Member Info for Tegop

His average is 270p. You were holding since presumably june 2019. You're a Legend.

3rd Jan RNS.

To add to that,

The buyer's offer needs to be better than the D4E the lenders offered a week ago.

But buyers are not obliged to give shareholders anything. They just need to outbid each other, assuming more than one bid, if any.

50p is 800m cash out. I am not saying impossible, just unrealistic.

D4e will go ahead. Significant dilution to equity holders. Maybe wipeout.

The float is 1 billion shares and only 3% shorted. Short squeeze is out of the question.

@wellington thanks for the response.

Good to learn plex did not get a chair on the big boy table. Any positive offer can now go ahead without their input.

I am still curious why they did not settle for an upgrade to their debt seniority. Did they believe all 1.3b CAD will be enforced and paid by a company already 6B in debt? Are they that certain of a complete victory in the appeal and in the supreme court thereafter(hypothetical).

Was it plex or CP who enforced the stay? It was months ago so i cant recall.

2 more days before nonbinding offers emerge..

@Wellington

Does that mean PLEX cannot block the sale of The Group even if they are listed as unsecured lenders?

Plex has the biggest chair in the unsecured lender department. It will be hard to make them happy.

AFAIK, The judge and the lenders will decide.

Put simply, the offers will look like:

"We'll takeover the debt and give shareholders ?p per share in exchange for the Group's assets."

Not "we'll give 6-7B cash for CINEWORLD".

The appeal will come after C11 exit. Is there any higher court after this?

PLEX cannot enforce their claim until all legal channels are exhausted. They have a pending court appeal and plex will have to duke it out with whatever is left if 'CINEWORLD' after C11 exit.

If the plex claim is as good as cash, their SP will reflect it.

@Hexam thank you.

The debt free ROW on its own is worth more than the current market cap. If they were able to divest it, it will ensure Mooky's Family legacy-and the shares that come with it.

Sounds too good a move for the judge to allow. Unless an offer that makes the lenders whole is available to make everyone else happy.

Then there is the Plex case.

Have you been inside a Cinema? The ceiling is REALLY HIGH.

Jokes aside, the lenders have a ceiling. They can only be paid what they lent plus interest. Equity holders don't have a ceiling.

It's the opposite of a buyer's market if there are 10 interested parties and only one product to sell.

Cineworld has not initiated and does not intend to initiate a separate marketing process for the sale of any of its assets on an individual basis. Furthermore, any sale transaction for the Group as a whole would not include the sale of Cineworld itself and would therefore not be subject to the rules of the Takeover Code.

Does that mean CINE can sell the Group aka assets without triggering the Takeover Code? That means CINEWORLD as a company will continue to exist after selling the Group.

If so, that means CINEPLEX will have no direct access to the sold amount until the court case concludes.

That is very similar to the J&J loophole.

The D4E offer is already made. It can be 95%, 99% dilution or a 100% wipeout.

We are now waiting for a buyer that can offer better than any of these.

Hi Cineworld. Let me tell you about Goodwill. Or not google it.

Retail,Are you saying the prospective buyers will not have to cop out 6B plus in cash? They just have to takeover the debt and pay it down?

That will mean the offers will mostly be on terms of existing loans and what to give equity holders.

Those are wild goose speculations at best.

The only thing we have is the soft deadline on 16 feb, the fact that we have multiple interested parties, Vue is one of them, and CINE is not willing to sell the group in pieces.

The d4e is still on the table running in parallel if no buyer wants to take CINE out of the lenders hands.