Nil-Paid

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Nil-Paid

A tradeable security that did not incur any costs on its original owner. A common example is renounceable cum rights on a stock, which are attached to a stock and are issued to the original owner free of charge. However, the owner may separate the cum right from the stock and sell it. Thus, while a nil-paid has value, at least insofar as there are potential buyers, it does not cost the original owner anything in order to acquire it. Therefore, it results in pure profit when it is sold.
References in periodicals archive ?
Melrose's shareholders approving Melrose's acquisition of Elster for purposes of the United Kingdom Listing Authority listing rules and approving Melrose's rights issue of Melrose ordinary shares in the United Kingdom and the admission of such rights issue to trading, nil paid, on the London Stock Exchange;
The Cyprus Securities and Exchange Commission has approved the Marfin Popular Bank prospectus for the issue and listing of 976,335,208 nil paid rights available only in Cyprus, Greece and the United Kingdom.
West Midland automotive components group Wagon (WAGN) has further delayed dealings in nil paid rights issue that had been due to start on Tuesday.
On small holdings, it can often make sense to take up the rights allocation to avoid the cost of paying a broker to sell nil paid rights in the market.
Dealings in 134,722,122 new ordinary shares in nil paid form will commence on
This announcement does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to acquire, the Rio Tinto plc Nil Paid Rights, Rio Tinto plc Fully Paid Rights, Rio Tinto Limited Rights, Rio Tinto plc Provisional Allotment Letter, Rio Tinto Limited Entitlement and Acceptance Forms or New Rio Tinto plc Shares or New Rio Tinto Limited Shares offered by any person in any jurisdiction in which such an offer or solicitation is unlawful.
Officer and a Director of the Company, sold 23,477 nil paid rights in
4 mln nil paid rights when trading begins at the price of EUR 0.
With some investors recently reported as aggressively selling bank shares to force the price down, a cheap way to lock in any gains they have made is to buy the nil paid shares.
Alternatively, the nil paid rights could be sold and/or existing positions in Ultraframe could be realised through the open market.
It is expected that Nil Paid Rights will be credited to the stock
The securities offered in the Rights Issue, including the nil paid rights, the fully paid rights, the provisional allotment letters and the new Ordinary Shares, have not been and will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.