Significant comments and events;1. After consultation with our...

Significant comments and events;

1. After consultation with our ‘lenders’ we have not accepted any offers

2. After 9 months of no substantial sales and many millions in advisors fees no significant sales have been produced, thus accepted by neither Centro nor its lenders.

3. Majority of property trust is Australia are trying to deleverage their balance sheets, they have NO ambitions to BUY new assets. They however, continue to market their own assets to reduce debt. The banks are more aware of this than both you and I.

Putting Centro into administration would see the banks lose billions in a market where companies are all trying to reduce their LVR’s, not increase it.

The market has been tested with assets close to book value price, with little interest. At fire sale prices the banks would be setting themselves up to lose billions.

They IMO need to continue to work through the current issue with Centro at least till market conditions improve, only then will Centro be on its last straw to make significant progress.