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December 2008 a I can’t find the number of existing shares in the question. It says it’s 4,000,000
You don’t actually need to know the number of existing shares, although you can calculate how many there must be.
The rights issue is at 2.50 less 20% = $2 per share. They are raising $5M and therefore must be issuing $5M/$2 = 2.5M shares.
It is a 1 for 4 rights issue and there the current number of shares in issue must be 4 x 2.5M = 10M.
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