tail swallowing


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.
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Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Look at other dictionaries:

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  • 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 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. Related links tail swallowing Practical Law Dictionary. Glossary of UK, US and international… …   Law dictionary

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