Joe's response, and my reply: Joe: Yes of cour
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Posted On: 02/26/2020 12:34:51 PM
Joe's response, and my reply:
Joe: Yes of course you would get the dividends in Generex, the exdate only pertains to public entities, the ngio dividend record date is for private companies just the same as the first NGIO dividend. Privates don’t have ex dates.
Me: Well, Joe, if privates don't have Ex Dates, why did the first NGIO div have an Ex Date, per your PR?
MIRAMAR, FL, January 23, 2019 / (Business Wire) / -- Generex Biotechnology Corporation (www.generex.com) (OTCQB:GNBT) (http://www.otcmarkets.com/stock/GNBT/quote) today announced that it has REVISED the record date for the previously announced dividend to Generex shareholders of shares in our wholly-owned subsidiary NuGenerex Immuno-Oncology (formerly Antigen Express).
The Record Date for the determination of the holders of the Company’s common stock entitled to participate in the dividend will now be January 30, 2019. The dividend Payment Date remains February 25, 2019.
The Company believes that the ex-dividend date will be Monday, January 28, 2019 by application of FINRA Uniform Practice Code rules which provide ex-dividend date for dividends of less than 25 percent of the value a company’s common stock is the second business day prior to the record date.
The ex-dividend date determines whether a shareholder who sells Generex stock will retain the dividend. Based on FINRA rules, Generex understands that If a shareholder holds Generex stock but sells it before the ex-dividend date, the buyer will be entitled to the dividend. If a shareholder holds Generex stock and sells it on or after the ex-dividend date the buyer will not be entitled to the dividend.
The 600k additional shares would be a 2.2% increase to the total NGIO shares (~26.8MM) you have otherwise issued to us. Not significant compared to the goodwill of your loyal shareholders. This is not fair, Joe, and you need to make it right.
Thank you.
Joe: Yes of course you would get the dividends in Generex, the exdate only pertains to public entities, the ngio dividend record date is for private companies just the same as the first NGIO dividend. Privates don’t have ex dates.
Me: Well, Joe, if privates don't have Ex Dates, why did the first NGIO div have an Ex Date, per your PR?
MIRAMAR, FL, January 23, 2019 / (Business Wire) / -- Generex Biotechnology Corporation (www.generex.com) (OTCQB:GNBT) (http://www.otcmarkets.com/stock/GNBT/quote) today announced that it has REVISED the record date for the previously announced dividend to Generex shareholders of shares in our wholly-owned subsidiary NuGenerex Immuno-Oncology (formerly Antigen Express).
The Record Date for the determination of the holders of the Company’s common stock entitled to participate in the dividend will now be January 30, 2019. The dividend Payment Date remains February 25, 2019.
The Company believes that the ex-dividend date will be Monday, January 28, 2019 by application of FINRA Uniform Practice Code rules which provide ex-dividend date for dividends of less than 25 percent of the value a company’s common stock is the second business day prior to the record date.
The ex-dividend date determines whether a shareholder who sells Generex stock will retain the dividend. Based on FINRA rules, Generex understands that If a shareholder holds Generex stock but sells it before the ex-dividend date, the buyer will be entitled to the dividend. If a shareholder holds Generex stock and sells it on or after the ex-dividend date the buyer will not be entitled to the dividend.
The 600k additional shares would be a 2.2% increase to the total NGIO shares (~26.8MM) you have otherwise issued to us. Not significant compared to the goodwill of your loyal shareholders. This is not fair, Joe, and you need to make it right.
Thank you.
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