if you want to discuss something......

.....it might as well be this mysterious little paragraph from teh CER 2009 Annual Report. It is subject to open interpretation in my view. However, I am interested in the correct interpretation and as yet I do not know what that is. CEO's Report from Page 3:

"Lowering Leverage

While we were in compliance with all of our debt covenants
at 30 June 2009, property devaluations are putting
loan-to-value (LVR) covenants (primarily related to
Australian facilities) under pressure. Over time, a key
objective is to lower our LVR which is currently 76.8%.
We do not expect to reduce our debt to peer group levels
WITHOUT A CAPITAL TRANSACTION. Your Board and management
are reviewing many financing strategies including portfolio combinations and geographic segregation."