Day us, "If you are a shareholder at 7:00pm 2 Aug 2018 (record...

Day us,

"If you are a shareholder at 7:00pm 2 Aug 2018 (record date), you are entitled to buy company issued shares on a 1 for 9 basis at a price of $0.059 per share..."

This is a bit misleading for people that do not quite understand the terminology associated with these types of transactions.

To be entitled to the offer you needed to be holding your OEL shares on the 1st August (which means you needed to have bought them on the 30th July or earlier, and be still holding them through the T/H on 31/7 and 1/8).

On Thursday 2nd of Aug when trading resumed after the T/H was lifted, the shares traded EX-entitlement, ie without the entitlement to the 1 for 9 NRRI offer.

The record date is set for the purposes of knowing that all those who will be entitled will be recorded on the share register by then, ie after settlement takes place and the new owner is recorded to the books (and old owner removed, or parts thereof).  Used to be 3 days settlement, now changed to 2, from date of purchase.