CG/APP1 - Abbreviations used by Shares and Assets Valuation

This appendix sets out the abbreviations used by Shares and Assets Valuation.

X-CAP - an abbreviation for a capitalisation, or scrip or bonus issue arising when the reserves of a company are capitalised and shareholders are given, without making any payments, shares or securities in the company in proportion to their holding of qualifying shares;

EX RTS - an abbreviation for a `rights issue' where the shareholder is given the right to subscribe to the issue of shares in the company, usually at a preferential price in proportion to his or her holding of qualifying shares.

EX-ENTL - an abbreviation for the entitlements to subscribe to the issue of shares in the company usually at or near the market price in proportion to his or her holding of qualifying shares.

`IK' OR `IK-XD' - applies to all Government or Corporation securities. These are dealt with on the Stock Exchange subject to accrued interest being accounted for between buyer and seller. The amount payable by the purchaser is the bargain price plus an amount equal to the gross interest accrued to the date for which the bargain was done, or, in the case for transactions done `ex-interest', minus an amount equal to the gross interest accruing from the date for which the bargain was done to the interest payment date. `Ik' means that the security is marked `Ik' in the Official List and the valuation is made on the basis of a sale plus interest. `Ik-xd' means that the security is marked `Ik-xd' on the Official List and valuation is on the basis of a sale `ex-interest' that is the value is arrived at by deducting from the quoted price the gross interest accruing from the date of valuation to the interest payment date.

`IM' OR `IM-XD' - has the same meaning as `Ik' or `Ik-xd' above but apply only to loan stock or debenture stock in quoted companies.

NQ - means that the securities are not quoted in the Official Lists of the London Stock Exchange.