 Assignee
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Person who benefits from the assignment of assets or of rights.
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Assignor
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Person who assigns or makes an assignment.
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Book entry shares
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These shares are not represented by a certificate issued by the company. The ownership of a book entry share is represented by the entry in the shares deposit account open on behalf of the shareholder at the depository financial institution, just like a banking account.
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Dividends
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Income paid to each share of a limited liability corporation. It is obtained by dividing the profit share of the financial year to be distributed to shareholders by the total number of shares.
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Exchange and Securities Broker (CCVM)
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Securities brokers are institutions whose business is buying and selling stocks, shares, etc. Buying and selling shares at market price, i.e. based on the securities exchange quotations, can only be performed through a broker. Many brokers act as intermediary parties to buy and sell securitites. Non- members of the securities exchanges execute their customers' orders by subcontracting another broker that is a member of the securities exchange. Only brokers that are members of the securities exchange can execute orders on the securities exchange area. Query on member brokers with Bovespa.
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Holding
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Company whose main purpose is to have common stock interest in other companies. In general it has no operational activities of its own.
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These are the 12 holding companies resulting from the Telebrás breakup:
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| Embratel Participações S/A |
Wireline Telephone |
Long distance domestic
and international, data transmission
and Internet |
| Telesp Participações S/A |
Fixed Telephony |
Local and long distance regional - Region III |
| Tele Norte Leste Participações S/A |
Fixed Telephony |
Local and long distance regional - Region II |
| Tele Centro Sul Participações S/A |
Fixed Telephony |
Local and long distance regional - Region I |
| Telesp Celular Participações S/A |
Celular Telephony |
Region I e II - SP |
| Tele Celular Sul Participações S/A |
Celular Telephony |
Region V - PR,SP |
| Tele Celular Sul Participações S/A |
Celular Telephony |
Region V - PR,SP |
| Tele Nordeste Celular Participações S/A |
Celular Telephony |
Region X - PI,CE,RN,PE,PB,AL |
| Tele Centro Oeste Participações S/A |
Celular Telephony |
Region VII - GO, TO, MS, MT, RO, AC, DF |
| Tele Leste Celular Participações S/A |
Celular Telephony |
Region IX - BA,SE |
| Tele Sudeste Celular Participações S/A |
Celular Telephony |
Region III - RJ,ES |
| Tele Norte Celular Participações S/A |
Celular Telephony |
Region VIII - AM,RR,AP,PA,MA |
| Telemig Celular S/A |
Celular Telephony |
Region IV - MG |
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Local custodian
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The local custodian keeps custody of shares underlying the issued ADRs, accepting deposits and purchase liquidation on the securities exchanges for conversion into ADRs. Tle local custodian of Embratel Participações S.A. is Banco Itaú.
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Ordinary shares
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They grant to owners voting rights at company meetings. On the other hand, owners are entitled to dividend distribution only after payment of the prioritary percentage to which holders of preferred shares are entitled.
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Preferred shares
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Shares which receive a fixed percentage of profits ensured by the law, or by the company's Bylaws. When a preferred share is issued with a cumulative rights clause, its owners are entitled to receive not only the dividends for the current year, but also the dividends of the previous years, provided these dividends were not distributed for any reason whatsoever. In the event the company is in liquidation, the preferred shares are given the same priority.
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Share
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Document representing the ownership of a given portion of a company's capital. There are many types of shares, each one defining various forms of participation in the company's ownership and profits.
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Stock Exchange
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Civil, not for profit association whose main purpose is to maintain a suitable physical location where its members trade stocks and shares on a free, open market basis. It is especially organized and inspected by its own members and by monetary authorities.
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