What this means for CER is that your position change much. ATM CER shareholder have 44c NTA and in return you get a 40c NTA in a much larger and supposedly derisked company. So, I guess you are supposedly paying a premium for the derisking.
The reason they might get away with this steal is Dec 11 debt refinancing is acting like a sword on our heads and volatile markets are not helping.
Personally, I am not happy with the offer but now I find its pragmatic to accept the offer considering my cost base is avg 13c I am still better off. For those that bought in higher its not that inticing.
CER Price at posting:
26.0¢ Sentiment: Hold Disclosure: Held
