1. 

   salj67 Member

   Where does 400000*6/5 come from?

    

   salj67, Feb 28, 2016

   #1
2. 

   Simon James ActEd Tutor Staff Member

   Hi
   Before the rights issue there were 400,000 shares issued. The rights issue is one for every 5, so where we had 5 shares we now have 6, so we need to scale up the 400,000 by 6/5.
   
   Alternatively we issued 400,000/5 = 80,000 new shares, giving a total of 480,000.

    

   Simon James, Feb 28, 2016

   #2

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