Post by
arbatnew on Feb 22, 2021 2:25pm
Last day to buy to participate in spinout?
Maybe a stupid question, but as in the news release "(the "Arrangement") with Stinger Resources Inc. ("Stinger") is expected to occur at 12:01 a.m. on February 25, 2021 (the "Effective Date"). Pursuant to the arrangement, holders of common shares of American Creek as of the close of business on February 24, 2021 will receive one new common share of American Creek (each, an "American Creek Share") and 0.11324 of a Stinger common share (each, a "Stinger Share"). In this case at what point are you deemed a 'holder'? If you bought on the 24th would you qualify? Many thanks
Comment by
arbatnew on Feb 23, 2021 3:41am
Bumping my question here, maybe I will be more soecific.....is this treated similar to an ex-dividend situation OR if you were to purchase shares in AMK on the 24th do you still qualify to participate in the split and the seller would not? Thanks
Comment by
arbatnew on Feb 23, 2021 7:45am
Many thanks for your response, and for clarification at what point is one considered to be a "holder" - my understanding is it takes 2 business days to be deemed the holder, so at this point it is too late to buy and participate in the spinout......correct? And again much appreciated!
Comment by
arbatnew on Feb 23, 2021 9:38am
Your clarification of the question is very much appreciated! Thanks very much, looking forward to the story going forward here.