| 单词 | pre-emption rights |
| 释义 | pre-emption rights A principle, established in company law, according to which any new shares issued by a company must first be offered to the existing shareholders as the legitimate owners of the company. To satisfy this principle a company must write to every shareholder (see rights issue), involving an expensive and lengthy procedure. Newer methods of issuing shares, such as vendor placings or bought deals, are much cheaper and easier to effect, although they violate pre-emption rights. In the USA pre-emption rights have now been largely abandoned but controversy is still widespread in the UK. |
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