From someone who doesn't hold CNP shares, but has considered...

From someone who doesn't hold CNP shares, but has considered picking some up over the last couple of weeks and has been watching the situation...

Obviously good news that the extension has been granted, but the real question is has anything changed? I would suggest that the market had already factored in an extension to most extent and the fact that there are complications, may well complicate the situation!

To me they have said 2 things:
1. They are still going to sell assets; and
2. They are going to have a capital raising to reduce debt at some stage.

None of these things are unexpected, so I do wonder how they will move the sahre price too much.

I don't think it is surprising that the only time the share price has really moved recently was due to take over rumours. The bottom line is that Centro still have the same issues and the share price may be majorly diluted in the not too distant future.

But hey I could be wrong and the share price might jump on open tomorrow!