Member Info for Tegop

Cineworld are insolvent, effectively bankruprt.

Can you tell me which RNS mentioned insolvent and bankrupt?

I did say BO Mojo. Not cine revenue but you can extrapolate how many tickets got sold.

As everyone was saying we are 68% 2019. Bur that was a 11B Box office year. 2021 was at 4.4B

2021 has 1.9b BO YTD
2022 has 5.16b BO YTD

2021 full year was 4.4B.

Safe to say they made more revenue?

They have exceeded 2021 revenue in 7 months of 2022 if you look up bo mojo.

Cine survived tuesday fine. No RNS of a rescue deal but no suspension of trading either.

We'll see if CINE continues to defy the expectations.

@jane i am in the same position as you. Although my losses are a bit bigger.

The market are pricing in full liquidation. Trading halt. Shares being worthless.

Anything else will be a rebound.

Was it a 500M bailout on2020?

This has always been my gripe. They do not look like they should be playing this card 1 month before earnings. They probably wanted plex to cave in on out of court. Sadly, winning the court case is inperative to plex's existence as well. Look at their forums.

Cine usually posts RNS at 7:00. Since it is 45 mins past that, there is likely no trading update today.

They could sell their lease contracts to the new owners. Cine is current on them according to epr
The lease obligations will disappear from the balance sheets. A lot of uninformed call them debts anyway. Cine gains enough money to live til november and december.

We are all basing these actions on the articles that suggested cine is on life support to bankrupt anyway. We might as well consider the rest of the contents. Also, mooky has to go.

@poorinvester

The selling of the sites will be on the orders of the lenders. Presumably so they will have cash. But selling the most profitable sites will be against their interest as well since it reduces cine's ability to pay afterwards. Under new terms, i presume.

Everyone, myself included assumes full liquidation of all cine assets at least in the US and then cancellation of all obligations resulting in a total equity wipeout. Plex will be included in the nuke. This is the worst case scenario and the market has priced it in leaving 3.2p for a chance of reversal.

What is your honest opinion on the chances of a lighter 'deleverageing transaction' where everyone is angry and worse off but not nuked?

I'm amazed some good discussions can occur at these wee hours. Aim and squid will be back at 9am tomorrow.

Since there is no RNS on either uk close or US close, it looks like the curtains are not closed yet.

See you degenerates here again tomorrow.

@poorinvestor

Why is closing sites not an option when two articles already mentioned they are closing site?

Three has vouchers for 3£ tickets. I reckon that is cheaper.

Source?

*polaris

Cine did this on their wednesday RNS.. the friday leak seems to be premeditated though.

I think will buy back at these prices to increase their holdings. They could set up a buy wall at 3p with what they sold on the 18th and come with 3-4x more shares

This was my reason for investing. I was thinking they could weather the drier, quieter months. They even said they had runway for 10 more months of lockdown and lenders are happy to negotiate. Mooky even said cine is on a good relationship with landlords.

But look at where the sp is right now.

It could be that cine failed the RCF covenant and are being asked to 'prune' some non performing sites like the articles notes. They may also be under pressure to resolve the plex case prior to earnings. Everyone has the court case as an existential problem due to the enormous damages involved.

It's like saying "Don't lose money on their casino. Lose them in ours."

Thanks for the offer.