Ann: CER - Restructure and recapitalisation updat, page-6

re: Ann: CER - Restructure and recapitalisati... Yes CER uses in interest of security holders i.e shareholders in their statement.

At the point of the last of bunch of hedges been closed off this (going by the announcement) this would of increased NTA by just under 10c. However, The statement had taken in devaluations of the properties in Australia dollars in to account which is why the suggested increase of 5c to 30/6.
So at the point of the last hedge been closed of CER's would of been 38cents.
This however, Does not take into account that the dollar has risen since then and NTA would probably be a tad higher with hedges.

It also doesnt take into account the earnings or any property re evaluations.

If the dollar was to drop back to the point of when the last bunch of hedges were closed off with out closing any more hedges of then we could have an NTA of around 38c excluding any earnings and re evaluations.

Generally CER makes around 8c per share a year. A lot more in the past.
Conservitaly we can suggest that it will make 3.5c for the 6months ending december this year.

so 41.5c.

This in itself would reduce leverage.
Any sales of properties at Book value will not increase NTA, It will however reduce our leverage with the banks as any residual monies would be used to pay down other portions of debt.

I am hoping this is a slow process as the share price will chase NTA as LVR decreases.

Please do your own research as I am guessing most of this.