Houston Natural Resources Corp (HNRC)

[Melly Mell]

From my understanding in the PR,

will be treated as an ordinary dividend

This says to me that the spin off dividend will be treated as a cash dividend.

With that being said, I would apply the rules of a cash dividend.

The company shares will trade ex-dividend for the period July 1 to July 31, 2014

This says to me the Ex-dividend date begins July 1.

If you apply the rules of a cash dividend to the spin off dividend, you should be free to trade if you wish on or after the ex-dividend date of July 1, 2014.

By all means, if you remain uncertain, follow your instincts.

WNTR