The share capital of Gus Ltd on 30 June 2019 was:

Share capital:

200 000 A ordinary shares issued at $4.50, paid to $2.00

$400,000

100,000 B ordinary shares issued at $3, fully paid

$300,000

$700,000

16 Jan 2020

To assist with cashflow difficulties the company issued a prospectus inviting offers for 40 000 options to acquire A ordinary share at a issue price of $2 per option, payable in full on application.Each option exercisable on 31 Dec 2020 allowed the holder to acquire one A ordinary share for $3

31 Dec 2020

Offers were received for 35 000 options and these were duly allotted.

The holders of 30 000 options exercised their options and 30 000 A ordinary shares were allotted. The remaining options lapsed.