nil paid rights
nil paid or nil paid rights
The rights to subscribe for new shares when the amount payable on acceptance of the offer of new shares has not been paid.
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Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Look at other dictionaries:

  • Nil Paid Rights —    Rights issues are typically offered at a discount to the prevailing market price of the existing securities, so the allotment letters have a market value and may be traded as nil paid rights before payment for the new shares is due.    ► See… …   Financial and business terms

  • nil paid — or nil paid rights The rights to subscribe for new shares when the amount payable on acceptance of the offer of new shares has not been paid. Related links tail swallowing Practical Law Dictionary. Glossary of UK, US and international legal terms …   Law dictionary

  • Nil-Paid — Security that is tradeable but originally posed no cost to the seller. For example, a renounceable right being sold by the original owner to another investor is considered nil paid. A right is an opportunity to purchase more shares, usually at… …   Investment dictionary

  • nil paid — A new issue of shares, usually as the result of a rights issue, on which no payment has yet been made. Exchange Handbook Glossary …   Financial and business terms

  • nil paid shares — Shares issued without payment, usually as the result of a rights issue …   Accounting dictionary

  • rights issue — an issuing of extra shares. A company may raise additional capital from its members as opposed to from the public at large by issuing extra shares; this is called a rights issue. See pre emption; pre emption clause. Collins dictionary of law. W.… …   Law dictionary

  • rights issue — An issue of shares for cash by a company to its existing shareholders on a basis pro rata to their existing shareholdings. The issue will normally be at a substantial discount to the current share price (usually between 20% and 40% discount). The …   Financial and business terms

  • tail swallowing — On a rights issue, where a person sells sufficient of his nil paid rights in order to enable him to take up the balance of his entitlement under the rights issue, using the net proceeds of the sale of the nil paid rights to enable him to do so.… …   Law dictionary

  • record date — n: the date on which a corporation determines the identity of its shareholders and their holdings (as for determining who is entitled to notice of a shareholder meeting or who is entitled to vote at such a meeting or to receive dividends) –… …   Law dictionary

  • ISO 10962 — is the CFI (Classification of Financial Instruments) code maintained by the International Organization for Standardization ( ISO). It is an alphabetical code consisting of 6 letters. The first letter is the category, the second is the group, and… …   Wikipedia

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