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Just remember shares are worthless on May31 if read it correctly
Looks like capitulation. Will see gap up and green tomorrow.
Just bought 135'000 before close, GLTY
CEDCQ, Funds and insiders holdings:
Central European Distribution C
Other OTC:CEDCQ
Shared held: 12,920,411, Direct
CAREY WILLIAM V: 2,447,249 shares.
LEE RYAN: 179,000 shares.
WINTERTON GRANT: 160,000 shares.
EVANGALOU EVANGELOS: 134,719 shares.
They have NOT sold a single share.
Furthermore, some insiders bought at $5-$11 in the past and still holding without selling:
Aug 18, 2011 SIEGER MARKUS
Director
12,000 Direct Purchase at $5.60 per share. 67,200
Aug 11, 2011 SHANAHAN WILLIAM S
Director
10,000 Direct Purchase at $6.22 - $6.3 per share. 63,0002
Aug 10, 2011 BIEDERMANN CHRISTOPHER
Officer
3,000 Direct Purchase at $5.56 per share. 16,680
Aug 10, 2011 EVANGALOU EVANGELOS
Officer
3,485 Direct Purchase at $5.49 per share. 19,132
Jun 1, 2011 KOCH ROBERT P
Director
4,000 Direct Purchase at $11.97 per share. 47,880
I'm afraid they might be buying Big shares at low's currently, as their cost were in DOLLARS, and they'll push it to go High, much high to get their HUGE money back.
If I wasn't out of offic today, I would have added a lot more at low's. Hope it may stay here tomorrow and add.
imo better offer on the table,too much important business in east europe,
hahaha what happens?? you never plan what you gona trade?
everyones LOvE Vodka with orange juice on South Florida!!
CEDC. heading up next week. trading above 0.06
CEDCQ, $0.04, next AAMRQ. High: $4.33 this year. The Insiders/funds are still holding around 20 M shares and keeping buying Big shares at low's.
Going Huge like AAMRQ! AAMRQ went to $7.15 from $0.36 this year.
WELL DONE CONGRATS $$$$$$
what kind of mania is this? Shorts seem to be scrambling
My thoughts exactly.. Wonder why the sudden pop and ask slappin
At the closing of the transaction, which eliminates approximately $665.2 million of debt from the balance sheets of CEDC and its U.S. subsidiaries, the Company will make a cash payment to holders of its 2013 Convertible Notes and certain of its 2016 Senior Secured Notes and issue new notes to holders of its 2016 Senior Secured Notes and new shares to RTL, cancelling all previously issued 2013 Convertible Notes and 2016 Senior Secured Notes and shares of outstanding CEDC common stock. As a result of the cancellation of CEDC’s common stock, as at the day of closing of the transaction CEDC will cease to be a public company in the U.S. and in Poland and anticipates that its common stock will no longer be subject to listing and trading on the Warsaw Stock Exchange. RTL, owned by Mr. Tariko, will receive 100% of the outstanding stock of the reorganized Company in exchange for funding CEDC’s cash payments under the Plan and the cancellation of CEDC’s existing debt obligations to RTL.
NEWS!!!!!
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported): May 13, 2013
CENTRAL EUROPEAN DISTRIBUTION CORPORATION
(Exact Name of Registrant as Specified in Charter)
DELAWARE 001-35293 54-1865271
(State or Other Jurisdiction
of Incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
3000 Atrium Way, Suite 265
Mount Laurel, New Jersey
08054
(Address of Principal Executive Offices) (Zip Code)
(856) 273-6980
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
--------------------------------------------------------------------------------
Item 8.01 Other Events.
On May 13, 2013, the Company issued a press release announcing the confirmation of its prepackaged plan of reorganization, a copy of which is being furnished as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01. Financial Statements and Exhibits.
Exhibit
No.
Description
99.1 Press Release of the Company, dated as of May 13, 2013
--------------------------------------------------------------------------------
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, Central European Distribution Corporation has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
CENTRAL EUROPEAN DISTRIBUTION CORPORATION
By:
/s/ Grant Winterton
Grant Winterton
Chief Executive Officer
Date: May 13, 2013
--------------------------------------------------------------------------------
Exhibit 99.1
LOGO
CEDC Reorganization Plan Wins U.S. Bankruptcy Court Approval;
Closing of Transaction Expected on or about May 31
WARSAW, Poland – May 13, 2013 – Central European Distribution Corporation (CEDC) and Roust Trading Ltd. (RTL) announced that CEDC’s Prepackaged Plan of Reorganization (the Plan) today won approval from the U.S. Bankruptcy Court for the District of Delaware, clearing the way for CEDC to emerge from the restructuring process as a financially stronger company.
