Lonmin Plc – Annual report – 30 September 2016
8 Loss per share (extract)
Loss per share (LPS) has been calculated on the loss attributable to equity shareholders amounting to $342 million (2015 – $1,661 million) using a weighted average number of 249,656,150 ordinary shares in issue (2015 – 48,319,119 ordinary shares).
During November 2015 the Group undertook a capital raising by way of a Rights Issue. As a result the LPS figures have been adjusted retrospectively as required by IAS 33 – Earnings Per Share. On 20 November 2015, 26,997,717,400 ordinary shares were issued with 46 new ordinary shares issued for every existing ordinary share held. For the calculation of the LPS, the number of shares held prior to 20 November 2015 has been adjusted by a factor of 0.08 to reflect the bonus element of the Rights Issue.
Diluted loss per share is based on the weighted average number of ordinary shares in issue adjusted by dilutive outstanding share options in accordance with IAS 33 – Earnings Per Share. As at 30 September 2016 outstanding share options were anti-dilutive and so were excluded from diluted loss per share.