pennies, page-9

Aras,

There are two bottom lines. Swap happy for you to chastise me if you feel I'm speaking on your behalf.

The first bottom line is a figurative one: You will have certainty of your investment (just about) if a debt to equity swap goes ahead and is fair. Or even somewhat fair. Your "spec" investment (if that's what it was) becomes a long-term, effectively blue chip investment again with dividends on the horizon. A while away but on the horizon nonetheless. You also have an exit strategy at a price that's higher than five cents.

The second bottom line is the literal one: (jump in swap if necessary). Where CNP actually price points after this Debt/Equity swap is anyones guess and Swap (the person) didn't say because no-one knows. What you can estimate is that "Ceteris Parabis" it should at least trade around NTA but maybe at a discount due to market conditions. It's priced at 5 cents because of the EXTREME RISK and UNCERTAINTY. The debt/equity swap removes this and also removes any speculation that the banks are villainous towards our beloved Centro.

Long-Long-Term (add two more longs) when the global market is out of the toilet, CNP, if it's still around, and every other stock will likely trade above NTA.

Remember I said your investment in CNP is practically not an investment.....it's a December 15 Call Option. Like all Options that approach expiry it's price is undergoing time decay. I said early this week CNP would test 4 cents. It did. It will likely test 3 cents soon too. It's not about value. It's now about probabilities until we have facts upon which we can effectively value the company going forward.

Cheers.