CNP - Centro Properties Group

[Trojax]

The lenders\banks are in the loop, it's the media whose been 'cut out', hence their mentioning 'secret easter meetings' lol.

If the meetings were secret, how can the journo know any facts LOL.

 

[vida]

Exactly what I thought about the reference to 'secret' meetings which simply means the journalist could not get anyone to disclose anything. By calling it secret the journalist is justifying the lack of any new information in the article.

The lenders\banks are in the loop, it's the media whose been 'cut out', hence their mentioning 'secret easter meetings' lol.

If the meetings were secret, how can the journo know any facts LOL.

 

[asx256]

i just don't understand why you guys are so concerned about this article! 99.5% of times these guys are wrong. IMO the best source is afr, and even they cant get things right.

your second best friend as we all know it, is ur chart. i have bought some shares recently (about 20K@ 0.30) and i think at the end of the day it will be worth it.

 

[AnDy62]

Worth it by the end of the day eh? Bit of a ramp. Just kidding : Good luck to you, brave buy, time will tell...

 

[metric]

http://www.businessspectator.com.au...-to-pounce-as-predators-close-in-on-Cen-D2W4A

Pelorus Property Group is trying to take control of some trusts managed by Centro Properties Group. Centro is under severe financial stress but is resisting the attempt of the Australian-listed property manager to gain management control of some of its smaller unlisted trusts. Pelorus has questioned why Centro has suspended distributions if the trusts are not affected by the problems of the parent, and has raised concerns about an interest rate hedging contract

 

[metric]

also, in news , Six groups have expressed interest in the recapitalisation of the troubled Centro Properties Group. It is thought the Macquarie Group is the only Australian party to have submitted a proposal to adviser, Lazard Carnegie Wylie, by the deadline in mid-March 2008. As well, Centro wants to sell its half-interests in two wholesale property funds, Centro America Fund and Centro Australia Wholesale Fund

http://www.businessspectator.com.au/bs.nsf/Article/Six-parties-to-Centro-rescue-D2SJA

 

[vida]

My holding in CNP is 15000 at 0.5286 per share so I am well out of the money at the moment.

I hope our trust is rewarded and CNP's recapitalisation and debt reduction is on track as the company says in latest reports. he media says otherwise and terribly so but they love to get attention and sell papers.

I am crossing my fingers, toes, hair and eyelashes it works out well and trying not to log into comsec and glimpse the downard SP today. I definitely know I won't be buying any more of it but won't be selling soon either.

It is concerning though, reading the negative news reports which have an impact on the SP as they come through. Its probably better not to read them

i just don't understand why you guys are so concerned about this article! 99.5% of times these guys are wrong. IMO the best source is afr, and even they cant get things right.

your second best friend as we all know it, is ur chart. i have bought some shares recently (about 20K@ 0.30) and i think at the end of the day it will be worth it.

 

[vida]

CNP are being sued for non disclosure. Is anyone nervous now?

I am out of the loop of the litigation period as I sold and repurchased in March.

THis is looking grim indeed although the credit squeeze is easing up and before the litigation gets off the ground it may all be sorted out.

Hope CNP are on track as they claim to be.

 

[metric]

there will be some bargains to be had in the next few days.....if one believes centro can sort it out. it can IMO.

why be nervous. its only money

 

[metric]

does anyone have an insight into who are the major shareholders responsible for the litigation, and has it anything to do with Pelorus, or any other preditors looking to pounce on centro?

 

[vida]

The only major shareholders remaining are the Commonwealth Bank and they would not be suing as they are working with CNP to get it all sorted out. They are the major shareholder and creditor as well, is that right? I reckon the litigants doing a class action become a major shareholder together but singly they are not. I would imagine CNP executives would be big shareholders but they may not be and they would not be suing. Anyone here going to join the litigants? I believe Slater & Gordon are going to act for litigants suing MFS, maybe its time to buy S&G shares Yeah I am keeping my CNP and just forgetting about it, whatever happens happens, its only money, a holiday in Greece as far as I am concerned. Melbourne is nice in September as well and staying in my own home saves a lot of money. I can just as well be a tourist here and re-discover my home town in comfort and no luggage and airports etc necessary.

 

[vida]

OOPS i was wrong, Commonwealth are not the only major shareholder. Totally inaccurate incorrect and wrong.

Why don't CNP make a press release with some good news!!?? I think they are waiting to be very sure and have dotted line signed etc before any significant announcement.

At the moment all they have are expressions of interest the details of which should be disclosed to shareholders I would think but its their decision and its a case of need to know basis and I guess we don't need to know until things are final.

We would like to know more however so we don't lose sleep, not that I am.

My cousin had about $100K invested in CNP as of a year or two ago. They were very impressed with the dividend payments. I would think she and her husband will be completing the YES box on the class action.

