Member Info for WolfofWarks

Much better to stir up false hope eh. Especially off the back of a quick google of what a capital structure is.

Did make me chuckle to be fair.

This is a telling line in the docket:

‘An extension of the Exclusivity Periods would continue to give the Debtors the “breathing spell” necessary to facilitate negotiations with stakeholders on remaining issues and maximize the value of the Debtors’ businesses and creditor recoveries.’

There is no mention of shareholders here whatsoever. The focus is purely on maximising the recovery for the lenders.

The need for EV materials isn’t going anywhere.

The prices on some of these materials has got frothy I would suggest.

So a correction happening. Definitely a buying opportunity for new ISA and pension allowance.

They must pay the interest and finance costs from a central point and then spread it across the group.

The figures at times are terrible lumpy. The missing rents is probably down to the way the numbers are uploaded to the kroll site would be my best guess. It might not even be CW’s fault. Could be courts or maybe accounting firm who are uploading. They need double checking though.

The rents should be included as they are prepared on an accruals, not cash basis.

If you look between November and December they seem to have lost 3.5% gross margin which seems very strange.

They’ve just got to careful that they don’t run out of cash.

This will boil down to whether or not when they produced the DIP cash flow forecast were they conservative or is this improved slate not factored in.

Maid - Do you honestly believe the lenders are following the SP? Seriously?

You’ll probably fine something he’s said on AMC recently which would probably be your best indicator.

I don’t think they pumped up the share price mate. The vaccine was announced. All the recovery shares jumped 30-40% on the news.

Plus he only used the shares as collateral (security) and they still have their 20% family holding so they haven’t been offloaded to anyone.

That report kind of backs up what Hexam has been saying that it's the fuller slate and wider releases that are needed to fill the venues with the larger numbers of screens and make them profitable again.

I watch CNBC n0w and again but I don't think I 'm a particular fan of Jim Cramer. When his show is on I'm usually at work for starters.

If you're a commentator on stocks I'd imagine you're going to have backed most losers at some point I guess? I think his background is in trading though right?

I'd be more inclined to listen to someone like Warren Buffet!

'To whittle down to two or three, they will need to buy out the rest in full. One of the first lien lenders is the main landlord. Are they going to buyout the company in full. They rely on rent from Cineworld as well as debts owed. Investec borrowed from HSBC and Barclays. They have to pay back the loans in full in 2025. Will they look to be bought out. There is zero agreements amongst the ad hoc group. Also the judge can deny them D4E equity if he feels there are better ways for the company. They have no comeback on this. Hence why the auction in April is before any debt for equity plan is discussed.'

Ian not much of this is true. There is no landlord on the list of ad hoc lenders. You have no idea who the lenders have borrowed off or even if they have borrowed at all. You have no idea when any loans have to be repaid back as there is no public information to this effect. Why do you keep peddling all this BS?

Plus the lenders do not have to pay each other off in full, only improve the deal they would get if they accepted their part of the D4E. For example they could reduce the haircut of those who have no interest in participating in Newco and just want to maximise their recovery. We know there are 20 odd companies in the ad hoc group. What we don't know is how much each is owed. There might be some big players owed tens or hundreds of millions. Some might only be owed peppercorn amounts. It all depends on who owns the original bonds and who contributed what during COVID during the refinancing.

Plus Vue was a private company so you don't necessarily know how the debt was syndicated in the background pre bankruptcy. It's the same issue just on a larger and more public scale.

I reckon once the D4E is agree that number of lenders will whittle down to two or three who will go forward, bit what like happened with Vue.

Tegop

That's my understanding of it as well.

They should defiantly be in there as the reports are prepared on an accruals basis.

It’s probably an online portal that is entered manually and they have been missed off.

You would think such important information would be sanity checked though. Or they should be balancing back to the profit figure when entering.

RI - what derampers do I converse with? I challenge you to name one. I was challenging this John character that turned up the other day when he suggested Mooky was hiding in Israel.

I largely ignore posters who don’t offer anything intellectually to debate unless they are pristine rampers like Fig Tree Harry, Magmanus, Maidit, etc.

RI - I'm not really interested in what happens to this invested, other than feeling sorry for the longer term holders like Hexam, HNS, etc, I'm interested in following the C11 process and in particular identifying the red flags and warning signs which are largely ignored by PIs in order to increase my own investment knowledge.

I don't expect posters who constantly accuse people of being shorters to understand this is it's a more sophisticated choice for being here than they are capable of comprehending.

I have never recommended anyone buy or sell shares - ever, I never comment on the SP only the fundamentals of the company - which is the area I am interested in.

You say nothing is certain and I agree to an extent, although the company have told you whats is expected to happen. A quick calculator of debt vs potential value would tell anyone even with a very modest understanding of valuations that there won't be enough on the table to satisfy the ad hoc group, let alone unsecured creditors who will receive cents on the dollar.

RI - I think it’s you who hadn’t understood the dilution.

The company have told you that it expects no recovery for shareholders.

The current MC and SP won’t matter because the equity will be given to the lenders and incorporated in a new company.

Anything in between regarding SP is a trading opportunity for those with strong stomachs.

‘If there is equity greater than todays market cap after that D4E, that is a win for those with a low entry.’

Today’s market cap and SP will mean diddly squat once the D4E and restructure go through.

‘What happens if Mookie wants to keep majority hold on the business and instead of selling up the whole business and he partner up with someone to help clear a large amount of the debt, what would happen to the share price? Seen similar stories of the same outcome..’

They’ve flogged that horse to death for two years after COvVID. C11 happened because they had reached the end of the line and had ran out of cash.

No offers, no investors, no credit lines left, hence C11 was their only real choice.