btw - I called FINRA and asked them if the company
Post# of 36564
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Posted On: 02/26/2020 5:41:23 PM
Re: Paul Jackson #13203
btw - I called FINRA and asked them if the company can change the record date to make it right for investors, and FINRA said that if the company can reach out to them, then they can look into it.
I have already reached out to GNBT regarding this...TC and others, would you please reach out to GNBT as well, if possible...so, perhaps when more people reach out to GNBT, GNBT would be willing to consider changing the record date.
Thank you so much!
I wrote -
_________
FINRA directed me to FINRA Rules Section 11140 (b)(1) and 11140 (b)(2).
(1) In respect to cash dividends or distributions, or stock dividends, and the issuance or distribution of warrants, which are less than 25% of the value of the subject security, if the definitive information is received sufficiently in advance of the record date, the date designated as the "ex-dividend date" shall be the first business day preceding the record date if the record date falls on a business day, or the second business day preceding the record date if the record date falls on a day designated by the Committee as a non-delivery date.
(2) In respect to cash dividends or distributions, stock dividends and/or splits, and the distribution of warrants, which are 25% or greater of the value of the subject security, the ex-dividend date shall be the first business day following the payable date.
After reading this, I guess Section 11140(b)(1) applies to NGIO dividends and Section 11140(b)(2) applies to GNBT dividends.
So, in order for NGIO dividends to be paid correctly in accordance with GNBT’s press releases, the record date for NGIO shares needs to be 2/26/20 in order for GNBT shares purchased through 2/24/20 to have NGIO dividend shares attached.
I just checked my Fidelity account, I did not get any NGIO dividends on GNBT shares that I purchased from 2/13/20, which means when GNBT said record date is 2/17/20, which is a holiday, the ex-dividend date for NGIO shares is 2/13/20, as FINRA rules provides the date designated as the “ex-dividend date” is the second business day preceding the record date if the record date falls on a day designated by the Committee as a non-delivery date. 2/17/20 was a holiday, so 2/13/20 was the ex-dividend date, so any GNBT shares purchased on 2/13/20 and after did not have any NGIO dividends attached.
So, to make it right, the record date for NGIO shares needs to 2/26/20, which makes 2/25/20 the ex-dividend date and any GNBT shares purchased through 2/24/20 will then be entitled to NGIO shares….this would be consistent to GNBT’s PR as GNBT’s PR stated that Ex-dividend date is 2/25/20.
Or may be the company can extend the NGIO dividends to more investors by changing the record date to a date later than 2/26/20 and then issue a PR stating exactly what will happen, so the investors know what to expect.
Thoughts?
Read More: https://investorshangout.com/post/newpost/622...z6F6Q5v77s
I have already reached out to GNBT regarding this...TC and others, would you please reach out to GNBT as well, if possible...so, perhaps when more people reach out to GNBT, GNBT would be willing to consider changing the record date.
Thank you so much!
I wrote -
_________
FINRA directed me to FINRA Rules Section 11140 (b)(1) and 11140 (b)(2).
(1) In respect to cash dividends or distributions, or stock dividends, and the issuance or distribution of warrants, which are less than 25% of the value of the subject security, if the definitive information is received sufficiently in advance of the record date, the date designated as the "ex-dividend date" shall be the first business day preceding the record date if the record date falls on a business day, or the second business day preceding the record date if the record date falls on a day designated by the Committee as a non-delivery date.
(2) In respect to cash dividends or distributions, stock dividends and/or splits, and the distribution of warrants, which are 25% or greater of the value of the subject security, the ex-dividend date shall be the first business day following the payable date.
After reading this, I guess Section 11140(b)(1) applies to NGIO dividends and Section 11140(b)(2) applies to GNBT dividends.
So, in order for NGIO dividends to be paid correctly in accordance with GNBT’s press releases, the record date for NGIO shares needs to be 2/26/20 in order for GNBT shares purchased through 2/24/20 to have NGIO dividend shares attached.
I just checked my Fidelity account, I did not get any NGIO dividends on GNBT shares that I purchased from 2/13/20, which means when GNBT said record date is 2/17/20, which is a holiday, the ex-dividend date for NGIO shares is 2/13/20, as FINRA rules provides the date designated as the “ex-dividend date” is the second business day preceding the record date if the record date falls on a day designated by the Committee as a non-delivery date. 2/17/20 was a holiday, so 2/13/20 was the ex-dividend date, so any GNBT shares purchased on 2/13/20 and after did not have any NGIO dividends attached.
So, to make it right, the record date for NGIO shares needs to 2/26/20, which makes 2/25/20 the ex-dividend date and any GNBT shares purchased through 2/24/20 will then be entitled to NGIO shares….this would be consistent to GNBT’s PR as GNBT’s PR stated that Ex-dividend date is 2/25/20.
Or may be the company can extend the NGIO dividends to more investors by changing the record date to a date later than 2/26/20 and then issue a PR stating exactly what will happen, so the investors know what to expect.
Thoughts?
Read More: https://investorshangout.com/post/newpost/622...z6F6Q5v77s
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