Local/National Government, Banks, trustee companies, any securities such as commercial paper and bankers acceptances that have a maturity of less then 270 days
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Preference share
The dividend is a fixed amount per share
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Data Vendor
provide the investment community with similar information for a fee
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Bonus rights
Tradeable and can be converted to shares at a set date. Mainly occur in bearer markets. Remove fractional entitlements
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Non-Renounceable
Ownership cannot be transferred to another beneficiary and entitlements are not tradeable
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Renounceable
the rights can be freely traded and a shareholder can sell their nil-paid rights on to another investor who can then subscribe to the issue in the same way as the shareholder
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Open Offers
Rights are non-tradeable and non-transferable. Takes place when a company wishes to raise capital for the purpose of e.g. major investment, debt repayment, takeovers and bids
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979 notice
undertake a compulsory purchase of the remainder of the shares - any shareholders who still do not accept the offer become dissenting shareholders - paid 6 weeks from issue
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First Short Coupon
The first payment will be paid on the first coupon date, and be equivalent to an amount less then the whole coupon
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First Long Coupon
The first payment date will be paid on the second coupon date, and be equivalent to an amount greater than the whole coupon
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Consent Solicitation
is a request by one party to the holders of certain debt security asking for their consent to a material change
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Trustee
holder of legal title to the investments that make up the trust and will act in a fiduciary capcity to its clients
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The Settlor
the person creating the trust
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Tender Agent
The process of tendering securities is the auctioning of a security to the highest bidder. The tender agent is the agent bank that manages this process on behalf of the issuer
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Calculation/Paying agent
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GMLSA
Securities Lending - covers situations where corporate actins take place or income payments are made while the stock is out on loan
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