It won't show ex as there was no prospectus presumably and it's not a dividend per se. I don't like the way it was done with no specific ex entitlement date (which everyone would have still argued about) but if I sold today, I personally would still qualify for the P1 shares, as I would still officially own them on Friday and settlement would take place on Monday as I'm on standard T3. It is possible to pay some online brokers to settle faster, so everyone may be different. It shouldn't be like this imo, there should have been a set ex date, rather than 'check with your brokers to make sure you're on the register Friday' which is too iffy for many. This is how it works for me. Today: [T] Thursday T+1 - I'm still on register Friday T+2 - I'm still on the register Monday T+3 - if I sold on T day, my online broker will settle sometime late today and I won't appear on the register at after market close.
My own position is that I have no interest in selling as I'm going to see if the P1 deal creates extra value for my GCN shares anyway. The P1 shares are just a bonus, but I don't want ONLY them, which is what I'd get if I sold GCN today. Yes, it's a spec risk, but I'm only risking what I can afford to lose. If it pays off it could be very sweet.
GCN Price at posting:
1.7¢ Sentiment: None Disclosure: Held
