(GRH.L) G.R. (Holdings) PLC Buy/Sell

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Author	dell314 View Profile \| Add to favourites \| Ignore
Date posted	2006-06-02 14:05
Subject	Re: Strange! View parent message
Votes for this Posting	Voted 2 times. Not voted down.
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Mr Pat - The RNS wasn't really confusing but unfortunately a lot of people don't understand record dates and ex-div dates(and a few probably take advantage of their knowledge to confuse other investors). As settlement is generally accepted as T+3, you need to buy the stock three days before the record date to get the divi. For GRH: " This will be paid on 30 June 2006 to those shareholders on the Register of Members at close of business on 2 June 2006". Therefore, to be on the register at close on 2 June, you needed to have bought the stock by close on Tuesday which is why the stock dropped by roughly the value of the special divi on Wednesday morning. Presumably, most of those who chased the stock back up were punters who didn't realise this. FWIW, there is a very useful post on the ADVFN GRH thread by "tiredoldbroker"which also explains that GRH preference share holders have rights over a considerable portion of the remaining cash, so the residual cash per ordinary share is probably much less than most realise. If all that wasn't already suggesting that the stock is currently significantly overvalued, there is also the strong indication that the company plans to delist to consider..... All IMHO, DYOR etc. Rgds dell
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