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The directors of Rex Ltd have to repay a loan in July 2020. They propose to make a rights issue on 1 May 2020 on

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The directors of Rex Ltd have to repay a loan in July 2020. They propose to make a rights issue on 1 May 2020 on the basis of one new share for every five shares in issue at a premium of 30p per share. The issued share capital of Rex Ltd at 30 April 2020 was: Ordinary share of 50p each 500,000 How much cash will be received from the rights issue assuming that it is fully subscribed

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