en concepto de picos

English translation: in respect of fractions

14:15 May 2, 2018
Spanish to English translations [PRO]
Bus/Financial - Investment / Securities
Spanish term or phrase: en concepto de picos
From a leaflet on investment offer terms and conditions

Dada la ecuación de canje de la Contraprestación en Acciones, serán necesarias, al menos ocho acciones de [company name] para recibir una acción de [company name], y aquellos accionistas que acudan a la Oferta con un número de acciones que no resulte un número entero de acciones de [company name], recibirán un pago en efectivo en concepto de picos.
Charlie Higgins
Argentina
Local time: 16:13
English translation:in respect of fractions
Explanation:
When, as is the case here, a certain whole number of shares are to be swapped but there is not an exact match, the fractional shares are paid in cash.

This is the formula used when calculating a dividend payout and I don't see why it couldn't be used here,
Selected response from:

Andy Watkinson
Spain
Local time: 21:13
Grading comment
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +2in respect of fractions
Andy Watkinson
5cash inlieu of fractional shares
bigedsenior


  

Answers


1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
in respect of fractions


Explanation:
When, as is the case here, a certain whole number of shares are to be swapped but there is not an exact match, the fractional shares are paid in cash.

This is the formula used when calculating a dividend payout and I don't see why it couldn't be used here,

Andy Watkinson
Spain
Local time: 21:13
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 8

Peer comments on this answer (and responses from the answerer)
agree  Robert Carter: Ah, that hadn't occurred to me, of course, "y pico" is "just over" or "something", so "fractions" is perfect.
7 mins
  -> Thanks, Robert.

agree  philgoddard
2 hrs
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2 hrs   confidence: Answerer confidence 5/5
cash inlieu of fractional shares


Explanation:
https://getsatisfaction.com/.../topics/how-to-record-cash-in-lieu-of-fractional-shares

Nov 7, 2015 - Offhand I can't think of any way of handling a cash in lieu transaction as anything other than a sale of that fractional share. You typically receive fractional shares as the result of a stock split, a merger, a spinoff, or some similar corporate action, and commonly the fractional share isn't deposited into your ...
How to Report a Fractional Share Payment From a 20-to-1 Stock Split ...
https://finance.zacks.com › Investing › Investing for Beginners
Companies can improve their stock price through a reverse stock split. But the split rarely results in an even exchange, and companies don't want to have thousands of fractional shares on their books. Instead, each shareholder receives a cash payment in lieu of the fractional share value.

bigedsenior
Local time: 12:13
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 14

Peer comments on this answer (and responses from the answerer)
neutral  philgoddard: I don't see how this is different to Andy's answer.
51 mins
  -> the meaning may be the same, but the wording is different. It is the wording used in most of the broker statements I have seen used in the last 20 years of preparing taxes, the wording that is used in the refs provided.
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