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EXERCISES. Ex. 1 Find definition to each of the given terms in the left-hand column: ordinary share (common share) - the total amount actually paid up on the
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Ex. 1 Find definition to each of the given terms in the left-hand column:
| ordinary share (common share) | - the total amount actually paid up on the issued capital, it is equal to the amount of the issued capital less the value of calls in arrears. |
| preference share (preferential share) | - loss of a right to some property as a punishment such as shares forfeited (lost) because the issuing company’s calls for payment have not been met. |
| authorized capital | - the largest class of share, the owners of which have the right to share in the profit of the company after the preference shares have been paid their dividend but before the deferred shares. |
| paid-up capital (paid-in capital) | - a share that receives a fixed rate of dividend that must be paid before any dividend is paid on ordinary shares or deferred shares. |
| capital reserve | - an amount that must by law be kept as a reserve and which may not be distributed as dividends payable in cash. |
| forfeiture | - a special class of share on which a dividend can be paid only after all other kinds of share have been paid. |
| issued capital | - the total amount of capital actually issued in shares to the members (shareholders) of a company. |
| deferred share | - the amount of the share capital that a company is allowed under its Memorandum of Association to issue, usually expressed as a stated number of shares, each of a stated face value. |
Ex. 2 Complete the following sentences, using the necessary words and word combinations from the given below:
preferential rights; shareholder’s equity; arrears; non-cumulative; participating; profit; a premium; a discount; redemption.
1. Whenever the basic rights of shares are modified, certain shareholders are given ….
2. The … section in the balance sheet discloses what kinds of share a company issued.
3. Dividends in … are never listed among the liabilities of a company.
4. If a shareholder has … preference shares, any unpaid or omitted dividend is lost for him forever.
5. The memorandum of articles may entitle the holder of … preference shares to participate with the holders of ordinary shares in any further … distributed.
6. Shares may be issued at …, that is, at a price in excess of the face value, or at … which occurs rarely.
7. The … may take place by issuing fresh shares.
Ex. 3 Find the correct translation of words and word combinations:
A. 1. share 2. ordinary share 3. preference share 4. to issue 5. voting 6. value 7. holder 8. equity 9. authorized capital 10. paid up capital 11. unappropriated profit 12. cumulated share 13. payment 14. liability 15. arrears 16. omitted dividend 17. participating share 18. at a discount 19. to be redeemed 20. capital redemption account 21. par value 22. cash 23. assets 24. redeemable (preference) share 25. to allot 26. excess 27. issued shares at a premium 28. to forfeit.
B. 1. стоимость 2. держатель 3. уставный капитал 4. акция 5. голосование 6. собственность 7. обыкновенная акция 8. активы 9. выпускать 10. платёж 11. наличные деньги 12. по сниженной цене 13.номинальная стоимость 14. ответственность 15. акция участия (пай) 16. оплаченный капитал 17. кумулятивная (совокупная) акция 18. счет погашения капитальных вложений (капитала) 19. привилегированная акция 20. задолженность 21. превышение 22. невыплаченные дивиденды. 23. выпуск акций по завышенной стоимости 24. погашаться 25. нераспределенная прибыль 26. погашаемая акция 27. конфисковать 28. распределять
Ex. 4 Assignment A
1. Read the first part of the text and pay attention to the things mentioned in it.
2. Read the following questions and find the answers in the first part of the text:
a) What is called an ordinary share?
b) How can you define it?
c) What rights does it carry?
d) What is the second type of shares?
e) What are the holders of preference shares granted?
3. Read the second and the third parts of the text and explain when the preference shareholders are not entitled to participate in any further dividend?
4. Read the text up to the end. Translate the passages under the titles “Redeemable preference shares”, “Issue of shares at a premium”, “Issue of shares at a discount”, “Shares issued for assets other than cash”.
5. Answer the following questions:
a) What types of share do you know?
b) Do the directors have power to forfeit and reissue shares?
c) What is ownership of a capital interest in a company evidenced by?
6. Find the definition of the term “share” in the passage “Shares and shareholder’s funds”. Copy it into your notebook. It will make the first sentence of the brief summary.
5. Consider assignments 1 – 5 once more and write the brief summary of the text. Use the key to check your answer.
Assignment B
1. Read the brief summary carefully and determine its main idea.
2. Answer the following questions:
a) What does the text describe?
b) What does it focus on?
c) Does it reveal the formation of the market price of the ordinary share?
d) What information is given in conclusion to the text?
Ex. 5. Write the abstract of the text. Check your answer using the key.
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