do you really think GR and his team would have bothered to keep centro afloat in this environment,especially working all year, if their was no significant value remaining for shareholders...the way your describing the announcement,where shareholders are basically left with a mountain of debt and only 10% equity and not a hope in hell..i really don't believe they're that silly..they would have definitely handed back the keys..
dilution is NOT 90% yet, it's only 14.9%. the rest is conditional on shareholder approval at the time of conversion, which would only happen if there was significant upside to shareholders..
The details are still yet to be announced,however this is the basis of it, as confirmed through investor services today.
CNP Price at posting:
8.6¢ Sentiment: Hold Disclosure: Held
