we will have solid news by next week.

500£ i mean

Not the best of the week. We had a 27k to 500k from 2018.

@wolf

Since mooky has yet to sell the shares, they either paid off the margin call, or otherwise convinced the bank the shares are worth more than the current price.

@juno

Lenders will have to be paid first. Based on seniority, then secured, unsecured, then shareholders. IIRC.

They want to sell the assets so the buyer wont have to contend with the pending court case, i presume.

This can go to 1.8p or 10p on a whiff of a rumour. You may need to reconsider your risk appetite.

"the Group" is the assets they are bidding for. This includes Regal in the US, Picturehouse and CINEWORLD in the UK, and Ireland, and ROW cinemas in Israel and Europe.

Sorry I misread.

If rumours are true, VUE is soliciting financing from a few other funds. I do not think AMC will have the same sway considering all the monkey business and mining activities they do with their money.

I would not classify AMC as having deep pockets.

It all boils down to asking if any big funds/companies find cinema investable and is it worth taking the 2nd biggest movie company while it is in distress.

https://celluloidjunkie.com/2023/02/11/cineworld-negotiating-bankruptcy-reorganization-with-lenders-while-also-pursing-sale/

21 feb is a better deadline. That is the hearing where they will present to the judge how they will exit C11.

"city sources" from sky news.

There will probably be no RNS tomorrow. So no news unless there is a leak.

That is correct. The 3rd jan RNS specifically mentioned this is not a takeover. CINE is merely selling "the group" assets to increase liquidity.

The estimates are just approximation of the excess in the offers in relation to equity holdings.

That would be around 90% dilution on the current SP?

As the 3rd January RNS stated, the takeover code does not apply.

They merely need to outbid everyone else. It can be 0p or 0.01p

3rd Jan RNS said they will move forward with the deleveraging transaction(D4E) in parallel with the buyer bids.

Two weeks ago, the Lender group provided their D4E plan to the legal team. This can be 95% dilution, 99% dilution, or wipeout. This has been discussed on this board since August/sept.

16 Feb is the non binding buy offers deadline. If they do not impress better than D4E, it makes sense that D4E will go forward.

There is already a minimum bid requirement -the D4E. Anyone making a lesser offer will waste their Purchase and Acquisition department's time.

Imagine forgetting you have 27k worth of shares bought in 2019 through a pandemic and remembering only after it is down to 500£.

Not buying it unless you were in a coma.