provisional allotment letter

provisional allotment letter
provisional allotment letter (PAL)
A temporary document of title by which new shares are offered to shareholders in a rights issue. The PAL shows each shareholder's entitlement to the new shares, and can be traded in nil paid or fully paid form.
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Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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  • provisional allotment letter — See rights issues. Dresdner Kleinwort Wasserstein financial glossary …   Financial and business terms

  • splitting — index division (act of dividing) Burton s Legal Thesaurus. William C. Burton. 2006 splitting …   Law dictionary

  • rights issue — An issue of shares for cash by a company to its existing shareholders on a basis pro rata to their existing shareholdings. The issue will normally be at a substantial discount to the current share price (usually between 20% and 40% discount). The …   Financial and business terms

  • renouncable documents — On the London Stock Exchange, temporary evidence of ownership, of which there are 4 main types. When a company offers shares to the public, it sends an allotment letter to the successful applicants; if it makes a rights issue, it sends a… …   Financial and business terms

  • rights issue — an issuing of extra shares. A company may raise additional capital from its members as opposed to from the public at large by issuing extra shares; this is called a rights issue. See pre emption; pre emption clause. Collins dictionary of law. W.… …   Law dictionary

  • Centrica — plc Type Public limited company Traded as LSE:  …   Wikipedia

  • renunciation — re·nun·ci·a·tion /ri ˌnən sē ā shən/ n: the act or practice of renouncing; specif: the act of refusing to continue to acknowledge, recognize, or be bound by a contract or obligation: repudiation Merriam Webster’s Dictionary of Law. Merriam… …   Law dictionary

  • lazy shareholder — On a rights issue, a shareholder who does not take up his rights under the provisional allotment letter and after the disposal of the rump receives a cash payment representing any premium over the rights issue price. Related links rights issue; …   Law dictionary

  • PAL — abbrpassive activity loss Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. PAL …   Law dictionary

  • PAL — See: passive activity loss Provisional allotment letter. See rights issues. Dresdner Kleinwort Wasserstein financial glossary …   Financial and business terms

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