The approval means that the Court has confirmed the Plan submitted to the Court by CEDC and that the company may proceed with the closing of the restructuring transactions contemplated by the Plan, which, assuming all conditions are met, is expected on or about May 31.
“The Court’s approval of our financial restructuring is a very positive step forward for the Company,” said Roustam Tariko, CEDC Chairman. “The Company’s world-class brands are now able to continue to build on their success locally and globally and perform as category leaders.”
Required competition authority approvals already have been granted by regulatory authorities in the Company’s key markets of Poland, Russia and Ukraine.
At the closing of the transaction, which eliminates approximately $665.2 million of debt from the balance sheets of CEDC and its U.S. subsidiaries, the Company will make a cash payment to holders of its 2013 Convertible Notes and certain of its 2016 Senior Secured Notes and issue new notes to holders of its 2016 Senior Secured Notes and new shares to RTL, cancelling all previously issued 2013 Convertible Notes and 2016 Senior Secured Notes and shares of outstanding CEDC common stock. As a result of the cancellation of CEDC’s common stock, as at the day of closing of the transaction CEDC will cease to be a public company in the U.S. and in Poland and anticipates that its common stock will no longer be subject to listing and trading on the Warsaw Stock Exchange. RTL, owned by Mr. Tariko, will receive 100% of the outstanding stock of the reorganized Company in exchange for funding CEDC’s cash payments under the Plan and the cancellation of CEDC’s existing debt obligations to RTL.
The approval of the Plan marks the culmination of more than a year’s worth of work to bolster the Company’s financial structure and create a long-term business alliance with Mr. Tariko’s Russian Standard Vodka. During that process, two entities shared responsibility for safeguarding the interest of all CEDC constituencies from a corporate governance standpoint: the Special Committee of independent directors, headed by CEDC Vice Chairman N. Scott Fine, and the Restructuring Committee, consisting of Mr. Tariko and Mr. Fine and his fellow independent Director Markus Sieger. These committees were assisted by the firm of Skadden, Arps, Slate, Meagher and Flom LLP as legal advisor, the firm of Houlihan Lokey Capital Inc. as financial advisor, and the firm of Alvarez & Marsal LLC as chief restructuring officer.
--------------------------------------------------------------------------------
CEDC and its U.S. subsidiaries, CEDC Finance Corporation International, Inc. and CEDC Finance Corporation LLC (collectively CEDC FinCo), on April 7, 2013, commenced voluntary proceedings under Chapter 11 of the U.S. Bankruptcy Code.
The Chapter 11 filing did not involve the Company’s operating subsidiaries in Poland, Russia, Ukraine or Hungary. Those operations, which are independently funded and generate their own revenues, have continued normally and without interruption during the U.S. restructuring process.
The terms of the Plan were described in the Amended and Restated Offering Memorandum, Consent Solicitation Statement and Disclosure Statement, dated March 8, 2013 (the Offering Memorandum), filed as an exhibit to a tender offer statement on Schedule TO-I/A on March 8, 2013, as amended and supplemented by Supplement No. 1 to the Offering Memorandum, dated March 18, 2013 (the Supplement), filed as an exhibit to the Form 8-K filed on March 19, 2013.
***
Media contact:
Sitrick And Company
Thomas Mulligan
thomas_mulligan@sitrick.com
+1 212 573 6100
Central European Distribution Corporation
Anna Zaluska
Corporate PR Manager
+48 22 456 6061
Bankrupcy hearing today? I see they pushed earnings out for the second or third time now.
Cool. Hope your making some money.
I sold last 10 cents, an moved my bid to 0.035
Still holding a huge amount of shares?
Not sure how to attach stuff yet. Go to marketwatch. CEDCQ. Click on analyst estimates and you should see a $3.11 average price target.
Please post your source for $3. I don't see it.
