Cineworld Share Discussion Threads

[lthtrust] 30/5/2023 14:29

Werethereisawill, why not sell now ? this is a bulletin board to discuss companies, their valuations, bankruptcy proceedings and share price development etc. Why do you keep posting about the latest movie when it has, and will have no bearing on the future value of Cineworld's shares ? The shares will have ZERO value ?

[werethereisawill] 30/5/2023 13:55

Killers of the flower moon on its way !!!

[werethereisawill] 30/5/2023 13:50

Ok why do you keep on repeating the same thing no point in selling now
We love the movies

[lthtrust] 30/5/2023 00:04

The decline of Cinema in the US continues !!
The current US total month to date (MTD) box office total for May 2023 is just 70.5% of the equivalent 2019 May MTD figure (on a US dollar basis). After allowing for inflation the admissions figure for May 2023 will clearly be even worse. Source boxofficemojo. Current MTD May 2023 US total boxoffice is $697,771,376, the equivalent MTD may 2019 boxoffice was $989,419,501. As stated in several RNS's by Cineworld, they expect that current shareholders will get NOTHING after the ongoing restructuring under chapter 11.

[werethereisawill] 29/5/2023 21:35

Maleficent 3 is on its way
Meanwhile The LittleMarmaid had one of the best Disney open !

[lthtrust] 29/5/2023 18:05

On the 3oth June 2022 the equity attributable to equity holders (shareholders) of the Cineworld Group was -$670.8 Million, Yes that's MINUS $670.8 MILLION. This is according to Cineworld's interim results for the period ending June 2022. Cineworld have sought Chapter 11 bankruptcy because they were running out of money. Creditors are not expected to paid out in full as a result of the ongoing restructuring and yet there still some retail PI who believe that shareholders will (and deserve to) get a pay out. OMG, It is quite simple, the equity has been LOST.

[pwhite73] 27/5/2023 08:28

JakNife - The Honourable Judge Mr Marvin Isgur has already made his views clear and unequivocal on any shareholder claims. He will not entertain a Shareholder committee or any visitation on the agreed proposals between the Debtors and the Creditors unless the shareholders demonstrate they can bring financial value to the table. For example if the shareholders were to offer $10 billion for Cineworld and deposit such funds with the court then he is all ears.

[pwhite73] 26/5/2023 22:57

JakNife - "Mr Grama must now convince the judge that the valuation that is being used in the Ch11 plan of $2.26bn is loo low".

Mr Grama has to convince the judge nothing of the kind. What Mr Grama is requesting is that the court approves an independent valuation before Cineworld is permitted to exit C11 on the current proposals. Any valuation presented to the court by Mr Grama is hardly what you could call independent.

JakNife - "In reality, that therefore means that Mr Grama has to prove that Cineworld's “true valuation” is greater than about $6.76bn, which is $2.26bn plus the $4.5bn of debt that's being written off."

Wrong again. What Mr Grama is arguing was that Cineworld had to agree on a derisory valuation of $2.6bn set by the creditors in order to have $4.5 billion of debt written off, further funding secured and all the assets handed over to the creditors. In short the valuation of $2.6bn was set under duress.

JakNife - "the only reason that the judge is hearing the motion is to demonstrate transparency that all arguments have been properly heard."

I agree on this. Mr Grama's attempts in the US are a non-starter but not necessarily so in the UK. If there is administration in UK then the assets would be valued by the administrator who are independent of the company and its creditors.

[werethereisawill] 26/5/2023 22:00

The Little Mermaid is simply Brilliant.
Do not miss

[williamcooper104] 26/5/2023 19:27

Oh ok then so because you need 75 percent approval no UK listed company has ever gone bust Get real Cine is insolvent and there's zero value for equity Delaying, frustrating the insolvency process only adds to super senior priority legal/admin fees

[werethereisawill] 26/5/2023 19:06

Anyway we are not selling

[tron343] 26/5/2023 17:54

Shareholders have sent a letter to the judge. The fat lady has not sung, and this is not over. Plus we are hoping that the US CH11 agreement, is not binding in the UK.
For example, in the UK to delist the stock you need 75% shareholder approval. Lets
hope the UK courts provide more protection for uk shareholders.

[williamcooper104] 26/5/2023 14:50

Yep Juniors get massacred Unsecureds get vaporised And equity gets a return LoL

[lthtrust] 26/5/2023 13:57

Do not expect to receive any return, you have been repeatedly advised what to expect in RNS's by Cineworld themselves.
This is what happens in the UK:
"An administrator’s job is to either restructure the business and reach an agreement with indebted creditors, pay the creditors by realising the company’s assets, or sell the business to new owners as a going concern to yield greater returns than if the company was liquidated. Shareholders are right at the back of the queue behind all the firm’s other creditors.

It can take some time for shareholders to find out their fate and for the situation to be fully resolved. For example, shareholders in department store Debenhams were certain to be wiped out by its administration process in April 2019 but they had to wait until May 2020 before the company’s shares were moved from administration to dissolution status.

At that point, administrators of the company confirmed there had not been and will not be any return to the company’s shareholders, thus Debenhams’ shares were finally removed from shareholders’ investment accounts as they were worthless.".

[pwhite73] 26/5/2023 12:39

Those rules apply to shares listed on the US stock exchanges not to the UK. The law in the UK is quite clear on this matter. Public listed shares on a UK stock exchange cannot be delisted as a result of a Chapter 11 outcome.

[lthtrust] 26/5/2023 11:26

If junior bond holders are to recover 3% to 4% of their debt, how much will shareholders recover ? it is obvious NOTHING. Cineworld have told you what to expect many times.
"Chapter 11 bankruptcy allows businesses and some individuals to reorganize and restructure debt while receiving protection from creditors.
Stock values are adversely affected by bankruptcy speculation, and even more so by the actual filing.
After filing for Chapter 11, the company's stock will be delisted from the major exchanges.
Common stock shareholders are last in line to recover their investments, behind bondholders and preferred shareholders.
As a result, shareholders may receive pennies on the dollar, if anything at all.".

[pwhite73] 26/5/2023 07:56

SupeARich - If "the Proposed Restructuring does not provide for any recovery for holders of Cineworld's existing equity interests", then it could mean no recovery from the current dire position of a 97-99% loss"

Your interpretation is literally the correct one whether this turns out to be the case is another matter. When existing shareholders are to be totally wiped out the words normally used are "there will be no value attributed to the existing shares".

[lthtrust] 25/5/2023 22:00

Cineworld gives details on bankruptcy and update on all its cinemas:

From the news article:
"The restructuring plan will wipe out shareholders in the cinema chain to support its lenders and creditors. Its shares already plummented by 99 per cent over the past five years, with the pandemic hitting it hard and forcing it to close some of its cinemas.".

[werethereisawill] 25/5/2023 18:41

To whom it may concern: we are not selling ! If we go down you might go down with us okay ?

[williamcooper104] 25/5/2023 18:09

Nada 2.5 of newco would be a huge windfall from current sp

[lthtrust] 25/5/2023 18:01

SupeARich. No it means does not provide for any financial recovery whatsoever. Which means that the existing shareholders are expected to get NOTHING, NIENTE, ZILCH, not a penny or cent !!!