CNP 0.00% 4.0¢ cnpr group

new current debt

  1. 587 Posts.
    In the latest release from Centro there was a bit that went as follows (and no one had touched on):

    Centro announced on 15 January 2008 that it had initiated a review of the classification of its
    current and non-current debt in its audited 30 June 2007 accounts and that it considered
    that there was a prospect that the current liabilities expressed in those accounts may have
    been higher than previously reported. Centro has completed this review, and the historical
    position as at 30 June 2007 will be restated in Centro’s half year accounts in accordance
    with Accounting Standard AASB 101.
    Subject to the audit thereof, Centro expects an additional A$1,514,097,090 of interest
    bearing liabilities which were classified as non-current to be re-classified as current. This is
    in addition to the A$1,096,936,000 classified as current in the audited 30 June 2007
    accounts. The total debt of A$3,603,751,000 in the audited 30 June 2007 accounts was
    US$190 million (A$223.8 million) of the A$1,514,097,090 referenced above was refinanced
    on a long term basis between 30 June 2007 and the date of the financial report, and would
    appropriately have been the subject of a note to this effect in the accounts.

    What does this mean for the price on monday or looking forward?
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