And for the CEG spin on the situation read their announcement from 1:10 pm.
Clearly CEG does not need to sell the properties.
It looks like the large holders, CBA and 452 capital are continuing to dump their holdings, driving the price down. I did some calculations to see how much more they may have to go. Before the quarterly report, CBA held 5.4m and 452Cap held 4.9m, a total of 10.3m . They each reported sales of 1.5m soon after the half year report, reducing their total holdings to 7.3m and showing they accounted for the majority of the sales after the half year report. Since the half year report there has been a total of 13.5m shares traded. No other significant holders have reported any sales. Thus I expect the high volume selling will soon come to an end.
The end of the dumpers and confidence in their financial future should see the share price recover significantly.
CEG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held