RE:Record Date and Effective DateThis should help:
The distribution to shareholders will be made in accordance with the “due bill” trading procedures mandated by the TSX Venture Exchange for large dividends and distributions. The purpose is to result in traded shares carrying the value of the $0.40 distribution until it is paid.
A due bill will notionally represent the $0.40 distribution that a holder of a Pan Orient share is entitled to receive. A due bill will attach to each share traded, from the trading day before the record date for the distribution until the date on which the distribution is paid. During this due bill trading period, the shares will trade on a “due bills basis”. A seller of shares (who is prospectively entitled to the $0.40 distribution) will also sell to the purchaser the entitlement to the distribution (which is represented by the due bill attached to each share sold).
Key dates are:
- The record date to determine shareholders entitled to receive the distribution will be February 2, 2022
- Due bill trading will commence on February 1, 2022 (one trading day before the record date, so that trades settling after the record date have due bills attached)
- The effective date of the reorganization and payment date for the distribution will be February 10, 2022
- The ex-distribution date will be February 11, 2022 (the trading day after the payment date, so that trades on and after that date will not have due bills attached)