we are getting diluted into tomorrow by these idiots, yeah CP2 will love it as they already took a big haircut on the $0.55 raising.
still, its better paying stupid equity holders $0.02pa than paying 7% in interest on the debt isnt it. and luck these guys still have their big salaries and bonues as well hey.
i beleive CEU is a good long term investment but someone needs to be made accountable for the dodgy traffic projections, stupidity of not raising equity much earlier on, ie why not raise more at $0.55 than $0.33?
the one person that made big bucks out of this was Macquarie, they pulled fees out of everything, i for one will never ever invest in another infrastructure IPO or investment until it is producing cash flow. forget BrisCon or Rivercity, these are in a much worse position. I will never every invest in another macquarie investment ever again.
i suggest everyone e-mail these clowns and tell them that changes need to be made, ie clean out the current weak as water management. TCL raised capital early and its shareholders are laughing, what did the experts at CEU do? raised an unsustainable dividend and told the market how good the traffic projections were!!
where is ASIC, where is the ASX? why does macquarie still get fees from raising capital for a project they stuffed up from the start?
also, note that JHT has informed CEU they are suing for misleading statements about the traffic forecasts, i smell a class action, better call Slatter and Gordon!!!
CEU Price at posting:
37.3¢ Sentiment: LT Buy Disclosure: Held
