Calculate the diluted EPS for Halium Company

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Question - Halium Company issued 400,000 $100 6% convertible loan notes on 1 April 2015. The company has in issue 50M $1 ordinary shares. Interest is payable annually in arrears on 31 March each year. The loan notes can be converted to equity shares on the basis of 20 shares for each $100 loan note on March 2018 or redeemed at par for cash on the same date. The debt component of the loan is $37,792M and a similar loan with no conversion right would be at 8% interest. The carrying amount for the loan as at 31 March 2016 is $38,415M with a finance cost of $3.023M. The company's tax rate is 20% and the earnings for the period is $14.327M.  

Required - Calculate the diluted EPS for Halium Company for the year ended 31st March 2016.

Reference no: EM132855089

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