where is the turnaround on this, page-5

My opinion, which is not investment advice, is that anyone who still has a holding should wait a bit longer. You need to consider your own situation in deciding though.

There is a huge information vacuum created by the lack of disclosure coming from the company itself. It has been said over and over that Centro are good at managing shopping centres, but woeful at managing PR.

To their credit, they have made some remarkable achievements to date but they have not moved on the front foot with communication. This has led the market to listen to speculation from other sources such as the media, who have a vested interest in their newspaper circulation statistics and not investor confidence.

From day 1, the company announced a 3 prong strategy: sale of CAF, CAWF and equity injection. They have stuck to this despite everything. No fire sales of assets, no panic. Less than a month ago, when the debt extension was announced, the company gave us a brief update on all 3 items which suggested a lot of progress had been made. This was overlooked by the market who focused on litigation or whatever other negative spin could be put on the situation.

I now genuinely think we are going to see something very, very soon. We are owed an update on CAF either today or tomorrow and all indications are that CAWF and some properties have or are about to be sold.

Remember it was less than a month ago that Centro announced it had extended $6.6bn of debt. Like it or not, when you are turning an organisation of this size around, things take time.

If Centro are getting the message (and believe me they have heard it enough recently) that a major update is required and they oblige by giving us a comprehensive run down on what is happening, then the short-term traders will probably get their wish of a SP increase and the long-term investors will get some confidence in the outlook.

If this doesn't happen soon, then I think we will all have a reason to be upset.

I would urge you to go back to the reasons why you invested in Centro in the first place, look at what has been achieved by the company so far (the FACTS, not the speculation) and then ask yourself whether anything has actually changed to cause you to want to leave now.