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ccTLD and Sub directories both are valid but it is preferable to use subdirectory instead of ccTLD. By the way duplicate content can be a huge issue in that case weather you go for anything ccTLD, sub directory and even the different domain. I would highly recommend using the sub directory with a unique text in it! Or use the different language (same content under different language won’t be a problem!)

Hi Tourman, Your first question: This really depends on the setup of your hosting and development at this moment, but I would say in almost 90% of the cases these sites will be uploaded to the same server. This could affect your rankings but in a really really small difference, because Google is taking the server location into its algorithms. Personally I worked on a couple of sites which didn't had it's servers in the same country as the top level domain and I couldn't found any difference between the top level domains which had the server in the same country. So I wouldn't worry to much about the effect on rankings of your servers location. Hope this helps!

Just because there is a reindex, does not guarantee that the rankings change that quickly. You should watch it and see. One thing to remember, make sure you are using a non personalized search when looking or run the rankings in moz. I would watch it over a few weeks and see if you see movement.