Question
Halium company issued 400000 $100 6% convertible loan notes on April 1 2015. the company has issued 50m $1 ordinary shares. interest is payable annually
Halium company issued 400000 $100 6% convertible loan notes on April 1 2015. the company has issued 50m $1 ordinary shares. interest is payable annually in arrears on 31 march each year. the loan notes can be converted to equity shares on the basis of 20 shares for each $100 loan note on march 2018 or redeemed at par for cash on the same date. the debt component of the loan is $37,792m and a similar loan with no conversion right would be at 8% interest. the carrying amount for the loan as at 31 march 2016 is $38,415m with a finance cost of $3.023m. the company's tax rate is 20% and the earnings for the period is 14.327m.
calculate the diluted EPS for Halium company for the year ended 31 march 2016
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