Ann: Air NZ updates on capital raise timing and liquidity, page-251

I have the ex date clear in my mind now. My confusion came from:
- in the market announcement there was no mention of the ex date. But that announcement referred to attachments
- there is a Market Announcement doc. Which is different from the market announcement. And yes on page six is the appendix with the Ex date. It doesn't define what ex date is but makes it relevant to the waiver "The Ex Date is two business days following the announcement of the Rights Offer, in reliance on a waiver from NZX Listing Rule 4.17.6(a) granted by NZX Regulation on 30 March 2022. See www.nzx.com/companies/AIR/announcements". This doc also says dates subject to change and also says "record date for determining rights is 5 April". So I began relying on 5 April. (
- There is the Investor presentation doc. Ex date isn't mentioned here. But it says record date is 5 April (as an aside this is a 55 page doc that investors were given 2 days to plough through.
- The Crown Commitment letter - no mention of ex date there
- Corporate Action Notice. Has record date as 5 April and Ex date as 4 April. (No definition of ex date)
- Appendix 3B (Appendix referred to in the dox refer to letters - not numbers. So I didn't rely on this)
- And finally the Offer Document - which is the one I relied on for all the detail. All the definitions all the key dates. ,Here all it says is "the Ex Date for the Offer to be two Business Days following the announcement of the Offer." No other reference to an ex date or what it measn. There is a glossary but it doesnt define ex date. The glossary does define an "Eligible Shareholder" and the "Record Date". The mistake I made was I relied on the information in the Offer Document - I figure you really need to go throughout these things because this is where all the fine print tends to lurk. It is the doc that contains the "terms of the offer". And those terms say if I am a shareholder on the 5th I get rights.

Its all academic now. Dates have passed by. I remain a non holder. And I reckon both rights and head share are overvalued which is why I reckon its a sell.