Shareholders' guide - Glossary




BALO – Bulletin des Annonces Légales Obligatoires

(Bulletin for compulsory legal notices)
The Aéroports de Paris legal notices are published here.
BALO, 26, rue Desaix – 75015 Paris
http://balo.journal-officiel.gouv.fr

Bearer

Type of Shareholding For the name of bearer shares, the company must conduct an Identifiable Bearer survey.

Capital increase

Issue of new shares to existing and/or new shareholders. The money raised has increased company cash. In return, equity is increasing.

Capital - Equity

Capital belonging to shareholders. They include the subscriptions of capital, retained earnings and earnings for the year.

Contract notes

Document written by financial intermediaries to their client following an order (purchase/sale) describing the conditions for implementing this order.

Corporate value

This is the sum of the company's market capitalisation and its net financial debt.

Custodial fees

Fees charged to ensure the safekeeping and the service of securities registered in an account. Registered shareholders do not pay custodial fees. Furthermore, the shares subscribed during the Open Price Offer (reservations and A orders only) are exempt from custodial fees for a period of 18 months from the settlement.

Distribution rate

A percentage of the net income distributed to shareholders in the form of dividends.

Dividend

The share of a company's net income distributed to shareholders. Its amount is proposed by the Board of Directors and approved by the shareholders in the General Meeting.

Earning per Share – EPS

Net income Group share divided by the number of shares comprising the company's capital.

Ebidta

Current operating income plus depreciation, amortization and impairement of fixed assets, net of recovery.

Eurolist

A unique list of values replacing Euronext's First, Second and New Market since January 2005. Companies are listed alphabetically but ordered in three categories according to their market capitalisation: Sub-fund A, B ou C.

Floating

A fraction of a company's capital held by the public (except employee shareholders via a FCPE).

French financial markets authority (AMF)

Founded on 17 July 2003, the AMF's mission is to develop the regulations of financial markets, to ensure the protection of savings invested in securities, to monitor the financial information provided to investors and to propose measures to improve the proper functioning of markets.
www.amf-france.org

Gearing – Debt rate

Reported net financial debt to equity.

Institutionnal investors

Financial institutions required to invest a significant portion of their funds in securities.

ISIN Code (International Securities Identification Number)

International identification number for listed securities. It is composed of 2 letters indicating the issuing country and 10 figures.

Liquidity

Volume of shares traded divided by the number of shares comprising the company capital.

Liquidation

Monthly deadlines when transactions are settled through the deferred settlement service.

Listing

This is the last price at which a transaction took place, resulting from the interaction of supply and demand.

Market capitalisation

The value assigned by the Stock Exchange to a company at a given time. This is also equal to the share price multiplied by the number of shares.

OPA – OPE

Takeover bids or Public Exchange Offers

 

A takeover bid consists of offering the shareholders of a company the chance to redeem all their shares at a certain price. The takeover bid must address all shares. In general, a takeover bid can take control of a company by offering shareholders a price above the market price. The takeover bid may be friendly (the target agrees to be acquired) or unfriendly (there is no agreement between the two companies and the target will then try to retaliate).
The Public Exchange Offer seeks to take control of a company. But instead of offering to repurchase shares at a specified price (as in the case of a takeover), a payment in shares of the company launching the offer is proposed.

PER

 Price Earning Ratio or capitalisation ratio of net income. The relationship between the share price and the net income per share. It compares the assessment of different shares.

Performance

The relationship between the dividend per share and stock price of the share.

Pure registered shares

Securities listed in the company's registers.

Quorum

The minimum representation of shareholders required for the a General Meeting to deliberate. To deliberate validly, the General Meeting must collect 1/5th of the shares on the first meeting. No quorum is required on the 2nd meeting. For an extraordinary General Meeting, the quorum is ¼ of the shares on the 1st meeting and 1/5th on the second meeting.

Rating – rating agency

Note issued by a specialised agency assessing the risk of default by a borrower. The rating given to a borrower largely determines the borrowing conditions it can access.

Registered shares

Securities held within a PEA (Shares Savings Plan) or in a registered shares securities account. This allows the shareholder to receive personalised information about Aéroports de Paris.

SBF 120

The index is composed of 40 stocks from the CAC index to which are added 80 stocks from the most liquid market. This is one of Euronext's leading Indices.

Share capital

The share capital consists of all contributions (cash, industry and nature) made by the shareholders at the time of a company's creation or share capital increase. On the balance sheet, it appears as the product of the number of shares by their par value.

Self-funding

Financial surplus generated by a company's activity.

Share

Share capital of the company; the capital of the company is divided into a number of shares that all have the same nominal amount.

Shares Savings Plan (PEA)

Shares Savings Plan (PEA) A contract offered to investors who wish to invest in a five-year minimum timeframe while benefiting from tax advantages.

SRD

Deferred Settlement Service. For the most liquid securities, A paying service to only pay for Stock purchases at the settlement date. Aéroports de Paris shares are eligible for SRD.

Sub-fund A

Eurolist sub-fund bringing together those values with a market capitalisation of more than 1 billion euros.

UCITS

Undertaking for Collective Investment in Transferable Securities: Sicav or Investment Funds.

Unrealized appreciation (depreciation)

The difference between the share sale price and its purchasing price.