re: letter from centro capitalisation...
Companies Announcement Office Australian Stock Exchange Limited 10th Floor, 20 Bond Street Sydney NSW 2000
Dear Sir In regards to the article on page 18 of the Australian Financial Review today, as previously announced, Centro Properties Group (Centro) is in discussions with a number of parties and lender groups in relation to the recapitalisation process. These discussions are continuing but remain incomplete. At this time, there is no certainty or assurance that these discussions will lead to a transaction, what form such transaction may take, or what value might arise out of a transaction, if any. There have been offers received for Centro’s interest in the Centro Australia Wholesale Fund (CAWF). The Group has reviewed the offers and is reconsidering the marketing strategy for this interest to achieve the most value. This may include selling the CAWF properties in smaller portfolios and/or individually. The Centro America Fund (CAF) process started later than the CAWF process and is ongoing with offers currently being considered. Discussions are also continuing with lenders on the extension of facilities beyond 30 April 2008. The Board will make decisions on its options in the best interests of shareholders and at the appropriate times and will inform the market accordingly.
CNP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
