"Yeah that 5.03c would be much better given to CER holders to say thanks for saving CNP!"
CNP was sold to many retirees as a stable and safe place to put their money by many useless, unqualified and unrepentant financial advisers. Who are now peddling some other company or product that delivers them some form of kickback.
Yes, they are responsible for their own decisions, but CNP and other large Property Trusts binged on debt and the management of the time and even now have blown away vast amounts of wealth with poor desions.
Their are a lot of people out there reading the news on Centro with a heavy heart and light pockets who would not be so cavalier in their reflection on recent events. 5.03c is a disgusting result by any standard and shameful stain on corporate Australia's history.
I got back in on CER about two weeks ago as I thought it undervalued. I hope the future holds boring structure with very stable earnings and conservative borrowing and growth.
No one wants a repeat of this mess.
CER Price at posting:
33.5¢ Sentiment: Hold Disclosure: Held