The only major shareholders remaining are the Commonwealth Bank and they would not be suing as they are working with CNP to get it all sorted out. They are the major shareholder and creditor as well, is that right? I reckon the litigants doing a class action become a major shareholder together but singly they are not. I would imagine CNP executives would be big shareholders but they may not be and they would not be suing. Anyone here going to join the litigants? I believe Slater & Gordon are going to act for litigants suing MFS, maybe its time to buy S&G shares Yeah I am keeping my CNP and just forgetting about it, whatever happens happens, its only money, a holiday in Greece as far as I am concerned. Melbourne is nice in September as well and staying in my own home saves a lot of money. I can just as well be a tourist here and re-discover my home town in comfort and no luggage and airports etc necessary.

 

[nioka]

i think with todays SP of 0.24-0.25 a lot of investors are happy with $2.50 PS!!

2.50 is better then nothing imo. the only winners are people who bought below 2.50:

Don't get too carried away with that statement of value. That amounts to a total value of $2,075m if there are approx 8.3m shares. Short term debt is > $2.5 billion. If you want to go on that valuation as being an asset valuation there is not much left for shareholders. Maybe that valuation is by some one wanting to get a bargain buy.
I find it hard to value CNP because their organisation is so tied up with the management rights and shareholdings in so many "offshoot" organisations.
Or are my figures wrong? I have made mistakes before.

 

[moneymajix]

also apparently Big Mac has loaded lots of shares yesterday just in case, for a big day. win win situation for them IMO

Is it certain Mac was buying and/or selling yesterday?
Is this a rumour or is there any evidence at this stage?

 

[Trojax]

from my understanding ............

I THINK xxxxxxxx is the bottom. good luck to all holders

Thats a pretty big call.. 69.7% of CNP is already tied up with Insto's

HSBC 16.3%
JP MORGAN CHASE 12.4%
NATIONAL 11.4%
CBA 10%
CITYCORP NOMINEES 7.6%
CITYCORP PTY 7%
VANGUARD 5% (of which 4% is JP Morgans anyway)

That's 69.7% held, once any other player or custodian hits 5% they'r required to notify the ASX as being a major holder within, 2 or 3 days max from memory. HSBC, JPMORGAN OR CITYCORP could easily make a play if they wished to, but haven't at this stage.

If Mac is making a move on CNP I'd have thought we'd have seen an ann by now given the sheer volume churning since last week, not saying either way if occurring or not, but does seem just as likely as Blackstone or GE or any other party, ie all out there until something is confirmed somewhere, somehow, by someone LOL, it's all smoke n mirrors for now.

$xxxxx a share seems even as a guesstimate, extremely high given NAB online puts the NTA @ $1.31

 

[Sean K]

Gents, posts have been removed here because of unstabstatiated rumours claiming high premiums to the current sp, which only leads anyone with any reason to assume they are ramps. Please stick to some facts and figures, and/or provide an open source reference. Thanks, kennas

 

[yang]

whats the go with the big price bids & big volumes placed just now...

1 82,222 0.825
1 52,500 0.800

and then quickly retracted....

 

[nioka]

whats the go with the big price bids & big volumes placed just now...

1 82,222 0.825
1 52,500 0.800

and then quickly retracted....

Prices quoted in the "Auction" time, 4pm to 4.10pm don't mean people are offering those exact prices. They are positioning themselves in the "Queue". If you get a detailed quote during those periods you will get an "indicative" price. During this period there are often buy and sell orders placed to influence a price and withdrawn before the auction is completed at 4.10pm. The same applies at 9.50am to 10 am. I assume this is what you saw.

 

[yang]

Prices quoted in the "Auction" time, 4pm to 4.10pm don't mean people are offering those exact prices. They are positioning themselves in the "Queue". If you get a detailed quote during those periods you will get an "indicative" price. During this period there are often buy and sell orders placed to influence a price and withdrawn before the auction is completed at 4.10pm. The same applies at 9.50am to 10 am. I assume this is what you saw.

its nice to learn

thanks for that nioka... so the large bid wouldve been put in to knock the price up? (as it would seem as though it pulled it down slightly).

yang

 

[Trojax]

its nice to learn

thanks for that nioka... so the large bid wouldve been put in to knock the price up? (as it would seem as though it pulled it down slightly).

yang

Yeah thanks from me too, I had no idea on that, is it common for that to happen? So sus though, even on close peeps can still be playing games!

I really wish CNP would clear the air now regarding the finalised offers, we pretty much know the players on the stakes up for sale, there were media reports equity injectors were adverse to CAF\CAWF selling, of course they would be, but the juggling thats going on really needs some public announcement sooner than later, it's getting to be hard to be positive in the face of the media grind these days, very draining.