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Docket 1610. Page 61.
Under English law, a public limited company, such as the Cineworld Parent, cannot cancel its
existing equity interests and issue new shares of a company to creditors solely through a chapter 11 case.
As such, full implementation of the restructuring contemplated in the Plan will require additional steps to
be taken in England and Wales through one or more Implementation Mechanisms. The Debtorsâ decision
regarding the Implementation Mechanisms will be reflected in the Restructuring Transactions
Memorandum and the Plan Supplement. Implementation of the Restructuring Transactions (including the
completion of the Implementation Mechanisms in England and Wales) is a condition precedent to the
Effective Date of the Plan.
JohnNth,
I am flabbergasted on how the humour escaped you. No one in this forum follows my ramblings(except for you) and I have repeatedly mentioned I do not intend to convince anyone or tell anyone what to do. I do not presume to be right or to know everything.
I would repeat that I merely answered Wolf's query on why I still hold, and even averaged down. Those comments are not for your pleasure. Have a pleasant Sunday.
@Wolf,
We honestly do not know what the UK Restructuring Plan contains, other than they cannot cancel existing shares through US based C11. I presumed Newco will obtain the Cineworld brand(IP) and will want the CINE ticker even if they are will not be publicly traded upon emergence.
Here is what google says about rubbing your eyes:
Rubbing your eyes can mean many things. You might have an eye infection, allergies, or another health condition. Eye rubbing might also be a reflex or habit. You should avoid rubbing your eyes because you can damage them if you rub too hard or too often
@johnnth
We call them biscuits in this BB.
General Motors comes to mind.
I blame those mushrooms.
They never said they will cancel the current shares. Yet.
Mikodx, careful there you may get accused of hallucinating.
Reorganized Cineworld will be Private until IPO in the far/near future.
"What are you expecting these documents to tell you that we don't already know?"
I don't know what i don't know. And i will not presume to know everything.
The UK plan will be a formality, but will also bring us specifics. Context is king.
For reference 40p puts 520M market Cap. Current market cap is 12M.
They changed language from Significant Dilution to No recovery back in september-october. You can lookup the RNS.
That could be a voting sheet for direct investors. My shares are through AJbell and T212 so I do not have direct control of voting. Shareholders cannot vote anyway. Did you get anything interesting?
I do not think anyone echoes my opinions. You'd have better luck with the discord group.
There are still a lot of documents we are not privy to. The Audited earnings from all year 2022 to q1 2023, Restructuring transaction Memorandum or the UK restructuring Plan. They will be revealed by June 12.
Wolf was polite enough to ask, and told me i did not have to disclose my entire hypothesis. You were merely eavesdropping and throwing insults on the side.
Your comments are neither helpful nor productive.
Ummm writer strike?
There was a General Meeting and the AGM usually happens march or april
Share purchase agreement. Annual General Meeting.
@wolf
I will take a pass on that. Thank you for your time. I am either right, or wrong. 50/50 (get it?). That does not change anything for you so I will not say further.
I thought MOOKS will do a SPA on the AGM but that mini-uprising by Non-RSA lenders threw a wrench on the timeline. The RSA said everything will trigger on the plan effective date, and the UK implementation Mechanism NEEDS to happen before that date. 8 June it is.
Let's just grab a popcorn and enjoy the show.
Hi wolf,
Let's settle this with my investment case being paper thin.You say lenders will take 100% of everything while I say the DIP AND RSA leave room for an alternative.
I never intended to convince you or anyone else of anything so I will not push further. You could say I have just as much chance as the Letters from discord. Good luck with your investments.
'Sounds like something out of the Indiana Jones movie!'
Wait til you hear what Cineworld shows in one of those theatres!
Coincidentally, Busby is a Movie from 2019.
Hi JohnNth,
Sorry if I triggered you. You already confirmed it is possibile and it has happened before. Maybe you are right and it wont happen to CINE.
There. Done. Go on your merry way discussing investments you do zero research in and advising people what to do with their money.