"They should also have a share issue to reduce the debt and obliviate the majority shareholding of CNP."
There appears to be a lot of confusion (maybe its just me who is confused)about CNP's holding in CER. I looked at CNP's accounts but could not work it out.
So I called CNP today and was told that CNP owns 24% of CER directly and 44% indirectly. So technically, CNP is not a majority shareholder.
Unravelling the 44% looks like it could be complex whereas selling the 24% looks straightforward but at what price?
And if CER's value goes up (its sp is at a substantial discount to NTA) then does this not help CNP's negative equity situation? I also hold CNP so I'm hoping this is the case.
Starting to think I should have just bought CER instead of both CER and CNP. Time will tell.
CER Price at posting:
21.5¢ Sentiment: Buy Disclosure: Held
