Member Info for WolfofWarks

Elvis - this is not new information. The company have told us via rns that all the assets of the group are up for sale.

‘ In parallel with developing a Plan to restructure the Group's capital structure, the company will also run a marketing process in pursuit of a value maximizing transaction for the Group's assets, focused on proposals for the Group as a whole. It is expected that outreach to potential transaction counterparties will commence in January 2023 as Plan negotiations continue. Any actionable, value-maximising sale transaction emerging from buyer outreach is expected to run in parallel with the pursuit of confirmation of the proposed Plan.’

The key part here is in parallel.

They sign off the RNS with

‘As previously announced, it is expected that any restructuring or sale transaction agreed with stakeholders will result in a very significant dilution of existing equity interests in Cineworld and there is no guarantee of any recovery for holders of Cineworld's existing equity interests.’

So even with a sale there will most likely be dilution. I suspect once the sale goes ahead they will need to recapitalise the business and be able to issue new shares to start the rebuilding process.

So given what we have already been told I’m not sure what gem you think you have uncovered here. The court dockets and lawyer bills just give you this process in incremental steps.

I'm not too sure it would be in either party's interest to settle while the appeal is pending. In the US if the John Grisham novels I have read are correct this could rattle on for years.

Hertz were helped by the semi conductor shortage. A company that was on the seat of its **** and then suddenly its fleet of 500,00 used vehicles flew up in value overnight and make it a viable business.

I think with GGP it’s more to do with current economic situation and the undesirability of small growth shares at the moment.

Plus with the smaller portion of the venture there are at the whim of the major holder, their name escapes me.

One to hold for the long term I would say.

The only problem with Vue or AMC buying Cine is there’ll be problems with monopoly and competition bodies as they already have a strong presence and will probably have to shut some sites down I would expect.

Hi wellington - I still don’t think the CP claim will come
Into fruitsriom. If the D4E happens I’m expecting Newco with existing shareholders potentially being given a slice.

It would seem madness retaining the current company with such a claim lingering them.

Whether the judge will allow this to happen though is another matter.

Suppose that would depend on how he ranks the CP claim’s importance against the other unsecured creditors .

If I get a chance I might have a look later.

I’m waiting for tangible news rather than getting excited about a process being played out.

Re the offer. Like I said to you before unless you are a fly on the wall you can only gleam so much from summarises data on an invoice.

I think you’re over on some mad trip or dropped on your head as a child.

I haven’t made my mind up which :)

Yes I’m superman here to rescue you all.

If I was historically short here I would have closed in September.

However like virtually all other PIs I don’t have the facility to short, unless via CFD or spreadbet.

Both of which I’ve been burnt on in the past.

I don’t know what’s happened with the loan. I was simply putting a bit of meat around the bones as it was bought up and quite heavily discussed on here at that time.

It’s that big a deal or uncommon anyway.

Mooky’s family trusts have borrowed against their holding - there was an article from the FT around the start of C11.

Hi steward I see that as a possibility providing the lenders get repaid in full. Otherwise I doubt they are going to let Mooky walk off into sunset with his original business.

LTH - I’ve reread my post and it struck an unintended tone, for that I apologise.

That’s absolute nonsense. The whole point of deferring revenue is to match the income with the period to which it relates in order to determine the profit accurately.

They most likely brought forward deferred revenue from the prior month.

You’re referring to cash flow not profit.

I see Jim Chanos has opened a short on AMC.

The real question is how many new entrants has Sharabel played his part in getting spiked.

Wrong again Ian. Cineworld's assets are its stakes in its subsidiary companies. Which are easily separated and sold off. The only question is at what price.

An unsecured creditor none the less and is sitting in that class.

412 refers to them several times as an unsecured creditor.