QUESTION 3 25 MARKS Fox Limited is a rapidly growing telecommunications company incorporated on 1 January 2020. Below is the information regarding Its share capltal: - Authorised share capital: - 400000 ordinary shares of no par value. - 20000010% non-redeemable, non-cumulative preference shares of no par value. - Ordinary share capital: 100 ODO ordinary shares were issued in 2020 at N\$ 1.50 . - 170000 ordinary shares were issued on 30 June 2021 at N\$ 7.00 each. - 10000 ordinary shares were offered to existing shareholder at N5 6.00 each on 30 May 2022, when the market price was N5 9.00 each. All 10000 shares offered were taken up on this day. - On 30 November 2022, there was a capitalization Issue of 2 ordinary shares for every 5 ordinary shares in issue. - Preference share capltal: 50000 preference shares were Issued on 1 January 2020 at NS 2.00 each. Preference dlvidends are always declared and pald on 30 December of each year. - Additional Information - There are 15000 options Issued in 2020 , each of which allows the holder to acquire four ordinary shares at N\$ 5.00 per share. The options have already vested but will only explre in many years to come. 40008% convertible debentures were issued on 1 January 2022 for N5 10.00 each. The debentures are convertible on 31 December 2026 at the option of the debenture holders Into ordinary shares at a rate of 5 ordinary share for every debenture. - The average market price per ordinary share for 2021 and 2022 was N5 7.50. Fox LImited made a pront for the year ended 31 December 2022 of N5180 000 (2021: N5150 000). Requilred Prepare the eamings per share note In accordance with International Financlal Reporting Standards (IFRS) to be disclosed in Fox Limited's fnanclal statements for the year ended 31 December 2022 . (25)