Based on my previous calculations using conservative estimates,...

Based on my previous calculations using conservative estimates, I reckoned CSR normalised annual earnings from continuing operations (without Sucrogen) to be about $0.12 cents per share.

If an average Price/Earnings (P/E) ratio of 13 is acceptable, the share price is worth roughly $1.56. After the share consolidation (converting three shares into one), the price may be $4.68 (ie $1.56 x 3 ).

This value can be checked by referring to the Net Tangible Assets (NTA) per share.

In the notice to shareholders dated 7 January 2011, the company indicated the NTA per share to be $2.65 after consolidation. Over recent periods, CSR shares have traded on average around 1.7 times the NTA backing per share. On this basis, the consolidated shares may be worth about $4.50 (ie $2.65 x 1.7).

Using both these measures, it might be reasonable to expect a fair CSR share price to be somewhere between $4.50 to $4.68 after the consolidation.

Disclaimer
Please note that I am not providing valuations, advice, information, recommendations or predictions. The above statements are merely my own calculations, comments and thoughts as an ordinary shareholder without any special skills or knowledge. I absolutely disclaim any responsibility or liability whatsoever for any consequences arising from the use of my calculations, comments and thoughts expressed. If you require advice or information, you should seek the services of an appropriately qualified independent expert professional person as well as do your own proper and thorough research