Cineworld: Some bears are on the pitch, they think it’s all over – it is now!

The FCA should have suspended trading in the shares of Cineworld (CINE) weeks ago as I explained HERE but its crack team of regulators was too busy on the latest report into how the transgender pay gap in financial services is causing global warming to actually bother applying its own rules. But today the shares have been suspended. It is game over. They are officially worthless. Having called them as a sell at almost 200p that’s an ouzo on cornflakes moment for myself.

Cineworld (#CINE) – approves appointment of administrators, shares at last suspended

BREAKING: Evil Banksta writes to the FCA regarding Cineworld’s listing and rule breaches

Evil Banksta is the sort of naïve chap who thinks that the FCA actually bothers implementing its own rules. If I had a bridge to sell I know who I’d be selling it to. He has again written to the FCA pointing out that the crack regulators are ignoring their own rules regarding Cineworld (CINE) in not suspending the shares at once for a failure to publish results. The credulous fellow writes in his own name:

BREAKING: Another FCA Fail - why isn't Cineworld suspended for not publishing its accounts?

I see that there are plenty of AIM suspensions for non-publication of accounts this morning, however the FCA has ignored the one main-market company that hasn’t published its accounts and for which it is responsible.

Cineworld (#CINE) – Court confirmation of “plan of reorganisation”, to “not be any recovery for holders of Cineworld's existing equity interests”

Cineworld fesses to investors what it told staff two weeks ago, administration soon, share suspension "shortly"

To be fair, Cineworld (CINE) has explicitly warned the fools who still own its shares that as part of the Chapter 11 process they are going to lose everything. None the less, flagging up to staff as we revealed HERE, some two weeks before you tell investors that the PLC is going into administration seems a bit naughty to me. But today came the formal fess.

Cineworld (#CINE) – filed updated Chapter 11 plan, does not provide for any recovery for shareholders and shares to be suspended “shortly”

BREAKING: Mooky emails staff at Cineworld that administration & share suspension nigh, natch no RNS. Fuck the shareholders

On the Cineworld (CINE) shareholders Telegram home for deluded fools the following email purporting to be from Cineworld boss Mooky Greidinger to some of his staff has appeared suggesting it is going into administration. Natch, Mooky has not bothered to tell shareholders the bad news via RNS as he views them with contempt. The shares are 0.7p ( a £10 million market cap), down from 200p+ when I first warned you all. The target of 0p should be reached within hours. The email reads:

Cineworld shares slump 21% on Sky Report but still £10 million market cap is £10 million too high

Cineworld (CINE) has already warned numerous times that shareholders are going to get wiped out. Last night Sky reported HERE that the UK PLC would be put into administration this week. Natch, Cineworld which has always treated its shareholders with contempt has not issued an RNS.

Another one we called eons ago, Cineworld (#CINE) going into administration this week - Sky

Cineworld (#CINE) – “Chapter 11” progress update, reiterates for equity holders “does not provide for any recovery”

Cineworld (#CINE) – marketing process for 'Rest of World' business fails, reiterates no recovery for equity holders AGAIN

Cineworld – a third warning that its shares are worth nothing at all yet there are still buyers

There is another update on Cineworld’s (CINE) debt for equity swap and its hopes of emerging from Chapter 11. I wonder what sort of moron is buying the shares today, for some morons are buying.

Cineworld (#CINE) – files “plan of reorganisation”, does not provide for any recovery for equity holders

Cineworld Chapter 11 update, again confirms shares worth 0p – just who is buying?

This website has been warning folks that shares in Cineworld (CINE) were worthless for far longer than I can remember. But today, for the second time, Cineworld itself has explicitly stated the same. The shares are down by 24% on the news at 2.2p but that still values the company at £31 million. Out there in Moron land, some folks really still are buying the shares. Maybe they are chartists or followers of Doc Holliday. I don’t know. Words fail me. Anyhow CEO Mooky Greidinger seems happy. Screw the plebs.

Cineworld (#CINE) – “proposed restructuring”, “does not provide for any recovery for holders of Cineworld's existing equity interests”. We did tell y’all!

Cineworld and the last rites, no need to close shorts yet

This column has been calling Cineworld (CINE) as a short for absolute ages. It hardly seems credible but three years ago the shares were 170p. Today they are 2.9p and so anybody who has gone short as we advised all along has done well. You know where to send the “thank you” bottles of ouzo.

Cineworld explicitly spells it out for dummies – the shares are worthless

I told y’all that this would happen numerous times and explicitly a couple of days ago after the latest Court hearings in the USA HERE. Today Cineworld (CINE) has stated, in no uncertain terms, that its shares are worthless under every scenario. Amazingly the shares are down by only 23% at 3.05p. Yes some folks are buying the shares!

Cineworld (#CINE) – “reorganisation” plan and businesses sales proposals updates, not expected to be any recovery for equity holders as warned here

Cineworld saves the best until the end – its shares really are toast

Maybe it is a New Year’s Resolution? Cineworld (CINE) appears to to have turned over a new leaf and is, via RNS, now giving some commentary on how its equity is slowly being destroyed completely via the Chapter 11 process that kicked off on September 7.