What CNP shareholders need to see happen: 1. CNP must now be prepared to deal with key major assets on a one on one basis without retaining any management rights. 2. The board should be seeking alternative long term finance if the current banking syndicate can’t offer a suitable package. 3. Once gearing is at an acceptable level, the CNP board should use any spare funds to implement a share buyback, thus restoring CNP share price to may be a point where a new issue can be offered to existing shareholders rather than new outside shareholders. 4. CNP shareholders need to contact board members & let them know the situation is urgent & their failure to execute sufficient sales is making the situation worse. Contacting CNP investor relations is not going to get the message across. We need to name the directors & disclose how they can be contacted by phone, email or letter & explain why we are not happy. Perhaps when these directors start receiving 100’s of emails/letters from shareholders they may realize they have to act quickly. Let them know no positive outcomes by the Annual General Meeting in October, they will not have your support to remain on the board. 5. It is very easy to allow a few key posters do all the work & research regarding CNP, but remember we are a large group & if we all take positive steps to get our message across to management & in particular the board, may be there is still time to achieve a positive outcome for all shareholders. Regards Buffett PS On holidays & only limited internet access, so unable to participate in the thread as I would like.
CNP Price at posting:
0.0¢ Sentiment: None Disclosure: Held
