Thanks again to all the usual suspects for keeping folk like me...

Thanks again to all the usual suspects for keeping folk like me up to date :)

I've received my letter and joined CNPSA.

I've held my shares because, in a real world one could expect a company that can pay it's interest obligations and still make money, to come good. Therefore, I took a long term view that dividends would be forthcoming.

I'm not impressed by this Hybrid Security option and will vote against it. It benefits the banks (with no justification). This situation has only occurred because of the current Global Financial crisis. There are many CNP holders in the position of holding a Capital Loss, therefore, voting the company into administration IS an option for people (like me) who work full time and can benefit from an unequivocal capital loss for tax purposes.

However, I would prefer to see the outcome that I originally envisaged :)

cheers L :-)