Member Info for WolfofWarks

Waffen - The expenses are a bit ropey.

However sales and cost of sales give a good indication of how the operations are fairing trading wise.

They are bits that really need to kick on sharpish.

' If that was the case, that would mean any company during a financial crisis can say, okay we are struggling to pay our debts so what we'll do is print new shares, cancel the old ones, and continue trading under the same name. '

Bingo, you've got it at last MIK. This is exactly what happens. The company continues, employees jobs are saved but existing shareholders pay the price, This happens every day of the week.

Tegop - GM shareholders got wiped out. Although that's probably about the most extreme example of a C11 you can find, which was basically government imposed at the height of the banking crisis fallout.

Is reminds me of Elvis's infamous NOLs.

Mik - they are wiping out the shareholders mate

They are thriving off HNW and corporates.

Us retail investors just get plonked on the platforms.

IG charge you quite heavily for telephone services.

Do people actually speak to brokers now?

What’s the point when it’s all online?

PP I was under the impression that the large companies have enough liquidity in the trading of their shares that they don’t need liquidity.

I’ve read lots of MF content over the years.

It’s dross.

I’ve told you before PP quality sources.

MF is written for folks like yourself.

It’s the investing equivalent of watching Britain’s got talent.

I can't believe people use motley fool as a source of information.

'The challenge is that NA stop at the moment a final restructure. Evraz did restructure 4 companies back to russian parent ownership. So they preparing'

This couldn't have been recenty under sanctions. I'm pretty sure the company would have had to advise shareholders, but also it would be unlikely they could sell the assets out of the share or do anything with any of the assets while under sanctions.

The cannot be more buys than sells, it's a nonsense. A shorter might sell a share multiple times but for each transaction there has to be a willing buyer. There also has to be shares available and a willing lender. Each company has a finite number of shares in circulation.

Shares are not created out of thin air. Every share this is bought is sold and vice versa. The differentiator is someone is prepared to but and sell for.

'A shame the letter did not reference the loan with Sandgrove Capital Management. Mooky used his ~200m shares as collateral for a $200m credit facility, which I am sure Sandgrove then used a Credit Swap facility to hedge the risk of Cineworld defaulting. Sandgrove even had a disclosed short position of 1% or 13m shares they used to short the company. How this was permissible is not entirely clear for me as it certainly allowed collusion to push the share price down. '

It's completely permissible as we have a free open market. The loans above relating to the family trusts have absolutely nothing to do with the C11. Mooky and go are perfectly entitled to borrow against assets they own. It's perfectly normal in any kind of financing to put up collateral against borrowing. It's also completely normal for a hedgefund to hedge their position with an opposing short - it's how they manage their risk against the very thing that is happening.

It might even be a different part of Sandgrove shorting Cineworld relating for one of their clients and could be completely unrelated.

I'm not too sure how any of this could bear any relevance to the C11 so sway any influence with the judge.

'Restructuring transaction Memorandum or the UK restructuring Plan'

Tegop - What are you expecting these documents to tell you that we don't already know?

The UK plan will be a formality I expect to bring the C11 proceedings into UK law.

That should read IG not AJ - had a very long day.

Tegop - I'm with AJ and they send me an email to vote when required by proxy. All online with no form filling required.

'What about returns on capital as we experienced one of last year?'

All glencore dividends are returns of capital rather than actual dividends.

I want to see if this breaks the previous lows of the late 32's. I assume the UK base rate is going up a qtr today.

Anything that involves pumping out cheap product in large volume is going to have reduced margin.

I’m always dubious of companies that rely heavily upon on reporting adjusted margin or profit rather than conventional methods, especially when their business should be relatively simple.

Three hasn’t been an agm mate