discretion as to whether to acquire the underlying shares or cash on maturity.
Russian translation: право выбора в отношении приобретения базовых акций либо получения денежных средств в срок погашения
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18:59 Mar 8, 2008
English to Russian translations [PRO] Law/Patents - Finance (general)
English term or phrase:discretion as to whether to acquire the underlying shares or cash on maturity.
For the purposes of Directive 2004/109/EC, financial instruments should be taken into account in the context of notifying major holdings, to the extent that such instruments give the holder an unconditional right to acquire the underlying shares or discretion as to whether to acquire the underlying shares or cash on maturity. Consequently, financial instruments should not be considered to include instruments entitling the holder to receive shares depending on the price of the underlying share reaching a certain level at a certain moment in time. Nor should they be considered to cover those instruments that allow the instrument issuer or a third party to give shares or cash to the instrument holder on maturity.