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Tel. 780-429-6775
Fax. 780-424-0004
100, 10585 - 111 Street
Edmonton, Alberta  T5H 3E8

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glossary


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Rally

A brisk rise following a decline in the general price level of the market or in an individual stock.

Reaction

Temporary price weakness following a price upswing.

Real Estate Investment Trust (REIT)

An investment trust that specializes in investing in real estate related investments including mortgages, construction loans, land and real estate securities in varying combinations.

Real Interest Rates

the nominal rate of interest minus the percentage change in the Consumer Price Index (i.e., the rate of inflation).

Record Date

See Shareholder of Record.

Red Herring

A preliminary prospectus so called because certain information is printed in red ink around the border of the front page. It does not contain all the information found in the final prospectus. Its purpose: to ascertain the extent of public interest in an issue while it is being reviewed by a Securities Commission.

Redemption

The purchase of securities by the issuer at a time and price stipulated in the terms of the securities.

Redemption Price

The price at which debt securities or preferred shares may be redeemed, at the option of the issuing company.

Refinancing or Refunding

New securities are sold by a government or a company and the money is used to retire existing securities. Object may be to save interest costs, extend the maturity of the loan, or both.

Registered Representative

A salesperson employed by a securities firm who must be registered by the Securities Commission of the province in which he or she works.

Registered Security

A security recorded on the books of a company in the name of the owner. It can be transferred only when the certificate is endorsed by the registered owner. Registered debt securities may be registered as to principal only or fully registered. In the latter case, interest is paid by cheque rather than by coupons attached to the certificate. (See also Bearer Security.)

Registered Tax Deferral Savings Plans

Government-approved savings plans (such as registered pension plans, registered retirement savings plans, and registered retirement income funds) in which funds contributed by individuals are tax-deductible within certain limits and investment earnings accumulate in the plans tax-free until de-registration or maturity of the plans.

Registrar

Usually a trust company appointed by a company to prevent the over-issue of common or preferred shares. The registrar receives both the old cancelled certificate and the new certificate from the Transfer Agent (which see), records and signs the new certificate. The registrar is, in effect, an auditor checking on the accuracy of the work of the Transfer Agent, although in most cases the Registrar and Transfer Agent are the same trust company.

Registration

Before a public offering of new securities by a company or of outstanding securities by controlling stockholders may be made, the securities must be registered under the Securities Act of each province in which the securities will be offered. This usually involves filing a Prospectus.

Regular Delivery

Unless otherwise stipulated, sellers of stocks must deliver such shares by the fifth full business day after sale.

Reporting Issuer

Usually, a corporation that has issued or has outstanding securities that are held by the public and is subject to continuous disclosure requirements of securities administrators.

Restricted Shares

Shares that participate in a company's earnings and assets (in liquidation), as common shares do, but generally have restrictions on voting rights or else no voting rights.

Retained Earnings

The cumulative total portion of annual earnings retained by a company after payment of all expenses and dividends.

Retractable

A feature which can be included in a new debt or preferred issue granting the holder the option under specified conditions to redeem the security on a stated date one prior to maturity in the case of a bond.

Right

A temporary privilege granted to a company's existing common shareholders to purchase at a stated price and within a specified time period, additional common shares from the company itself.

Rights of Withdrawal & Rescission

Rights held by buyers of new issues to withdraw from the purchase contract within two days following purchase for any reason; or to rescind a purchase if the prospectus contained an untrue statement or omitted a material fact.


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