Member Info for Tegop

@Hexam,

Meaning ROW is worth more in their hands than in CVC/Elliott's offer. Ad hoc lenders wanted ROW more than the two hedge funds. 271m or any multiple if it is a fraction of CVC/Elliott AUM.

I agree with wolf except for the ROW. I cannot believe 2 large hedge funds will not offer sufficient money (~271M) to buy ROW.

ROW was not for sale from the beginning.

@stanley

SP that day was ~60p
CINE hired Alixpartners who are specialists at maximizing value for their clients. Project Busby is what they called it. No insider has sold since 2020.

I did. I did top up again at .99p yesterday.

I will not be staying in this board if i was uninvested or disinterested.

I hope you are not wasting your time trying to be a saviour.

@stanley

https://www.google.com/amp/s/www.consultancy.uk/news/amp/25966/cinema-chain-cineworld-calls-in-alixpartners-and-pjt-partners

The plan and negotiations did not start 2022.

They are assigning restructuring manager now from alixpartners. They also added the newspaper publication to call claims.

Looks like they are just dotting the i's. I will not be surprised if a summary judgement is requested.

I am now imagining mooky as a nigerian prince. Thanks for the mental picture.

@Cloudy,

Assuming you are person 1, you confirm you give financial advise to people on a stock you only do superficial dd on? While you yourself are uninvested?

Person 2 will have a different kind of post history as person 1 as he will have more in common than shareholders. You can see both kinds in their posts and post histories.

There is already an estimate of what will be recovered if C7 happens. The entire point of C11 is to maximize recovery.

The bb is getting duller with posts of anger, ignorance, and ad hominem attacks.

They are legally required to scan and upload every letter and consider any legal challenges. They do not mean the letters will have any modicum of success.

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 Debtors’ 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.

@Brownian

New Common Stock will be created and CINE share owners will own no part of it. This is different with the usual 'significant dilution' where they print multiples of the shares which was commonly used for D4E.

Share will be suspended by FCA if it no longer complies with tradable share criterion. A lot of shares keep their 'share price' but cannot be traded. See MCLS.

Delisting is a different thing and will be voluntary or involuntary. There will be Ancillary proceedings under UK law to deal with the floating cineworld parent share capital.

Fat lady is almost done warming up.

@Juno,

The money will be better invested somewhere else at this point. There is little chance retail shareholder lawyers will do better than the adhoc lender's lawyers.

@Wolf,
What aare the chances CINE will now ask for summary judgement and skip on the 8 Jun deadline now that 99% of lenders are on board the current plan?

It should be under NDA. All we know is no full cash buy offer for WholeCo. Sussberg said they needed 6B.

We also do not know how much Elliot and CVC offered for ROW. All we know is ad hoc lenders said it is not enough.

Hello patience,

I was wondering what you have been up to.

Can you provide with a link as soon as it is up?

There is a hearing happening today.

Last day for creditors to submit their votes for the plan is 8 Jun. Cine expect to exit bankruptcy before h2/q3.

Shareholders get shafted on bankruptcy proceedings everyday. It is part of the risk reward-ratio when buying equity. Equity has higher risk but also higher rewards. Bonds have fixed rewards but lower risk. Some bonds have higher risk but proportionately higher rewards, still not as high as equity.

One example is the convertible bond of BNY Mellon's convertible bonds.

Docket 1600.