LLL Demerger and Offer - Consolidated Thread, page-112

Fair questions mate. And I'm impressed you stumbled on a stock like this in your first month investing!

1) Yes you are eligible to receive the free shares which will be based on the size of your holding (and distributed to you) in early June.
1b) If you have a holding as of this Thursday, you will also have the option to participate in an additional offer, where you can buy close to 500 additional LLL shares at 70c, should you wish to and have $350 to spare.

2) I will personally be holding my current FFX allocation and most likely subscribing to the 70c offer as well. Myself (and I think I can safely say the vast majority of holders) will not be trying to play games around the record dates.

• Generally the share price would close high (say $1.30) and then open low (say 70c), and there won't be the opportunity to catch people slacking and sell after record above a dollar. i.e. timing it right is not really a viable strategy by design and ASX rules generally prevent this, at least in cases like this where there will be high volumes.