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Centro Shareholder Class Action

Settlement of Centro Shareholder Class Action

Settlement Approved

We are pleased to announce that, on 19 June 2012, the Federal Court of Australia (the Court) approved the proposed settlement of the Centro Shareholder Class Actions.

The Court further ordered that Slater and Gordon administer the settlement in accordance with the Settlement Distribution Scheme (the Scheme).

Under the terms of the Scheme, we are required to confirm each group member’s trading data in CNP and/or CER securities during the period 7 August 2007 to 14 January 2008 (inclusive) (the Potential Loss Period).

In mid-July 2012, we will send each group member a letter including:

  1. a schedule of the trading data we have recorded on their file; and
  2. a Request for Review Form.

If you believe that the trading data schedule is incorrect or incomplete, you will have 14 days to send us the Request for Review Form and supporting documentation (e.g. contract notes) confirming each transaction during the Potential Loss Period.

If the trading data schedule is accurate, you will not be required to do anything further.

In order to ensure that you are ready and able to participate in this process, we request that you immediately take steps to locate the contract notes (or confirmations of trade) for each buy or sell during the Potential Loss Period. 

However, please do not send us any material until you have received and reviewed our next letter. We will not have an opportunity to update your records in advance of the process outlined above. Further, receiving unsolicited correspondence is likely to increase costs unnecessarily and result in delays to the final distribution.

In our next letter, we will provide you with detailed information about the settlement administration process. We confirm that, assuming that unnecessary delays can be avoided, that we intend to make a final distribution to group members no later than 31 January 2013.

Registrations are closed

We confirm that registrations for the Centro Class Actions are closed and that no new group members may be added.

To register for the Centro Class Actions eligible shareholders were required to return a completed Option B Group Member Registration Form to Slater and Gordon by 4:00 pm on 27 February 2009. The Federal Court extended this deadline to 5:30pm on 3 March 2009, for the principal purpose of including forms posted before the deadline, but not received by Slater and Gordon until after the deadline.

If you did not take any action, by orders of the Federal Court on 17 December 2008, you are now prevented from making any claim against the Centro entities in relation to the allegations made in Centro proceeding.

Enquiries

For enquiries and further information, please contact us by phoning us on 03 9602 8689 / 03 9602 6802 or sending an email to centro@slatergordon.com.au