article from crikey, page-20

Read the announcement 5 times. What I think ann states,

It's a good ann.

1. No fire sale of assets
2. Banks will be forced to extend else they lose.
3. Give enough time so that credit situation will improve & property value will improve
4. Offer equity to bank so that they never dream of liquidating the company.

It's a good move in current climate & also give lesson to opportunists who want to buy good shopping centres at cheap price.

What I think is even if shares are diluted by tree times, we still can hope to get 40/3= 13Cents dividend, which is 30% yield for most of us ( HC members probably bought CNP at an avg price of 40cents)