VC
I saw this on marketwatch earlier. Thx VC. Im wondering if the $3 dollar price target that marketwatch is showing is current or old?
CEDCQ News:
WARWICK, Bermuda, April 24, 2013 /PRNewswire via COMTEX/ -- Roust Trading Ltd. ("RTL") announced today that it has extended its private offer to exchange (the "Exchange Offer") each $1,000 principal amount of validly tendered and accepted 3.00% Convertible Senior Notes due 2013 (the "Existing CEDC Notes") of Central European Distribution Corporation ("CEDC") for (1) $193.17 principal amount of new Senior Secured PIK Toggle Notes due 2016 (the "New RTL Notes") and (2) $160.97 in cash. The purpose of the extension is to align the expiration date of the Exchange Offer with the scheduled confirmation hearing date for CEDC's amended and restated joint prepackaged chapter 11 plan of reorganization (the "Plan of Reorganization"), which date remains subject to change. As stated in the Exchange Offer documents, RTL intends to continue to extend the expiration date of the Exchange Offer as needed in order for such date to occur concurrently with the effective date of the Plan of Reorganization.
The Exchange Offer will now expire at 5:00 p.m., New York City time, on May 13, 2013, unless extended further. The Exchange Offer was previously scheduled to expire at 11:59 p.m., New York City time, on April 25, 2013. As of 5:00 p.m., New York City time, on April 24, 2013, holders had validly tendered $45,647,000 aggregate principal amount of the Existing CEDC Notes. Holders who have already tendered their Existing CEDC Notes need not take any additional action in order to tender their Existing CEDC Notes.
Tendered Existing CEDC Notes cannot be withdrawn, except (i) upon termination of the agreement (the "Plan Support Agreement") between RTL and an ad hoc committee composed of holders of Existing CEDC Notes related to certain proposed restructuring transactions with respect to the Existing CEDC Notes, (ii) to the extent that any material term of the Exchange Offer (as reasonably determined by RTL) is amended or changed subsequent to the date of such tender or (iii) as may be required by applicable law.
The Exchange Offer is being made only to holders of Existing CEDC Notes that have completed and returned an eligibility letter pursuant to which such holder represents and warrants that it is either (a) an institutional "accredited investor" (within the meaning of Rule 501(a)(1), (2), (3) or (7) of Regulation D under the Securities Act of 1933, as amended (the "Securities Act")), (b) a non-institutional "accredited investor" (within the meaning of Rule 501(a)(4), (5), (6) or (8) of Regulation D under the Securities Act) or (c) a person other than a "U.S. Person" (as defined in Rule 902 of Regulation S under the Securities Act).
The New RTL Notes have not been and will not be registered under the Securities Act, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements, and will therefore be subject to substantial restrictions on transfer.
This announcement does not constitute an offer to sell, or the solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful. No recommendation is made as to whether the holders of Existing CEDC Notes should tender their Existing CEDC Notes for exchange in the Exchange Offer.
The Garden City Group, Inc. is acting as the Information Agent for the Exchange Offer. Global Bondholder Services Corporation is acting as the Exchange Agent for the Exchange Offer. Eligible holders of Existing CEDC Notes can contact the Information Agent to request Exchange Offer documents at (202) 470-4571 or toll free at (866) 256-1123.
http://www.marketwatch.com/story/roust-trading-ltd-announces-extension-of-its-exchange-offer-for-300-convertible-senior-notes-due-2013-of-central-european-distribution-corporation-2013-04-24
VC
Sorry, wrong board, lol.
VC
A better comparison would be looking at a bank with 1. 29 O/S 2. No PREFERRED shares 3. CEO owns 1.3MM COMMON shares 4. in BK AND Federal District Court 5. option of appealing to Federal Appeals Court 6. Chpt 11 converted to Chpt 7
Not sure you can find any comparisons. This is a rare situation and a rare opportunity to make a ton of money. One thing is for sure- in the overall gambling environment (individual equities), any stock has the potential to go to ZERO. Few have an opportunity to DOUBLE in a nano-second, triple in 1 second, and give back 5000% within 1 trading period. Welcome to UWBKQ, lol.
