G'day just a clarification pointThe terms and conditions of the...

G'day just a clarification point

The terms and conditions of the new MUL offer states

"you are eligible to apply to purchase fully paid shares in Multiemedia under this offer if you ARE a registered shareholder of Multiemedia AND:

1. You were a registered holder at 5pm on 1 October, and
2. your address is Australia or NZ"

I know i have not quoted it word for word, but can someone clarify, if you were a holder at 1 October but sold them last week, are you still eligible to apply for new shares under the new offer?

My confusion stems from the use of the current reference that you "ARE" a holder of MUL (implying that you must already hold shares at the time you put your application in for the new shares).