More confusion on Genting split issues

My Dearest Moo Moo Cow,

More confusion on Genting's share split issue blogged yesterday.

This is because of the following statement.

• "Further to the Listing Circular No L/Q 42351 of 2007, Bursa Malaysia Securities Bhd would like to clarify that on the basis of settlement taking place on 16 April 2007 with subdivided GENTING shares of RM0.10 each, any shareholder who is entitled to receive GENTING subdivided shares, may now sell any or all of his GENTING shares arising from the subdivision.
  
  For example, if Mr X purchases 1,000 GENTING shares on cum basis on 10 April 2007, Mr X should receive 1,000 shares on 13 April 2007. As a result of the subdivision, 5,000 GENTING shares will be credited into Mr X's CDS account on the night of 13 April 2007 being the Books Closing Date. Therefore, Mr X may, if he so wishes, sell the subdivided shares of 5,000 now."

The problem is the definition of NOW because if the subdivided shares were said to be credited only on the night of April 13th, how could Bursa clarify and said the shareholder could sell now? And since that notice was posted on the 12th April night, this now WOULD have meant the shareholder could sell the split stocks anytime on the 13th April - even if the subdivided shares were only credited later.

Yesterday evening, there was another announcement. GENTING BERHAD ("GENTING") PROPOSED SHARE SPLIT; AND PROPOSED AMENDMENTS TO THE MEMORANDUM AND ARTICLES OF ASSOCIATION

• On behalf of Genting, we wish to announce that 738,928,954 ordinary shares of RM0.50 each in Genting will be subdivided into 3,694,644,770 ordinary shares of RM0.10 each in Genting ("Split Shares") today as a result of the Proposed Share Split.
  
  The Split Shares will be listed and quoted on Bursa Malaysia Securities Berhad on 16 April 2007.
  
  This announcement is dated 13 April 2007.

So correct me if I am wrong here.

Right now, in Genting's share split case, Bursa is NOW saying one could have sold their subdivided or split shares even before they are listed and quoted?

Isn't it so confusing?

And most people were taught that you could only sell shares only when the new shares are listed and quoted. That is you could only sell when you have these 'new' shares credited into your account.

Well apparently in Genting's case, this was not the case.

Now get this, Genting traded as high as 9.95 on the 11th. Yesterday, on the 13th it closed at 8.50. Wouldn't it be nice if everyone knew exactly that they could have sold their shares on the 11th itself when Genting was trading as high as 9.95 or even 9.50? It would be a good price to sell considering the massive run up in Genting's share price.

So I reckon it's simply not fair level playing field because the confusion caused by this simple issue of when one could have sold their subdivided shares.

Why can't the announcement be written in simpler English?

Say for example in Genting's case, post the exact date when one could have sold the shares because as it is, it's so confusing.

And my dearest Moo Moo Cow, it's rather ironic because I was highlighted by my dearest Scouser of one particular news article back in 2005. http://www.dailyexpress.com.my/news.cfm?NewsID=32801

• SC issues guide to use plain English in prospectuses
  24 February, 2005
  Kuala Lumpur: The Securities Commission (SC) Wednesday released a guide to encourage the use of plain English in prospectuses in efforts to ensure that information in offer documents were easily understood by investors for them to make informed investment decisions.
  
  Investors would be encouraged to read and will find it easier to comprehend prospectuses if those documents were written in plain English, as well as presented in a clear, concise and effective manner, the SC said in a statement here Wednesday.
  
  It said that prospectuses provide vital information concerning the offer and the company as well as the risks of an offered investment.
  
  The Plain Language Guide for Prospectuses outlines several approaches on how to provide clearer disclosures in prospectuses and is available on the SC website at www.sc.com.my.
  
  The SC said that Parties involved in the preparation of the documents were required to comply with the regulatory requirements namely the Securities Commission Act 1993 and the Prospectus Guidelines.
  
  "They should be aware that the use of plain language does not reduce their liability and they have a responsibility to disclose relevant and important information to investors," it said.- Bernama
  

How now my dearest Moo Moo Cow?

What do you think of all this?

Am I beating aimlessly on the drums or do you reckon I have a valid point here?