accionistas últimos

English translation: ultimate shareholders

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:accionistas últimos
English translation:ultimate shareholders
Entered by: Sheila Hardie
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17:09 Oct 25, 2005
Spanish to English translations [PRO]
Bus/Financial - Finance (general) / shareholders
Spanish term or phrase: accionistas últimos
Otra de opas eléctricas



Se acuerdan de aquellas opas sobre Hidrocantábrico? Con Ferroatlántico lanzado la primera por debajo de la cotización, opas y contraopas presentadas el mismo día para desespero de la CNMV, las intervenciones del Gobierno buscando qué ***accionistas últimos*** estaban detrás de los primeros, anulaciones generales de derechos de voto. ¡Aquello era emoción!


The complete article can be found here:

http://www.cincodias.com/solotexto/articulo.html?xref=200510...

I am not sure what kind of shareholders these are - 'final'? - 'controlling'? 'Majority'???

Many thanks in advance,



Sheila
Sheila Hardie
Spain
Local time: 23:34
ultimate shareholders
Explanation:
as in this explanation: will return with reference link.

The essence of any system of governance is that those to whommajor powers are entrusted must be accountable to those whomthey serve; otherwise, self-interest will prevail to a greater orlesser degree. American shareholder capitalism fails this test. Theaccountability that exists is typically limited and delayed.Managements are not effectively accountable either to individualshareholders or to the investment institutions and fund managersthat are the intermediary agents of the ultimate shareholders.Nor, in turn, are these intermediaries effectively accountable tothe ultimate shareholders—the individuals who are pension fundmembers, and policyholders. There is thus a doubleaccountability deficit, which inevitably results from passive,absentee ownership. This is the fundamental weakness ofshareholder capitalism, and it must be effectively remedied for allother weaknesses to be resolved

--------------------------------------------------
Note added at 6 mins (2005-10-25 17:16:48 GMT)
--------------------------------------------------

europa.eu.int/comm/internal_market/ en/company/company/modern/consult/34_en.htm - 31k - Cached - Similar pages

[PDF] The Case for Powerful Shareholders
File Format: PDF/Adobe Acrobat - View as HTML
that are the intermediary agents of the ultimate shareholders. ... the ultimate
shareholders—the individuals who are pension fund ...
www.ragm.com/hottopics/2005/PowerfulShareholders.pdf - Oct 23, 2005 - Similar pages

THe article explains it....

--------------------------------------------------
Note added at 9 mins (2005-10-25 17:19:41 GMT)
--------------------------------------------------

THe term is used to mean the real owners of the shares sometimes obscured by complex shareholding patterns and inter-locking shareholding.

For a Public Listed Company (PLC)In the case where the “loss” company (i.e. the company with prior years’ unutilizedlosses, donations or capital allowances) or its ultimate parent company is a public listed company (PLC) whose shares are actively traded on a recognised Stock Exchange (whether local or foreign), the “loss” company would be allowed to set-off the prior years’ losses, donations and capital allowances in any subsequent year if the external auditor or the company secretary of the PLC can confirm that no merger or takeover of the PLC has taken place between the relevant comparison dates3(both dates inclusive). Provided that in the absence of both the external auditor and the company secretary of the PLC, confirmation by the audit committee4, the person holding the position ofFinancial Controller or the director of the PLC that no merger or takeover of the PLChas taken place between the relevant comparison dates (both dates inclusive) couldbe accepted
Selected response from:

Jane Lamb-Ruiz
Grading comment
Many thanks for your help, Jane!
4 KudoZ points were awarded for this answer



Summary of answers provided
5 +4ultimate shareholders
Jane Lamb-Ruiz


  

Answers


6 mins   confidence: Answerer confidence 5/5 peer agreement (net): +4
accionistas últimos
ultimate shareholders


Explanation:
as in this explanation: will return with reference link.

The essence of any system of governance is that those to whommajor powers are entrusted must be accountable to those whomthey serve; otherwise, self-interest will prevail to a greater orlesser degree. American shareholder capitalism fails this test. Theaccountability that exists is typically limited and delayed.Managements are not effectively accountable either to individualshareholders or to the investment institutions and fund managersthat are the intermediary agents of the ultimate shareholders.Nor, in turn, are these intermediaries effectively accountable tothe ultimate shareholders—the individuals who are pension fundmembers, and policyholders. There is thus a doubleaccountability deficit, which inevitably results from passive,absentee ownership. This is the fundamental weakness ofshareholder capitalism, and it must be effectively remedied for allother weaknesses to be resolved

--------------------------------------------------
Note added at 6 mins (2005-10-25 17:16:48 GMT)
--------------------------------------------------

europa.eu.int/comm/internal_market/ en/company/company/modern/consult/34_en.htm - 31k - Cached - Similar pages

[PDF] The Case for Powerful Shareholders
File Format: PDF/Adobe Acrobat - View as HTML
that are the intermediary agents of the ultimate shareholders. ... the ultimate
shareholders—the individuals who are pension fund ...
www.ragm.com/hottopics/2005/PowerfulShareholders.pdf - Oct 23, 2005 - Similar pages

THe article explains it....

--------------------------------------------------
Note added at 9 mins (2005-10-25 17:19:41 GMT)
--------------------------------------------------

THe term is used to mean the real owners of the shares sometimes obscured by complex shareholding patterns and inter-locking shareholding.

For a Public Listed Company (PLC)In the case where the “loss” company (i.e. the company with prior years’ unutilizedlosses, donations or capital allowances) or its ultimate parent company is a public listed company (PLC) whose shares are actively traded on a recognised Stock Exchange (whether local or foreign), the “loss” company would be allowed to set-off the prior years’ losses, donations and capital allowances in any subsequent year if the external auditor or the company secretary of the PLC can confirm that no merger or takeover of the PLC has taken place between the relevant comparison dates3(both dates inclusive). Provided that in the absence of both the external auditor and the company secretary of the PLC, confirmation by the audit committee4, the person holding the position ofFinancial Controller or the director of the PLC that no merger or takeover of the PLChas taken place between the relevant comparison dates (both dates inclusive) couldbe accepted

Jane Lamb-Ruiz
Specializes in field
Native speaker of: Native in EnglishEnglish, Native in PortuguesePortuguese
PRO pts in category: 443
Grading comment
Many thanks for your help, Jane!

Peer comments on this answer (and responses from the answerer)
agree  Margarita Palatnik
35 mins

agree  marybro
38 mins

agree  Martha Rodriguez
5 hrs

agree  Matthew Smith: but maybe "hidden" shareholders could be used on occasion
13 hrs
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