Banken for en verden i endring The bank for a ... - BNP Paribas

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Banken for en verden i endring The bank for a ... - BNP Paribas

• glossary

Public tender offer Offer to buy shares of a company, usually at a premium above the shares' market price, for cash or securities or

a combination of both. Where only a small proportion of the company's shares are traded on the market and the

offer is followed by a compulsory buyout, the process is known as a "squeeze-out".

Quorum General Meetings can take place only if there is a quorum. For Ordinary General Meetings, on first call there is

a quorum if the shareholders present and represented hold at least 1/4 of the voting rights. There is no quorum

requirement on second call. For Extraordinary General Meetings, the quorum corresponds to 1/3 of the voting

rights on first call and 1/4 on second call. For Combined Meetings, the quorum requirements depend on whether

the resolutions are "ordinary" or "extraordinary".

Quotation The quotation determines the price of a security on the market at a given point in time. Prices are generally quoted

on a continuous basis throughout the day (from 9:00 a.m. to 5:30 p.m.), providing a real-time indication of the

prices at which the security concerned is changing hands. Continuous quotation allows market players to closely

track market trends. Quotations for securities with a low trading volume are made once a day.

Rating/rating agencies A rating represents an assessment of the default risk on debt securities. The rating awarded to an issuer has a

direct impact on the issuer's borrowing costs. Changes in ratings also have a significant impact on the issuer's

share price. The main rating agencies are Standard & Poor’s, Moody’s and Fitch.

Report On the Euronext Paris market, transaction allowing an investor to carry forward a buy or sell position from one

deferred settlement date to the next.

ROE Return on Equity. Ratio between consolidated net income and consolidated shareholders’ equity.

Secondary market Market where securities are bought and sold subsequent to their issue.

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GLOSSARY

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