On 1 January 2020 Rain plc had 35,000,000 ordinary shares in issue. During the year ended 31 December 2020, the following potential ordinary shares were outstanding: • Share options have been granted to executives giving them the right to subscribe for ordinary shares between 2024 and 2026 at €1.20 per share. The number of options outstanding at 31 December 2020 was 2,200,000 in number. • There are €6,600,000 (€1 nominal value) 4 % convertible preference shares in issue. Every 2 convertible preference shares are convertible into 1 ordinary shares in 2023, and • There is €20,000,000 of 6% convertible bonds in issue. Each €1,000 convertible bond is convertible into 30 ordinary shares. Rain plc pays corporation tax at 30%. Rain plc has profit attributable to ordinary shareholders of €18,160,000 for ended 31 December 2020. The fair value of one ordinary share was €1.50 throughout the year ended 31 December 2020. Required Calculate the diluted EPS of Rain plc for the year ended 31 December 2020 in accordance with IAS 33, Earnings per Share.
On 1 January 2020 Rain plc had 35,000,000 ordinary shares in issue. During the year ended 31 December 2020, the following potential ordinary shares were outstanding:
• Share options have been granted to executives giving them the right to subscribe for ordinary shares between 2024 and 2026 at €1.20 per share. The number of options outstanding at 31 December 2020 was 2,200,000 in number.
• There are €6,600,000 (€1 nominal value) 4 % convertible
• There is €20,000,000 of 6% convertible bonds in issue. Each €1,000 convertible bond is convertible into 30 ordinary shares.
Rain plc pays corporation tax at 30%. Rain plc has profit attributable to ordinary shareholders of €18,160,000 for ended 31 December 2020. The fair value of one ordinary share was €1.50 throughout the year ended 31 December 2020.
Required
Calculate the diluted EPS of Rain plc for the year ended 31 December 2020 in accordance with IAS 33, Earnings per Share.
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