From my understanding, the company declares the record date and...

From my understanding, the company declares the record date and then the ASX sets the ex-entitlements date.

Ex = Without

So any stock bought on or after the ex date, will miss out on the entitlement.

Although the ASX was open on Monday, it was a public holiday in some states and there was no settlement. So between the Ex-entitlements date and Record date, there were three non-settlement days.