Saeed made the following purchases of ordinary shares in Hyban plc:

Date No of shares Cost

£

24 August 1991 800 960 25 November 1996 1,200 1,440 26 February 2002 1,600 2,400 11 October 2011 400 800 In June 2018, the company made a 1 for 20 rights issue at £1.50 per share and Saeed took up the shares which he was offered.

Calculate the chargeable gain arising in November 2022, when Saeed sold 1,260 shares at

£3 each. Assume that no further shares were acquired within the following 30 days.