Because this new deal has probably been thrashed out with the dissenting major creditors I suggest that a yes vote will probably get up. At least it is a better deal than the last one. The downside is that the existing management and board of CNP have saved their skins and we are still stuck with them. Wait for them to start boasting about the great deal they engineered. I'll bet they will not accept the credit for all their blunders that got it to this point.
Another downside could occur when the lenders who now have equity in place of debt will be placing their holding on the market at some stage and that could lead to a volatile SP. That was bound to happen anyway.
There should be every reason now for the company to get back on track and restore the dividends that have been sadly lacking these last few years.
This saga seems to be going the way I had anticipated. I'll be looking for a spike in the SP to sell then trade the volatility that I suggest will follow to rebuild a "freeby" holding.
My sentiment is shown as "none" in the absence of "buy and sell, buy and sell"
CER Price at posting:
25.0¢ Sentiment: None Disclosure: Held
