d. Sh.28,000,000 Step 1: Determine the number of shares in issue before the rights issue. On 1 January 2025, the company had ordinary share capital of Sh.80,000,000 comprising 8,000,000 ordinary shares of Sh.10 each. Number of shares in issue = $8,000,000$ shares. Step 2: Calculate the number of shares offered in the rights issue. The rights issue was 1 ordinary share for every 4 held. Number of shares offered = $\frac{\text{Number of shares in issue}}{4} \times 1$ Number of shares offered = $\frac{8,000,000}{4} = 2,000,000$ shares. Step 3: Calculate the cash proceeds from the rights issue. The rights issue was made at Sh.14 per share and was fully subscribed. Cash proceeds = Number of shares offered $\times$ Issue price per share Cash proceeds = $2,000,000 \text{ shares} \times \text{Sh.14/share}$ Cash proceeds = $\text{Sh.28,000,000}$ The cash proceeds raised from the rights issue on 1 April 2025 were Sh.28,000,000. The final answer is $\boxed{\text{Sh.28,000,000}}$. That's 2 down. 3 left today — send the next one.