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Hello sir,
From june 2015 paper there is a part in question 4, about the nominal value of loan note redeemed which is calculated as $10.92 m*100/109.2, it’s not clear to me where did this figure 10.92 m come out as we only know the redemption price $109.2 ?
please helpmany thanks
The money to redeem the loan notes is coming from the cash raised from the rights issue (less the issue costs), and that is $10.92M (the workings for it are shown earlier in the answer).
thank you and sorry about that, these last days seem very exhausting to be attentive enough
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