to close out a Pre-release

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06:44 Jun 21, 2018
English to French translations [PRO]
Law/Patents - Finance (general)
English term or phrase: to close out a Pre-release
In its capacity as Depositary, the Depositary shall not lend Shares or ADSs; provided, however, that the Depositary may issue ADSs prior to the receipt of Shares (each such transaction a "Pre­-Release"). The Depositary may receive ADSs in lieu of Shares to close out a Pre­Release (which ADSs will promptly be canceled by the Depositary upon receipt by the Depositary). Each such Pre­Release will be subject to a written agreement whereby the person or entity (the "Applicant") to whom ADSs are to be delivered (a) represents that at the time of the Pre­Release the Applicant or its customer owns the Shares that are to be delivered by the Applicant under such Pre­Release, (b) agrees to indicate the Depositary as owner of such Shares in its records and to hold such Shares in trust for the Depositary until such Shares are delivered to the Depositary or the Custodian, (c) unconditionally guarantees to deliver to the Depositary or the Custodian, as applicable, such Shares, and (d) agrees to any additional restrictions or requirements that the Depositary deems appropriate.
Sylvie André
France
Local time: 07:43


Summary of answers provided
4pour liquider avant fermeture une émission préalable de titres de recettes
Marcombes


Discussion entries: 1





  

Answers


13 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
to close out a pre-release
pour liquider avant fermeture une émission préalable de titres de recettes


Explanation:
25 mars 2011 - pour constater et liquider les recettes (article 23 du décret n° 62-1587 ... proximité ne nécessitant pas l'émission préalable d'un titre de recettes.

Marcombes
France
Local time: 07:43
Works in field
Native speaker of: Native in FrenchFrench
PRO pts in category: 69

Peer comments on this answer (and responses from the answerer)
neutral  Francois Boye: Your explanation is unclear.
2 hrs
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