my understanding is that no matter what the valuation of P1, GCN holders will get shares with a face value of 30c, translating to 3.9c value for each GCN share held. add a nominal 1.5c value to GCN in itself, and GCN should be valued at about 5.5c until the 10th before going ex-entitlement.
if P1 is given a higher value, it just means more shares issued.. if less, less shares.. but regardless - the value to GCN holders remains unchanged.
and to have shares registered in your name, one would have to buy them latest by Wednesday the 5th - so they are settled by Monday, 10th and are in your name. Not sure about this last bit. Please correct if my understanding is wrong.
All in all, if punters buy the value proposition, then we should see a scramble for shares in the next couple of days and a SP south of 5c is a buy in my books. Good luck all.
GCN Price at posting:
2.3¢ Sentiment: Buy Disclosure: Held
