RE:RE:This could get ugly, as peopleAton:
To all ... READ THE RELEASE :
TORONTO, Feb. 1, 2019 /CNW/ - CGX Energy Inc. (TSXV: OYL) ("CGX" or the "Corporation") announced today that it will be offering rights (each, a "Right") to holders of its common shares ( "Common Shares") at the close of business on the record date of February 11, 2019,
Read more at https://stockhouse.com/companies/bullboard?symbol=v.oyl&postid=29347273#gbe6IFCtXQmk7mV2.99
Perhaps you should read the news release and consider that in Canada it takes 2/3 days to register a share purchase/sale. Hence a stock goes x-dividend a couple of days before the dividend record date.
Thus, in my view, when a news release states the rights go to "
holders of its common shares ( "Common Shares") at the close of business on the record date of February 11, 2019".
It far from clear that if you buy today, you will be entitled to the rights, as my understanding is you will not be a registered owner of the shares for a couple of days. But if you are right, that explains why the stock has not dropped yet, and that everyone may rush to sell tomorrow. In any case, I am breaking no laws as the last thing I would ever consider doing would be buying shares of OYL today are anytime before the share price stabalizes in March after the cheap shares hit the market.