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An offer made to security holders of a company to purchase voting securities of the company which, with the offeror's already owned securities, will in total exceed 20% of the outstanding voting securities of the company. For federally incorporated companies, the equivalent requirement is more than 10% of the outstanding voting shares of the target company.
A coupon or a certificate similar to a warrant, attached to another security and carrying some right or privilege.
A colloquialism for government treasury bills.
Market or security analysis involving the study of price movement and trading volume by plotting charts or graphs. Technical analysis seeks to recommend investment decisions by understanding and predicting investor attitudes and psychology.
A deposit instrument most commonly available from chartered banks, requiring a minimum investment at a pre-determined rate of interest for a stated term. The interest rate varies according to the amount invested and the term to maturity but is competitive with comparable alternative investments. Generally redeemable, but a reduced interest rate usually applies if funds are withdrawn prior to maturity.
A market in which there are comparatively few bids to buy or offers to sell or both. The phrase may apply to a single security or to the entire stock market. In a thin market, price fluctuations between transactions are usually larger than when the market is liquid. A thin market in a particular stock may reflect lack of interest in that issue, or a limited supply of or demand for the stock in general.
The amount, if any, by which the current market price of a right, warrant or option exceeds the Intrinsic Value of the applicable right, warrant or option.
An obligation imposed by securities administrators on companies, their officers and directors to release promptly to the news media any favorable or unfavorable corporate information which is of a material nature. Broad dissemination of this news allows non-insiders to trade the company's securities with the same knowledge about the company as insiders themselves. (See also Continuous Disclosure.)
Employee of a securities firm who executes buy and sell orders for the firm and its clients either on a stock exchange or the OTC market. Also a client who buys and sells frequently, with the objective of short-term profit.
The date that the purchase or sale of a security takes place.
A trust company appointed by a company to keep a record of the names, addresses and number of shares held by its shareholders. Frequently, the transfer agent distributes dividend cheques.
Short-term government debt issued in denominations ranging from $1,000 to $1,000,000. Treasury bills do not pay interest, but are sold at a discount and mature at par (100% of face value). The difference between the purchase price and par at maturity represents the lender's (purchaser's) income in lieu of interest. In Canada such gain is taxed as interest income in the purchaser's hands,
Authorized but unissued stock of a company or previously issued shares that have been re-acquired by the corporation.
For bondholders, usually a trust company appointed by the company to protect the security behind the bonds and to make certain that all covenants of the trust deed relating to the bonds are honoured.
A security, usually a debenture or preferred share, which is convertible into or exchangeable for another security (usually common shares) of the same company.