Meloy Company Ltd. has 30,000 9 par value ordinary shares outstanding when it announces a 3-for-1 share

Question:

Meloy Company Ltd. has 30,000 £9 ordinary shares outstanding when it announces a 3-for-1 share split. Before the split, the shares had a market price of £120 per share. After the split, how many shares will be outstanding? What will be the approximate market price per share?
Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...