Acompany wishes to make a rights issue to its existing shareholders. The rights issue is a 2 for 5 rights issue at a price of £1.20 per share. The par value of each share is £1 and the shares trade in the market at a price of £2.50 each. How much profit would you make if you are an existing investor holding 5 shares and you exercise your right to buy new shares but you also immediately sell those new shares in the market?