At 1 January, Aubrac SA has 1,000,000 units ordinary shares outstanding. On 1 April it issues 240,000 units shares for cash, received on that date: these shares are outstanding for 9 months of the year (weighting in months, an approximation of the day-based time factor adopted for the case). The profit attributable to ordinary equity holders for the year ended 31 December is 2,065,000 (in euros). Calculate the weighted average number of ordinary shares, then basic earnings per share. Round earnings per share to two decimals (case convention).
- Ordinary shares outstanding at 1 January
- 1,000,000
- Shares issued on 1 April
- 240,000
- Months outstanding of the shares issued
- 9
- Profit attributable to ordinary equity holders
- 2,065,000