CGT – Shares

Hi,

Example: Ben bought 200,000 ordinary shares in XYZ plc, for £120,000 and gifts his wife 25,000 shares, at the time of gift,the MV is £2. He also gifts his daughter 15,000 shares, the MV is also £2 at that time.

I understand the MV is used for consideration because they are connected persons, but when calculating the cost of the 15,000 shares gifted to daughter, would that be (15,000/200,000) x £120,000 or (15,000/175,000) x £120,000?

Thanks.