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CINE in US closed down -0.1165 (-4.90%) not looking good for tomorrow, and it's Friday.
https://finance.yahoo.com/quote/CNNWF/
No going bankrupt. Capital restructure, shareholders will be just massively diluted.
From yesterday's RNS quote:
Any deleveraging transaction will likely result in very significant dilution of existing equity interests in Cineworld.
We have matched and beaten US market yesterdays close!
https://finance.yahoo.com/quote/CNNWF?p=CNNWF
https://finance.yahoo.com/news/ftse-cineworld-blockbuster-films-debt-154006081.html
US closed +15 higher compared to UK... 0.1225-0.1075 (-46.74%)
https://finance.yahoo.com/quote/CNNWF/
https://finance.yahoo.com/news/ftse-cineworld-blockbuster-films-debt-154006081.html
In connection with these initiatives, the Group remains in active discussions with various stakeholders and is evaluating various strategic options to both obtain additional liquidity and potentially restructure its balance sheet through a comprehensive deleveraging transaction.
The Group's business operations are expected to remain unaffected by these efforts and Cineworld expects to continue to meet its ongoing business counterparty obligations. Cineworld continues to welcome guests to its cinemas across its global markets as normal, without disruption.
The auditors have subsequently raised certain accounting issues with management regarding the audit and these could have a material impact on the results for FY22 that have previously been communicated by the Group. In the event that material adjustments are required, the Group profitability for FY22 could be materially reduced across a number of potential adjustments including stock and bad debt provisioning and revenue recognition. Once these issues have been fully resolved and agreed between the auditors and management a further announcement will be made.
Just need or when Superdrug or Boots stores start selling these CBX products, then fireworks!
Very positive news! It's been long time, but very welcome development into the right path to IPO levels, 3-5x returns?
Short positions are closing! Short squeeze incoming!
Next RNS will be directors buys!
40% drop is overdone by a mile! this will bounce back to 200 at least!
Needs to hold 1.50 levels, if not then psychological levels of ~ 1.00 could be reached!
Today's news, just read between the lines 0.20 coming to your screens soon, next week !?
The Company can confirm that it has satisfied the exercise of the Conversion Rights through the issue of 151,260,080 ordinary shares of 0.1 pence each in the Company (‘Ordinary Shares’) at a price of 0.27 pence per Ordinary Share.
The Company remains confident about the finalisation of the legal documentation process for the refinancing of the outstanding bonds currently $4,150,000.
@@@@@ Refinancing of the outstanding bonds currently $4,150,000 @@@@@ The directors are criminals! VAST market cap is about 3.5m and refinancing of outstanding bonds at 4.1m !!! ???