RE:Spinout QuestionHey Barney,
your comments,
Barney1111 - (3/6/2018 7:47:32 AM)
Spinout Question
I think the prior answer was incorrect. Shareholder only of Mar1 will vote and get FORK.
If u sell now,u keep FORK
If u buy now u do not qualify for FORK.
That is how I understand it,
Is clear in the press release.
Thx
Please read the questions again,
the response did not say if you buy after the record date you would qualify for fork shares. - If I sell BLOC today do I still get to vote on the FORK spinout ?
YES:
Empty voting occurs when a holder of the voting right attached to a share has reduced or eliminated its economic interest in that share.Selling Shares after the Record Date for Voting – It takes time to determine who is entitled to vote at the meeting. As a result, the record date is always set on a date significantly before the meeting date. A shareholder who sells shares between the record date and the meeting date generally will have a right to vote those shares even though the shareholder is no longer exposed to the economic consequences of their decision.
- If I sell BLOC today do I still get the FORK shares if the spinout is approved ?
NO:
What happens if I buy or sell stock between the Record Date and the Payable Date ? If you sell stock after the record date, but on or before the payable date ,you will owe the shares to be issued in the stock split to whomever you sell it. The brokerage community tracks these trades and will coordinate these adjustments through their depository agent.
You also commented - if u sell now,u keep FORK
In this case what would stop someone from buying a million shares before record date - then selling after record date and then recieving 2 million shares after the split with no capital invesment ?
Now that would be wonderful ! almost criminal ! 2 million shares I didn't even pay for ! Sorry Santa Claus is dead , nothing is free
The Fork Shares are still associated with the Bloc Shares...In order for a record holder to receive the additional shares, the record holder must hold the shares through the distribution date,
Me thinks we are over analyzing the concept - just hold your shares and reap the rewards.
T2R