Oxford Biomedica plc – Annual report – 31 December 2018
9. Basic earnings/(loss) and diluted earnings per ordinary share
The basic earnings/(loss) per share of 11.57p (2017: 14.50p loss) has been calculated by dividing the earnings/(loss) for the period by the weighted average number of shares in issue during the year ended 31 December 2018 (65,188,414; 2017: 61,913,343 adjusted for share consolidation (note 23)).
The diluted earnings per share of 10.89p has been calculated by dividing the earnings for the period by the weighted average number of shares in issue during the period after adjusting for the dilutive effect of the share options and warrants outstanding at 31 December 2018 (69,242,901).
There were no potentially dilutive options in the prior period. There is therefore no difference between the basic loss per ordinary share and the diluted loss per ordinary share in the prior period.
23. Ordinary share capital
In March 2018 the Company raised £20.5 million gross proceeds by way of a placing of 174,346,817 ordinary shares at a price of 11.7 pence per share. Net proceeds after expenses were £19.1 million. On 30 May 2018, Oxford Biomedica consolidated its existing ordinary shares of 1 pence each to 65,701,073 new consolidated ordinary shares of 50 pence each.