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Zorluk: ZorIssue of Shares at Par, Premium, and Discount

Koko Plc offered 100,000100,000 ordinary shares of ₦1.00\text{₦}1.00 each at a premium of 20%20\%. Payment terms per share were as follows:
- On application: ₦0.30\text{₦}0.30
- On allotment: ₦0.40\text{₦}0.40 (including the full premium)
- On first and final call: ₦0.50\text{₦}0.50

Applications were received for 120,000120,000 shares. The company allotted shares on a pro-rata basis to all applicants, with surplus application money applied towards the amount due on allotment. If all monies due on allotment were paid, what is the net cash amount (in Naira) received on allotment?

Cevap: 34000 Naira

Cevap

The net cash amount received on allotment is 34,000 Naira.
The gross amount due on allotment for 100,000 shares at ₦0.40 per share (inclusive of premium) is ₦40,000. Because 120,000 shares were applied for at ₦0.30 per share, the company received ₦36,000 initially. Since only ₦30,000 was needed for the 100,000 allotted shares, a surplus of ₦6,000 was transferred to the allotment account. Consequently, the net cash collected on allotment is ₦40,000 - ₦6,000 = ₦34,000.

Adım Adım Çözüm

1
Calculate total cash received on application
₦36,000
120,000 shares were applied for at ₦0.30 per share.
2
Calculate application money required for allotted shares
₦30,000
Only 100,000 shares were offered and allotted (100,000 × ₦0.30).
3
Determine surplus application money
₦6,000
Subtract required application money from cash received: ₦36,000 - ₦30,000.
4
Calculate total amount due on allotment
₦40,000
100,000 shares at ₦0.40 per share on allotment (including premium).
5
Calculate net cash received on allotment
₦34,000
Deduct surplus application money credited towards allotment: ₦40,000 - ₦6,000.

Anahtar Kavram

Issue of shares at a premium with oversubscription and pro-rata allotment set-off
Tahmini Süre:2m 0s
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Issue of Shares at Par, Premium, and Discount

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