CNP - Centro Properties Group

[metric]

the plot thickens...

http://www.businessspectator.com.au...nk-as-interest-falls-short-DBSYM?OpenDocument

Financially troubled Centro Properties Group has received six bids, but all are well short of its December 2007 share price of $A5.70. The prospective buyers are unwilling to pay more than $A0.90 per share. This is well above Centro's current share price of $A0.29, but seemingly not enough to put the company out of risk of administration.

for more go to link.

 

[wilko66]

the plot thickens...

http://www.businessspectator.com.au...nk-as-interest-falls-short-DBSYM?OpenDocument

Anyone have a view whether this article is the reason for this morning's surge? I understand their "more than between the lines" inference but in stating a bid of 0.90 I wonder if that accounts for the incredible buy/sell ratio and the SP uplift.

 

[propergeez]

Does Anyone have the original Australian Financial Review news statement? The business spectator says its their source, and wondering whether there is any differences - ie business spectator hyping:

Centro on brink as interest falls short

Source - The Australian Financial Review

TOP NEWS
US recession possible: Bernanke 4:58 AM
Opes Prime carnage grows 11:02 AM
Local market opens higher 10:51 AM
Leighton wins $1bn contracts 10:41 AM
Asciano sells Brambles stake 10:20 AM

THE SPECTATORS
SCOREBOARD: Financials bottom
Kohler: Forecast adjusted
Three-way split
Gottliebsen: Signs of life
Disclosure disaster


Financially troubled Centro Properties Group has received six bids, but all are well short of its December 2007 share price of $A5.70. The prospective buyers are unwilling to pay more than $A0.90 per share. This is well above Centro's current share price of $A0.29, but seemingly not enough to put the company out of risk of administration. Centro's lenders would prefer that the assets of the Centro Australia Wholesale fund be offered separately, as they hopefully await a more acceptable offer from a single large investor

Distributed by News Bites. © Lexis-Nexis

 

[Quixis]

http://www.afr.com/home/viewer.aspx...lls+short&source=/_xmlfeeds/property/feed.xml

What's do you think the comments about the head stock are? Valid?

 

[metric]

Anyone have a view whether this article is the reason for this morning's surge? I understand their "more than between the lines" inference but in stating a bid of 0.90 I wonder if that accounts for the incredible buy/sell ratio and the SP uplift.

its got to be the article. cnp is up 32% @ 11.15 qld time. no other reason i can see, except this article.

 

[Trojax]

12:38pm 030408

967 buyers for 31,132,737 shares
158 sellers with 5,812,929 shares

*does a happy jig* lol

 

[jaeyon]

12:38pm 030408

967 buyers for 31,132,737 shares
158 sellers with 5,812,929 shares

*does a happy jig* lol

CNP up 55%. amazing.

who here thinks it'll come close to the .9 offered by the larger investors by close of business today?

 

[Trojax]

CNP up 55%. amazing.

who here thinks it'll come close to the .9 offered by the larger investors by close of business today?

*sticks hand up* LOL

That's not a buy tip btw, I hold a shatload already from averaging down, this is like getting some nookie on christmas morn, just doesn't get any better.

Vida, where you at? Gotta be grinning at this

Just cracked .60 LOL giddy up! EDIT and down again and up again, LOL this is insane volumes haha! Fun to watch!

 

[jaeyon]

*sticks hand up* LOL

That's not a buy tip btw, I hold a shatload already from averaging down, this is like getting some nookie on christmas morn, just doesn't get any better.

Vida, where you at? Gotta be grinning at this

Just cracked .60 LOL giddy up!

hmm rose pretty dam fast but just saw it drop down to .505 is this normal in a stock with a large volume being traded?

 

[Fed23]

What a run in a short amount of time. I was clicking for updates and every time it was 1cent higher, saw it hit 62cents and then come back down to 50.5.

 

[jaeyon]

hmm share price movement has slowed down dramatically, hovering around .505 mark

any thoughts? looks to me like its on a trading halt at the moment?

 

[hsv2001]

ooo pre_nr anyone getting more excited??? that was a massive drop after hitting 117 percent gain overall, than back down to 79 percent

 

[Birdster]

hmm share price movement has slowed down dramatically, hovering around .505 mark

any thoughts? looks to me like its on a trading halt at the moment?

I think your'e right. Status for me has gone pre-open. What a buzz watching the price move though.

Must be an ann coming...

 

[metric]

yeh, i was watching too. it shot up to 65 and then plunged to 50.5. dont know what thats all about. then i noticed the trading halt. where does one go to to find out why a trading halt was called? i looked on the asx, also the centro web site. no ann.

i was a jiggin too! why do they call halts on the way UP? but not on the way DOWN!!???

 

[jaeyon]

yeh, i was watching too. it shot up to 65 and then plunged to 50.5. dont know what thats all about. then i noticed the trading halt. where does one go to to find out why a trading halt was called? i looked on the asx, also the centro web site. no ann.

i was a jiggin too! why do they call halts on the way UP? but not on the way DOWN!!???

not good for the heart is it? what a wild ride. speculations on what the reason for the halt might be?

is cnp hot or not?

 

[hsv2001]

The announcement is pending atm, it will be on etrade or asx any second now, I imagine there will be a trading halt called tho pending a takeover or an acceptance to one of their 6 offers received today.

We can only wait from here........

ps tru, I wish they called the halt at 65 cents, then I'd be more excited lol

 

[vida]

That was amazing but unfortuantely/fortunately I didn't sell. I am not sure which is the right attitude at this point. Why did the news that CNP is near brink of administration send the SP up so fast? Although the journalist's conclusion is as usual overstated and nothing short of sensationalist hysteria. I don't understand at all what it all means to us. If they have offers of .90 cents per share, how does that translate to us getting that much per share? I dont' think CNP are going to accept that offer and things will be back to where they were yesterday and we will all wish we had sold today. What does everyone think? Are we in trading halt now, it is so weird.

 

[vida]

I imagine if there is a trading halt its because the ASX has requested information from CNP as to explanation for the sudden massive rise on the SP. It will be back on shortly am certain and will dive : hopefully not.

 

[Birdster]

not good for the heart is it? what a wild ride. speculations on what the reason for the halt might be?

is cnp hot or not?

Maybe to check the validity of the .90 cents offer. Imagine setting a rumor in place that a company was going to offer $2.50 a share to buy out Centro. The price would soar towards the offer.

Only speculation though.

 

[jaeyon]

from the asx website
"A company may request a trading halt in its own securities, e.g. if the company is negotiating a takeover.

If ASX agrees to the trading halt, trading ceases until either ASX lifts the trading halt, or the start of normal trading on the second trading day after the trading halt is imposed, i.e. up to 48 hours later."

normal trading halts are usually for 10 minutes, so if this lasts longer then 10 minutes....takeover anyone?