kindly assist and provide detailed explainations

Madison is an all equity publicly limited company that has 800,000 ordinary shares of ksh 2 par value currently trading at Ksh 50 in stock exchange. The company has a proposed project that that need funding amounting to ksh 24,000,000. Assuming a perfect market free of floatation cost, the company has decided to raise the required amount through rights offering. The total number of shares that will be offered will 600,000 . Johnstone holds 40,000 shares in the firm and ksh 1,200,000 in his bank account. Required. 1. Define a right issue 2. Explain why a company may decided to have a right issue / offering 3. Compute theoretical ex-rights price of share 4. Compute the value of right 5. Discussion options available to shareholders who have been offered right 6. Based on your answer above (Q4), advise Johnstone what he should do