centro shareholders association ...

TP Note: In reflection I thought I had better start a new thread so the other post did not get lost in the system under the other heading. - Pie
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Ok Centronians - just got back from a meeting with the CSA.

I think the Group's main objectives are as follows:-

First and foremost to clarify the deal struck with the Banks as there seems to be some confusion ie; are the Banks 'double dipping' the debt AND the equity??? As Musky mentioned in the meeting it's a bit like Shakespear's 'Merchant of Venice' where the pound of flesh comes with the pint of blood.

They are very pro-Centro and they want to see the Company survive and prosper. They see it trading in the $5 range, subject to clarification of the deal with the Banks whereby the Banks do not get the 90%.

They want more transparency to Shareholders from Management.

They want to be assured of the deal; and if the deal was the best one that could have been struck at the time???

Can a better deal be struck some time in the future???

As a future Lobby Group.

They may look for a seat on the Board in order to protect and pursue the interests of Shareholders.

They will be looking for Sydney based volunteers to assist them with the running of the Association.

The Group is just starting out and their website will be up and running by the end of the week; and whilst they do have limited resources atm their offices were very nice!

They have held Centro for ~2 years and avg pps is impossible to say because different members of the Association would have different average prices. An indication was that it owes "some" more than $1.

In closing, they are not and will not be part of the legal action that closes next week as they consider (as do Musky and I) that this is at odds with Shareholder value.

Cheers, Pie (& Musky) :)