We’ll allow eligible shareholders to participate in most corporate actions through Sharesies. Common eligibility criteria can include things like needing to have held shares in the company on the record date.
A record date is different from an ownership date.
Ownership date: you own the shares the day you make the trade.
Record date: the settlement date of the shares. This is known as the T+2 settlement.
When we facilitate a corporate action, the T+2 settlement means that you have to hold your shares in Sharesies two trading days before the record date set by the company. This is to ensure that you’re recorded as holding the shares on the record date set by the company.
If you‘re eligible to participate in a corporate action on the record date, you can usually sell your shares in the company without it affecting your eligibility for the offer.