Cineworld Share Discussion Threads

[pwhite73] 18/5/2023 10:42

Wc104 - "Again look at the market cap"

Nothing to do with the market cap its the amount of free float available. 1.3 billion shares in issue of which 270 million are owned by the Greidingers. A billion shares are available for borrowing.

Speak Later.

[werethereisawill] 18/5/2023 10:42

Does the Box office include theatres?
Private hire ? Concerts ?
Hmmm you don’t need a ticket to go into in house Starbucks

[lthtrust] 18/5/2023 10:38

They will not come unstuck in the UK courts, it is just standard procedure. The worry is probably just that they do not want to waste time and money unnecessarily. Pwhite73 how many $ Billions have cineworld declared in losses since 2019?

[lthtrust] 18/5/2023 10:32

Very small market cap as wc104 says. The usual gambling PI before the inevitable shareholder wipeout. My concern is that NewCo may suffer a similar fate if things do not improve significantly.

[williamcooper104] 18/5/2023 10:32

Sorry - alas not UK retail brokers don't lend out stocks Again look at the market cap - even if you could borrow you couldn't get a meaningful position

[pwhite73] 18/5/2023 10:24

Wc104 - Its you as a PI that cannot get stock to borrow. The institutions borrow from nominated brokers like Hargreaves, iii, Barclays etc where PIs hold their shares.

[pwhite73] 18/5/2023 10:22

LTHTRUST - That's because box offices are still recovering from Covid. It takes about 4 years to make a block buster movie. If you take out 2020 and 2021 any block buster started in 2019 would not be ready for the cinemas until 2025/2026 exactly the time when the Cineworld bonds are due. The creditors are moving in before Cineworld can settle with them. They've been successful in the US for obvious reasons but will come unstuck in the UK courts.

[williamcooper104] 18/5/2023 10:11

There's not institutional shorts playing here Too small a market cap to get a position of any size - even if they could get the borrow

[williamcooper104] 18/5/2023 10:09

Can't get no borrow Doh

[lthtrust] 18/5/2023 10:09

US total box office revenues for 2023 are currently 25.7% less than the equivalent 2019 year to date revenues. This is a direct US dollar figure comparison which does not take inflation into account. The total admissions figure will therefore be even worse. Source boxofficemojo.

[pwhite73] 18/5/2023 08:34

The rise is simply institutional shorts getting nervous about the protracted C11 it has nothing to do with the fundamentals of the case. Shareholders will need to await the update on the UK proceedings which I believe will be in their favour.

[werethereisawill] 17/5/2023 18:29

Sister Act 3 on its way !!

[werethereisawill] 17/5/2023 13:57

Time will tell

[millennialinvestor] 17/5/2023 12:54

PWhite HUMILIATED on the cine thread.

[williamcooper104] 16/5/2023 21:03

Are you long CINE

[lthtrust] 16/5/2023 16:41

It has nothing to do with shorters. It has everything to do with Cineworld Losing $Billions since 2019. Cineworld has borrowed $billions, and lost it. There is no money left to pay all their debts, also as the screendaily article says: "
“The proposed restructuring does not provide for any recovery for holders of Cineworld’s existing equity interests,” the company stated last month, confirming existing shareholders will be wiped out.

The shareholders therefore have very little redress against the cinema giant.

“While Cineworld’s shareholders will rightly be concerned about their equity interests, their options are unfortunately limited,” solicitor Olexandr Kyrychenko, partner at IMD Corporate told Screen."

[werethereisawill] 16/5/2023 16:01

Reading the Screendaily article one can see how much damage these shorters are being allowed to cause !

[loglorry1] 16/5/2023 15:34

PWhite just take his bet if you are so confident? I'll also bet you £10K on the same basis.

[livup967] 16/5/2023 15:01

look like they are not going to have it all there own way
as you say P WHITE

[millennialinvestor] 16/5/2023 10:58

JakNife has beaten PWhite black and blue lol


Will PWhite come back for more? Will PWhite accept JakNifes Wager???? lol

[kreature] 16/5/2023 10:46

I notice it’s 99.69% down over the last 5 years. Just a blip, or is something amiss ?

[jaknife] 16/5/2023 10:28

PWhite73,

"Feel free to explain whatever you like however page 1 of docket 1600 is clearly headed 'CINEWORLD GROUP PLC, et al' and three paragraphs later states."

Page 1 of the document is simply a cover page that links the attached document to the bankruptcy of Cineworld Group plc and its other subsidiaries:



If you move through to the actual engagement letter you'll find:

A. It's addressed to "The Directors, Crown UK Holdco Limited"

B. 1.2 states: "Crown UK Holdco Limited (the “Company”) and its subsidiaries are referred to in the Contract as the “Group”."

C. The engagement letter proceeds to describe accounts being produced for "the Group".

As I've previously noted, this is all consistent with a plan where the banking group take control of Crown UK Holdco Limited and all of its subsidiaries but walks away from the UK PLC.

But feel free to disbelieve me. I simply confidently assert that both (a) the Cineworld accounts for the 12 months ending 31 Dec 2022 AND (b) Cineworld's statutory accounts to 30 June 2023 will *NEVER* be published.

warmest regards,

JakNife

[werethereisawill] 16/5/2023 10:18

PWhite
The Eurovision was a hit too I hear the ladies let their hair down

[pwhite73] 16/5/2023 09:51

JakNife - "Do I need to explain to you the difference between consolidated account of the group headed by Crown UK Holdco Limited versus consolidated accounts of the UK PLC?"

Feel free to explain whatever you like however page 1 of docket 1600 is clearly headed 'CINEWORLD GROUP PLC, et al' and three paragraphs later states.

"PwC UK and the Debtors desire to enter an additional engagement letter (the “Additional Engagement Letter”), attached hereto as Exhibit A, dated as of April 20, 2023, for the engagement of PwC UK to, among other things, prepare an offering memorandum with respect to the Debtors’ proposed issuance of senior notes in connection with their chapter 11 plan of reorganization, as set forth in the Additional Engagement Letter. All additional services performed by PwC UK, as set forth in the Additional Engagement Letter, shall be subject to the provisions of the PwC UK Order."

Speak later.