Well if you can believe the rumours of offers around 90 cents to $1 being put forward you can understand them being considered opportunistic if the company believes their asset backing is $1.31 NOT including the contracts management and services business.......which seems to be a cashcow itself.
Which fortunately enough also seems to be the glue that is holding the group together being the way the contracts are written on the services business aspect of the organisation.
I would think/hope that any further bids put forward now would not be of the low ball type given GR's comments on the extension providing time as well as stability to focus on realising a truer value of any of the underlying assets being considered for disposal and subsequent debt reduction.
I think at the very least it puts an ace back into his hand when any offers put forward previously probably only thought he had a pair of twos...
Centro have some good assets that they can now dispose of in a much more orderly fashion, and this extension now highlights to any prospective buyers that although they may be offered up at a slight discount, they are not likely to be flogged off at the last minute in a panic at rediculous prices in an effort to avoid the A word.
They appear to be sticking to their game plan and not panicking anywhere near as much as some of the people on here.....lol
CNP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
