Ann: Becoming a substantial holder , page-6

Another article in AFR page 23 today, mainly referring to CNP. There was small mention on CER as well.

"A small game is being played out over at sister stock Centro Retail, where some enterprising hedge funds have taken up positions in the equity. That looks like a safer bet - for an event driven opportunist, that is. There, too, there may be some arbitrage to be gained in positioning to block the restructure. Whether or not that ploy pays off there is still plenty of inherent albeit risky, upside in Centro Retail stock, which is trading at a bug discount to its net asset value"

Which mean we CER shareholders are in the same boat, we know that there is risk in CER but there is still upside in CER which is currently trading at 17% to its NTA. Truely why the hedge funds would take up position unless they know from their own analysis whether implementation of the agreement on the restruction took place or not, there is still potential SP revaluation to the upside.

Looking at today trade approx 5 millions shares Xtrade at 0.335. OBV still on the accumulation which has started since Feb 2011.