The PR is wrong. That is not the way it works. The NASDAQ has nothing to do with it. Message Jim Bishop or overachiever. They can verify this.
This is how it really works. The company files with the NASD telling them their expected record date and pay-date. The NASD then sets the ex-date and establishes a due bill process so that anyone who buys between the record date and the exdate (in the case of spin-offs or stock dividends, the exdate follows the record date whereas in the case of cash dividends, the inverse applies) will get the spin-off. Once the ex-date passes, you will no longer get the spin-off but that usually happens the DAY AFTER THE PAYDATE in the case of spin-offs!
If you sell your stock in between the record date and the exdate, the due bill will entitle the person who bought your stock to receive the spin-off.
Since the company has put it the way they have, my guess is that they have no idea when they will pay the spin-off shares yet and have not yet bothered to file so that the ex-date can be set. The fact the stock does not yet appear on the daily list detailing all of this confirms. There will be no due bill process involved until they do file so they are just talking nonsense.
I hope this helps. If you do not believe me, contact an investment professional and they can set you straight. Or like I said before, ask Jim Bishop or overachiever. I know they are familiar with the process and Jim Bishop is one of the most knowledgable people at IHUB when it comes to things like this. He has traded many dividend stocks over the past many years and is never wrong about how this works.
