Alpha plc had an issued share capital of 2,000,000 ordinar y shares at 1 January 20X1. The nominal value was 25p and the market value £1 per share. On 31 March 20X1 the company made a rights issue of 1 for 4 at a price of 80p per share. The post-tax earnings were £4.5m and £5m for 20X0 and 20X1 respectively.

Required: (i) Calculate the basic earnings per share for 20X1.

(ii) Restate the basic earnings per share for 20X0.

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