Totaly agree HaijiIve said my bit on the CNP thread lately. Not...

Totaly agree Haiji

Ive said my bit on the CNP thread lately. Not going back there again!

When a company is effectively insolvent, and one could argue it is as its liabilities well and truly exceeds its assets, shareholders do not become the main priority.

Directors need to protect themselves and adhere to the corps act (s588 in particular, section on insolvent trading). Sorry but shareholders are truly at the bottom of the barrel. If there is substantial equity in the company and the transaction entered into was not commercial and destroyed shareholders' values, then shareholders would have every right to complain.

If anything, CER holders are the ones that every right to be infuriated for the directors entering into a transaction that wasnt in our best interest. The sale of SuperLLC for basically nothing was not in our interests.
The amount of potential NTA destroyed from our investment was quite material. SuperLLC should have been kept as a "wildcard" investment for CER as no further NTA could have possibly been written off.

Sorry, CNP holders have no right to complain. if you invest in a company that has negative equity, your expected return is zero. Anything extra is a bonus.

Cheers

P.S CNP has nothing to offer CER, so what they can offer to a merger with CER apart from the black plague, I have no idea!