| A | B | C | D | E | F | G | H | |
|---|---|---|---|---|---|---|---|---|
1 | Existing Shares, Y | 5,000 | ||||||
2 | Ratio | New Shares | ||||||
3 | Bonus ratio, B | 3 | new for | 10 | 0.3000 | 1,500 | ||
4 | Rights ratio, X | 2 | new for | 10 | 0.2000 | 1,000 | ||
5 | Warrant ratio, W | 0 | new for | 1 | 0.0000 | - | ||
6 | 2,500 | |||||||
7 | ||||||||
8 | ||||||||
9 | Cum Price, P | 3.950 | ||||||
10 | Subscription price of Rights, Z | 1.800 | ||||||
11 | Warrant conversion price, K | 0.000 | ||||||
12 | ||||||||
13 | ||||||||
14 | Adjusted Price, Pa= (P*Y+X*Y*Z+W*X*Y*K)/(Y+X*Y+Y*B+X*Y*W) | |||||||
15 | ||||||||
16 | Adjusted Price, Pa | = (3.95 * 5000 + 0.2 * 5000 * 1.8 + 0 * 0.2 * 5000 * 0)/(5000 + 0.2 * 5000 + 5000 * 0.3 + 0.2 * 5000 * 0) | ||||||
17 | Adjusted Price, Pa | 2.873 | ||||||
18 | ||||||||
19 | Fair Value of Rights, R = Ex-Price – Subscription Price = Pa - Z | |||||||
20 | ||||||||
21 | Fair Value of Rights, R | = 2.874 - 1.8 | ||||||
22 | Fair Value of Rights, R | 1.073 | ||||||
23 |