BPP-Question 71 MLIMA CO (jun 13)

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September 10, 2018 at 5:29 am #472479
Saimon
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Sir can you explain me the following questions. I cannot understand and find any logic in the answer written in the exam kit.

Requirement :

Exam kit “a (iii)”
September 10, 2018 at 7:25 am #472489
John Moffat
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The holders of the bonds are to be given 10% x 100M = 10M shares, to replace their bonds.

Given that the total value of the bonds is $56.8M, then they will want to receive shares worth at least $56.8M, which means each share will have to be worth $56.8/10 = $5.68.
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