Topwon you're on the right track.At 5.2c you also have to...

Topwon you're on the right track.

At 5.2c you also have to notionally dilute for in the money options.

So how many options have an exercise price at 5c or less?

You then subtract the gross cash proceeds (maybe even multiplied by 0.94 to 0.95 to allow for u/w or exercise costs) for the notional option exercise from the the market value, the market value is the Ordinary shares on issue (as per the latest Appendix 3B) multiplied by the current share price, this overall calculation is called adjusted or fully diluted market value.

This is the number that you need to consider.

What number do you get?

cheers

PS...in the next lesson we can take you through coming to a value for the numerator (which is the NPV of KSX)...you then divide the numerator by the denominator.