LLL Demerger and Offer - Consolidated Thread, page-86

There is so much mis-information out there for something that is really very simple.

Firstly it only affects people that buy or sell around the 2 Record Dates May 5 & June 6

June 6 is the Record Date
June 3 is the Ex-in-specie distribution date
So June 2 is the last date you can buy

You have to own FFX shares on June 6 to be entitled to the free Leo shares.

When you buy shares they are settled on a T + 2 basis
You buy them on day 1 (T), they are settled 2 trading days later (+2)
So Buy on Monday they are settled on Wednesday which is when you own them, up until then the previous owner owns them

Same for selling
Sell on Friday (T) they settle 2 trading days later - On Tuesday
So on the Monday you still own them
In our case that is the Record date, even though you sold them on Friday, you still own them on Monday.

In any case, you don't have to go through all this, Firefinch have told us the latest date you can buy FFX and receive the in-specie distribution.
Cum means you get the distribution