Chart - Z1P, page-148

When you sell at a profit you create a CGT tax liability.
If you have a few losses, then it doesn't matter.

Example of selling into the announcement:

Sell 1000 Z1P at market (say) $10 = $10,000 Gross
Z1P drops to $8. Trust me it will be shorted.
$10,000 divided by $8 = 1250 shares
You now have a 25% gain for the next leg-up.

This strategy is for the quick & nimble.

Or sell a few dog-stocks that are not performing, and buy into the dip.
The beauty of waiting for the announcement is that you know certainty.
And the analysts will start to do their new valuations.

But always remember:
Bulls can make money,
Bears can make money,
But Pigs always get slaughtered.

Safe trading.