I have written to Centro Investor Services seeking...

I have written to Centro Investor Services seeking clarification.

This close to the results, I doubt they will be able to give too many details but there is no harm trying.

Extract below:

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.....[I] was wondering if you are able to assist with a couple of questions I have regarding the accounting treatment of certain items.

I notice from the DPF and DPFI half year results that the net asset values of the funds have dropped $113m and $247m respectively since the end of year accounts. The report notes that this is due, in part, to the reduced valuation of their investment in CRIT / CER.

1. With CNP having 51% and 67% share in DPF and DPFI respectively, can we expect a half-yearly write down of this equity accounted holding? If so, can we assume the write down will be in excess of $200m, being the sum of 51% of $113 and 67% of $247?
2. Does CNP have any other exposure to CRIT or CER, either directly or indirectly, which you anticipate will have to be written down in the half yearly report? If so, can you give guidance as to what this is and the amounts involved?
3. In regard to the interest-free, non recourse loans available to senior staff and directors for the purchase of shares, can we expect a one-off write down on the value of these loans or have they been fully expensed already?

Thanks in advance for your response.

Regards,

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