Bearer share

Bearer share

Security not registered on the books of the issuing corporation and thus payable to possessor of the shares. Negotiable without endorsement and transferred by delivery, thus avoiding some of the control associated with ordinary shares. Dividends are payable upon presentation of dividend coupons, which are dated or numbered. Applies mainly to international equities.

Bearer Stock

A stock that contains no ownership information and whose physical bearer is presumed to be the owner. Bearer stocks may be bought and sold without endorsement. They are quite rare.
References in periodicals archive ?
The legal persons can also take the form of offshore companies as any shareholder can form a company or its permitted under bearer share certificates and many other factors.
In an effort to fight money laundering, the amendments include the abolition of bearer share and the creation of a consortium of companies working in the field of securities.
Nescol Limited and Nielson Holdings Limited were incorporated in BVI in 1993 and 1994, respectively, and were held by one bearer share each.
With regard to Cyprus' rating and the way forward the press release noted that "all legal and regulatory issues identified in the first phase of review were dealt with through the enactment into law of appropriate provisions, like explicitly stating in the law (in addition of common law provisions) the information that should be available on a trust, removing references to Companies' Law which allowed the issue of bearer share warrants in public companies (a provision that does not seem to have ever been used), the need for Cyprus incorporated but not tax resident companies to file tax returns with Cypriot authorities etc.
Carl Levin, chairman of the Senate's permanent subcommittee on investigations, in a statement said about HSBC and its United States affiliate HBUS: "Due to poor AML [anti-money laundering] controls, HBUS exposed the United States to Mexican drug money, suspicious travelers checks, bearer share corporations, and rogue jurisdictions.
The public offer will be made at a 27.3% premium to the average price of the 30 days prior to the announcement, amounting to CHF57.50 per bearer share and CHF28.75 per registered share.
They vary from -21% (Swiss Re registered share) to 67% (Pirelli bearer share), with an average of 13%.
The Annual General Meeting will be asked to pay an unchanged cash dividend of CHF 3.00 per bearer share. During the 2018 reporting year, Datwyler used its position of strength to set a course for future profitable growth, which included expanding production capacity for high-quality components for the health care market and acquiring two attractive businesses.
In 2006, the bearer share certificates of Nielsen and Nescoll were changed into registered shares with Minerva Services Ltd whose management company was Trustee Services Ltd.
SCM has offered 0.52 shares of its common stock for every one bearer share in Bluehill ID.
In view of the steady profitability level and given that prospects look promising, the Annual General Meeting decided on an unchanged dividend of CHF 3.00 per bearer share and CHF 0.60 per registered share.
Bearer shares are authorized if the bearer share certificates are retained in the protected custody of persons or financial institutions authorized by the Minister of Finance.