initial comments, page-3

Coppertop 137,
I believe your post is a good summary of the current situation. Does this group really think they will gain the support of large institutions/Orbis without some real proof this Chinese Bank will takeover funding? Having discussions is simply not enough proof.
Whilst many small shareholders may be excited by having an alternative group of directors, in reality large shareholders are going to support the status quo unless more proof of alternative funding is provided.
The ASX announcement hardly reads as a professional document i.e. very limited details on alternative director qualifications & refinancing arrangements.
Current refinancing proposals by banks is based on the way current directors & CNP senior management have handed the situation so far, current banks could easily withdraw their support if a newly elected group of directors tried to change the existing arranghements.
This ASX announcement mainly affects CNP but CER is indirectly affected by CNP being the RE for CER.
CNP shareholders will have to decide whether this proposal is a lot more real & an alternative than initially shown in ASX announcement.
As a non shareholder, I don't have a vote but it would take a lot more than the ASX announcement currently received to gain my support & vote.
Regards
Buffett