broker report, page-17

TP,

OK, great. Let's see what they come back with.

Under the corporations act, any shareholder is entitled to view the register at any time. If one wants a copy, it'll cost a cool $6k (I enquired a while back) but it's free to view if one is prepared to go to Centro HQ. This may change with the new regs being proposed but only to the extent that one may have to give a 'reason' in future. It'll go something like:

Shareholder: "I'd like to view the CNP share register please."

Centro: "Huh, under the new regulations you have to give a good reason. What is your 'reason' oh pitiful, insignificant shareholder?"

Shareholder: "Because I'd like to make a $3bn offer to buy the entire company and I want to contact all the shareholders."

Centro: "Would you like Excel or PDF format and what's your email address.... sir?"

As an aside, you have to feel just a little bit sorry for Ms Kelly. Last year she had shares worth $9m at their peak, now worth $198k and a non-recourse share purchase loan with shares worth $5m, now worthless (shareholders have picked up the tab for this one). Overnight, she had just under $14m wiped of her net worth. I wonder if she and Andrew Scott still catch up for coffee?

If anyone knows how harsh a system capitalism can be, it's our PK.