On 1 July, Pontoise SA issues a bond convertible into 300,000 units ordinary shares. For the year ended 31 December, the profit attributable to ordinary equity holders is 2,445,000 (in euros) and the weighted average number of shares is 3,000,000 units. The bond's interest expense for the year, after tax, is 75,000. The bond is dilutive (case datum) and remains outstanding 6 months (weighting in months). Calculate the weighted conversion shares and then diluted earnings per share. Round earnings per share to two decimals (case convention).
- Profit attributable to ordinary equity holders
- 2,445,000
- Weighted average number of ordinary shares
- 3,000,000
- Interest expense for the year after tax
- 75,000
- Shares issued on conversion
- 300,000
- Months elapsed since issue
- 6