CNP 0.00% 4.0¢ cnpr group

re: letter from centro capitalisation... Companies Announcement...

  1. 2,904 Posts.
    re: letter from centro capitalisation... Companies Announcement Office
    Australian Stock Exchange Limited
    10th Floor, 20 Bond Street
    Sydney NSW 2000


    Dear Sir
    In regards to the article on page 18 of the Australian Financial Review today, as previously
    announced, Centro Properties Group (Centro) is in discussions with a number of parties and lender
    groups in relation to the recapitalisation process. These discussions are continuing but remain
    incomplete. At this time, there is no certainty or assurance that these discussions will lead to a
    transaction, what form such transaction may take, or what value might arise out of a transaction, if
    any.
    There have been offers received for Centro’s interest in the Centro Australia Wholesale Fund
    (CAWF). The Group has reviewed the offers and is reconsidering the marketing strategy for this
    interest to achieve the most value. This may include selling the CAWF properties in smaller
    portfolios and/or individually.
    The Centro America Fund (CAF) process started later than the CAWF process and is ongoing with
    offers currently being considered.
    Discussions are also continuing with lenders on the extension of facilities beyond 30 April 2008.
    The Board will make decisions on its options in the best interests of shareholders and at the
    appropriate times and will inform the market accordingly.


 
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