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irréductible

English translation: irrevocable

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:irréductible
English translation:irrevocable
Entered by: Stephanie Mitchel
Options:
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02:25 Mar 25, 2002
French to English translations [PRO]
Bus/Financial
French term or phrase: irréductible
Executive Committee Meeting Minutes
'Si l'exercice du droit de souscription à titre irréductible n'absorbe par la totalité de l'émission, le Conseil d'Administration pourra, soit faire souscrire le solde par qui bon lui semblera, dans les conditions et sous les réserves prévues par les statuts, soit limiter l'émission au montant de souscriptions à condition que ce montant atteigne les 3/4 au moins de l'émission décidée.'
Stephanie Mitchel
United States
Local time: 03:26
(to apply for new shares) as of right,
Explanation:
Good morning Stépahine,

This one has come up a couple of times before. Your extract is basically saying that if all of the shares issued are not taken up by those who can apply for them as of right (droit de souscription à titre irréductible), then the Board can :
- either have anyone they wish apply for the remainder, anyone that is in accordance with the provisions of the company’s articles,
- or restrict the issue to the amount of applications/subscriptions , upon the condition that the amount reaches at least 75% of the issue.

I recall this one having come up before. A search in the glossaries with "irréductible" produced the following :

http://www.proz.com/glossary/18857

http://www.proz.com/glossary/62238


A TITRE IRREDUCTIBLE

1 - souscrire à titre irréductible = to apply as of right for new shares

2 - souscription à titre irréductible = application for exact rights

(Definition : opération qui permet à un actionnaire d'obtenir des actions nouvelles en fonction des droits qu'il possède)

3 - souscription à titre préférentiel [1] = subscription on a preemptive basis [1];
souscription à titre irréductible [2] = irrevocable subscription [2]

(Definition : souscription lors de laquelle chaque actionnaire ancien souscrit à l'augmentation de capital au prorata du nombre d'actions anciennes qu'il détient,éventuellement complété des droits de souscription acquis sur le marché)

A TITRE REDUCTIBLE

4 - souscrire à titre réductible = to apply for excess shares

5 – souscription libre [1] = free subscription [1]
souscription à titre réductible [2] = application for excess shares [2]
souscription réductible [3]

(Definition : autorisation accordée aux actionnaires diligents de souscrire des actions à la place des propriétaires négligents n'ayant pas usé de leurs droits)


http://www.investorwords.com/p3.htm#preemptiveright

preemptive right
The right of current shareholders to maintain their fractional ownership of a company by buying a proportional number of shares of any future issue of common stock. Most states consider preemptive rights valid only if made explicit in a corporation's charter. also called subscription privilege or subscription right. see also antidilution provision
Selected response from:

Nikki Scott-Despaigne
Local time: 09:26
Grading comment
Merci Nikki !
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +2irreducibleUmit Altug
5Application as of right for new shareszaphod
4 +1exercising of subscription share rights
Steven Geller
4 +1(to apply for new shares) as of right,
Nikki Scott-Despaigne


  

Answers


49 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
irreducible


Explanation:
The exercise of susbscription rights on irreducible basis (or for irreducible amounts)


    Reference: http://www.agf.fr/pdf/09/rafinanc010718q.pdf
Umit Altug
Local time: 10:26
Native speaker of: Turkish
PRO pts in pair: 12

Peer comments on this answer (and responses from the answerer)
agree  swisstell
42 mins

agree  GILOU
2 hrs

disagree  Steven Geller: Not in this context, You have perhaps found that on the Internet, but it is an incorrect translation.
4 hrs

agree  Rebecca Lowery
5 hrs
Login to enter a peer comment (or grade)

5 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
exercising of subscription share rights


Explanation:
If the exercising of subscription share rights does not absorb the entire issue, then the Board of Directors may either enable whomsoever it selects to subscribe the balance, according to the terms and subject to the safeguards outlined in the articles of incorporation, or limit the issue to the amount of the subscriptions provided that such amount is not less than 3/4 of the authorised issue.

Termium gives...

Français :Finances

souscrire à titre irréductible

Anglais :Finances

apply as of right for new shares s VERB


--------------------------------------------------
Note added at 2002-03-25 08:01:33 (GMT)
--------------------------------------------------

Stephenie,

You obviously cannot say on an \"irreducible basis\" when the text says that they can reduce the offering to 3/4 of what was originally authorised.

Steven Geller
Local time: 09:26
PRO pts in pair: 1246

Peer comments on this answer (and responses from the answerer)
agree  Dr. Chrys Chrystello
5 hrs
Login to enter a peer comment (or grade)

6 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
(to apply for new shares) as of right,


Explanation:
Good morning Stépahine,

This one has come up a couple of times before. Your extract is basically saying that if all of the shares issued are not taken up by those who can apply for them as of right (droit de souscription à titre irréductible), then the Board can :
- either have anyone they wish apply for the remainder, anyone that is in accordance with the provisions of the company’s articles,
- or restrict the issue to the amount of applications/subscriptions , upon the condition that the amount reaches at least 75% of the issue.

I recall this one having come up before. A search in the glossaries with "irréductible" produced the following :

http://www.proz.com/glossary/18857

http://www.proz.com/glossary/62238


A TITRE IRREDUCTIBLE

1 - souscrire à titre irréductible = to apply as of right for new shares

2 - souscription à titre irréductible = application for exact rights

(Definition : opération qui permet à un actionnaire d'obtenir des actions nouvelles en fonction des droits qu'il possède)

3 - souscription à titre préférentiel [1] = subscription on a preemptive basis [1];
souscription à titre irréductible [2] = irrevocable subscription [2]

(Definition : souscription lors de laquelle chaque actionnaire ancien souscrit à l'augmentation de capital au prorata du nombre d'actions anciennes qu'il détient,éventuellement complété des droits de souscription acquis sur le marché)

A TITRE REDUCTIBLE

4 - souscrire à titre réductible = to apply for excess shares

5 – souscription libre [1] = free subscription [1]
souscription à titre réductible [2] = application for excess shares [2]
souscription réductible [3]

(Definition : autorisation accordée aux actionnaires diligents de souscrire des actions à la place des propriétaires négligents n'ayant pas usé de leurs droits)


http://www.investorwords.com/p3.htm#preemptiveright

preemptive right
The right of current shareholders to maintain their fractional ownership of a company by buying a proportional number of shares of any future issue of common stock. Most states consider preemptive rights valid only if made explicit in a corporation's charter. also called subscription privilege or subscription right. see also antidilution provision



    ProZ glossaries
Nikki Scott-Despaigne
Local time: 09:26
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 4416
Grading comment
Merci Nikki !

Peer comments on this answer (and responses from the answerer)
agree  Mary Lalevee
24 mins
Login to enter a peer comment (or grade)

6 hrs   confidence: Answerer confidence 5/5
Application as of right for new shares


Explanation:
Robert Management / experience

zaphod
Local time: 09:26
Native speaker of: Native in EnglishEnglish, Native in FrenchFrench
PRO pts in pair: 440
Login to enter a peer comment (or grade)




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