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Corporations create two kinds of securities: bonds, representing debt, and stocks, representing ownership or equity interest in their operations.
The main difference, the report said, is that "shareholders will now have more pieces of paper representing ownership of the same economic pie".
The transaction, which is expected to close before the end of the year, would leave Nextera as a penny stock representing ownership of an empty shell whose purpose is unclear.
The Administration is authorized to issue trust certificates representing ownership of all or a fractional part of debentures issued by State or local development companies and guaranteed by the Administration under this chapter: Provided, That such trust certificates shall be based on and backed by a trust or pool approved by the Administration and composed solely of guaranteed debentures.
The Suns' owner, Robert Sarver, said that hiring an agent for a top front-office position was "venturing outside the norm a little bit," but that he thought Babby's experience representing ownership and players at various times gave him "a unique insight into this business".
Watered Stock Refers to stock representing ownership of overvalued assets.
Similar(51)
Complete de facto control by the professional manager-president may be diminished or influenced by the presence on the board of a person who owns, or represents ownership of, a substantial block of stock.
Some directors who own, or who represent ownership of, large numbers of shares are passive, compliant, and not involved in major company problems; thus the president's complete powers of control are not diminished or influenced.
Much more likely, these people say, is that Liberty would exchange only some of its PCS shares (and the underlying collars) to Sprint in exchange for a new class of Sprint shares that would represent ownership of the company's telephone directory business, which is thought to be worth perhaps $2.5 billion.
However, these tokens are not like stock certificates, which represent ownership but have no real use.
These represent ownership of pools of mortgages and are widely traded on Wall Street.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com