more simple maths, page-8

All though 8c sounds like a dream.
The possibility exists.

At some stage CER has to do something with its earnings other then pay down debt.

This may be some time off but you also have the potential of higher rents and more of them in the future. Less interest paid on smaller ammounts of debt.

I'm sure CER will scrape every penny and be throwing it into their loans for the time being.

Cnp will want its share since it owns 51pc and will want as much dividend as possible.

I think CER will try and minimise it's taxable income for the time being till such point as the valuations rise dropping the LVR ratio on it's properties.

Also we don't know how this capital transaction will pan out.

Hopefully it is in the shareholders interest, And i'm not talking about 1 major share holder either.