Unfortunately, the board are seeking to save CNP and their jobs.
They should, and an true "independent" adviser should, pose all situations.
CER owns buildings.
We own CER shares and hence buildings.
CNP owns CER shares and hence buildings.
I fail to see that if I get into trouble and can't pay my debts, sign my CER shares across to the person I owe money to would affect CNP or any other CER holders.
So CNP signs all their CER shares across to their lenders.
Now it's just us small shareholders and banks that own CER and hence buildings.
If the banks want to sell out then fair enough. Maybe sell their holdings to Westfield or the like. Then Westfield rebrand all Centro to Westfield and Westfield manages the centres.
My shares each earn 15 cents ps per year now. Why would I want to lose 85% of my shares in a 1 for 6 swap to earn the same 15 cents ps per year?
1,000,000 @ 15c = $150,000
or
166,000 @ 15c = $24,900
Have I got it wrong? If so please correct me.
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