VC
Hope we close above .08 today. Loading up more shares at bargain prices here imo.. Was looking at prices of other companies in the same business and they tend to range from .30- $50.00
CEDCQ .069 open (low of the day) and close EOD .0821 or higher will bring about the potential of a 100% move tomorrow (Friday), imo. It would also confirm the potential that Central European Distr. is coming out of BK. Last 2 BK filings indicate that 2 major investors are opposed to BK. Maybe the private capital route will in fact occur.
If so, you're looking at a multiple dollar stock.
VC
http://americanbulls.com/StockPage.asp?CompanyTicker=CEDCQ&MarketTicker=OTC&TYP=S
If this closes above today's close tomorrow, this will be BUY CONFIRMED.
VC
Nice! Lets go make sum money! Woo hoo!
Someone is accumulating. If this can open above .07 and close above .082 tomorrow, I think you see a big move to challenge the 20dma @ .174 on Friday. After that, no resistance until .32
VC
All the stops out yet? Time to move up?
ZLAZARUS- thanks for the thoughts, but I don't have pm capability. That said, CEDCQ is a mid-term hold as it emerges from BK. If true, I may hold long. UWBK*- more complicated because we await an appeal, settlement, or Chpt. 7- I am long, especially if appeal or settlement occur. Both are risks, but ROI is greater than other options in the market, imo.
VC
Selling is over. 2 major investors formally object to BK. Moving up.
VC
Will.check it out. This looks much more likely to move than that bank stock. Im gonna be patient and get paid here! Bailed at .48 and back for the reversal payday!
Read some of the 4/22 objection on Pacer. Not going to spend a ton of money on Pacer, but looking like a major reversal here based upon the nature of the objection. Chpt. 11 isn't a slam dunk and could easily see this come out of BK, imo.
VC
Agreed. UWBK* (also BK) is the risk play of the century.
VC
Cool. This is the risk play of the year for me. GL to all longs here.
To the weak knees and flippers: Just read a Law360 report that large investors object to BK status. The document is part of my subscription and I'm not at liberty to share further contents, but you can subscribe if you care to see what really is going on here. Get your ticket before they leave BK and shares are trading at a .50 minimum.
VC
Nice day here.
Not if they really cancel all outstanding shares of common stock under the reorganization plan. I'm a novice, so if that doesn't mean what it seems to mean, I'd love to know.
thinking .039 or .041 , maybe .032 0r .035 . watching for a bottom and reversal.
Wonder how low it can go?
CTSI banking on shorting last few trading days
yup just as expected.... below .06
Yea, I wish they would stop posting that stupid article. It just states the obvious, but it scares away novice Q investors.
Last PR are bad....
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CEDC GroupAbout usWe are the world's largest vodka producer, with annual sales exceeding 260 [or 280]million liters. We maintain leading positions in all of our key markets: Poland, Russia and Hungary. Our brand portfolio includes valuable and recognized brands like BOLS, Zubrówka, Absolwent and Soplica in Poland;Green Mark and Parliament in Russia; and Royal Vodka in Hungary. Each of these is a leader of their segment in these markets. We are also an active exporter. Zubrówka is delivered to over 40 countries around the world, including the United States, the UK, France and Japan. CEDC is also an important distributor and importer of alcoholic beverages. We cooperate with the biggest brands in the world, providing them with a developed distribution and sales platform in Poland, Russia and in Hungary. Our import portfolio in Poland includes, among others, Carlo Rossi, Concha y Toro, Metaxa Brandy, Remy Martin Cognac, Guinness, Sutter Home wines, Grant's Whisky, Jagermeister, E&J Gallo, Jim Beam Bourbon, Sierra Tequila, Teachers Whisky, Campari, Cinzano, Skyy Vodka and Old Smuggler. In Russia, Hennessey cognacs, Moet & Chandon and Concha y Toro wines are among the hundreds of assorted brands we import. ManagementAbout usExecutvie OfficersGrant WintertonRyan Lee Board of DirectorsRoustam TarikoDavid BaileyN. Scott FineMarkus Sieger Joseph J. Farnan JrAlessandro PicchiJose Aragon
CEDC around the world![]() ![]()
Mission and visionAbout usMissionCEDC's mission is delivering products of the highest quality, enjoying consumers recognition and achieving leading positions in the market, assuring the Company's profitability and creating value for our shareholders. Strategic objectives
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