Many thanx to the regular posters on cer for many many months and also to the new ones who continue to have faith in this baby(cer).
We have been saying this for many many weeks and some for months; that cer shareholders are blessed to have an opportunity to buy this stock under 10cents and also blessed knowing the difference between price and value in cer i.e. share price will eventually meet intrinsic value and at these levels cer is a "Screaming Buy"...
I mentioned a while back that if u could swap the same amount of cnp for cer you have done well.Some had that opportunity last week and probably missed out on the distressed selling which indicated a bottom for me.But you never know u might get another opportunity 2morrow.
Just wondering why Goldman Sachs advised clients to liquidate at ridiculous levels.cer was always in my view a better option than cnp value wise.But investors were more focused on what the old share price high's were rather than trying to value the company themselves and asking the question ? What are my shares worth?.....cer remain in the 200 index which is also a positive.
Their have been a few posters that had similar thoughts to mine and their methods were based on value and not old share price highs.cer is way undervalued and knowing the possibility of dividends in the short to medium term one must favour cer for both dividends and no dilution factor when comparing to cnp and when cer declares a dividend cnp can use this to service their debt.
Even though cnp shareholders received a good result, it seems our deal has been much more favourable but keep in mind that there wasn't that many options on the plate for cnp holders and under the circumstances should be greatful for the 2 and 3 year extensions as apposed to voluntary administration but even that wouldn't make sense.I always believed both companies more so cer would survive but i guess the newspapers fooled alot of investors with their ridiculous articles saying that centro will die e.t.c. e.t.c..Imagine 700 + malls on the market for sale.Stupid!!! and this is the reason the banks want to stick with centro as these malls are of considerable value and so is the interest on them.
The announcement tonight will also be a positive for future asset sales as potential buyers won't take advantage of centro's position knowing that centro now have the backing of the banks,which to me indicates better offers for shopping malls in the future by potential buyers.
goodluck to all cer holders
and may
God bless cer and may cnp get back to normal health soon.
P.S How have u been cmwilson haven't heard from you in ages you are one of the old skool fish...would luv to hear your thoughts.
CER Price at posting:
6.1¢ Sentiment: LT Buy Disclosure: Held