CNP 0.00% 4.0¢ cnpr group

1 to 3 years extension is possible

  1. 177 Posts.
    I was going through some past news about centro and found this - http://www.themercury.com.au/article/2008/10/17/33625_real-estate-news.html

    Quoted from the article:

    Centro chief executive Glenn Rufrano said the company would now look for a longer-term extension to give it time to restructure.

    "We haven't defined it yet with the banks," he said.

    "Three or six months, which we've had to now, is not long term. If I was going to put brackets around it, it would be one to three years."

    Maybe this is what GR is working towards to...Also, i am thinking about the fact that head of Deloitte Australia Rob Wylie joined Centro board recently. He definitely knows what he's walking into. If centro is likely going to admin, i am sure he's wise enough not to accept the job. IMO, the extension will most likely be given, but just a matter of how long and how the debt/equity swap deal is negotiated with the banks will decide how far the share price may go up to.
 
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