According to the may interview with gr, possible calculations as...

According to the may interview with gr, possible calculations as an approx figure is listed below (dyor)

(a)$1.31 for assets(n.t.a) lets assume their is a 15% decline
for full year results... approx now = $1.11

(b)$3 billion = services business according to G.R..remember outside valuation done by KPMG, in early 2007 or late 2006 = $5.5 billion but will stick with a safer option $2.5 billion... divide by shares outstanding = $2.95

(c)then comes the intangible number according to G.R = $1.7 billion round it off to 1.5 billion on safer side divide by shares outstanding = $1.77



a+b+c = $5.83


now $5.83 - minus current debt =

A valuation of approx $1.22 - $1.82( Depending on calculation of debt exposure to an acceptable level)

Please note this is only approx and possible method of calculation ...

Their are many ways to calculate what cnp is worth this is just one. Each of my calculations/methods are pritty much over $1 and it seems like G.R is a bit more than that...

All in all the methods and formulas used still gives me a considerable margin of safety...

Cheers...