CNP 0.00% 4.0¢ cnpr group

lack of information

  1. 3,298 Posts.
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    Whilst I will treat today's announcement as positive, it certainty lacks a lot of information. Bit hard to say contract price is at 10% of previous book value when no figures are supplied for the 2 remaining properties.
    Pity CNP didn't set out book value of assets in portfolio then show book values for Independence Mall & Elk Park Centre. These figures were not supplied in half year supplementary information either. But we can derive from last half year Report that Independence Mall was 90 % leased with ABR (Annual Base Rent) of $9,305,448 & Elk Park Centre was 95% leased with $1,976,839 ABR. Quoting a 10% discount with no explaination is poor reporting, given we can only guess the values of the 2 remianing centres. How hard is it to list all 31 properties with book values in today's announcement?
    Comments in Report like..." there can be no assurance that the transaction will be consummated . Settlement is scheduled to occur in late September to October 2008", leave one wondering what is in the agreement.
    Is the buyer signing an uconditional agreement regarding finance or is this agreement subject to finance being obtained? An unconditional contract regarding finance would certainly be a more positive comment on agreement, given finance problems worldwide.
    Sorry to say while we would all hope that this announcement is positive there are many unexplained parts to this announcement.
    Regards
    Buffett
    PS No investment advice given, please do your own research.
 
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