cnp agrees stabilisation plan with financiers, page-14

This is just another step into v/a unfortunately for holders. 90.1% of shareholder wealth is about to sold off to re-pay debt, potentially, very possibly, before the cleaners come. CNP will stay listed in the interim. Hybrid securities are primarily used to keep the wolf from the door. The new securities value the company at around 13c per share.

At least their demise, in their present form, is orderly and transparent. Creative accounting at best.

Get the hell out IMO on any spike - and luck to holders who bought at current prices.