trading ex rights tomorrow, page-6

I figure that the diluted shares should trade at 83c based on the close of 95c, all things being equal. I think that means the rights should trade at 83c less 53 exercise = 30c roughly. Anybody have any calculations to support.
Wouldn't mind knowing if any extreme buy or sell opportunities arise tomorrow on either the shares or the rights.
I simplistically worked it out on a parcel of 100 shares:
Today 100 shares @ 95c worth $95.
Tomorrow 100 shares @95c = $95.00
Plus 40 rights to pay 53c = $21.00
Total of 140 shares = $116.00 or 83c each approx.
Is that the right approach or do I need to go back to kindergarten before I do my wobbly bits??
Appreciate some confirmation because I think there will be some weeird prices tomorrow.