preemptive right

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preemptive right

n.
The right of a company's existing stockholders to purchase enough shares to maintain their overall ownership percentage in the event of a new stock issue.
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.preemptive right - the right granting to shareholders the first opportunity to buy a new issue of stock; provides protection against dilution of the shareholder's ownership interest
preemption, pre-emption - the right to purchase something in advance of others
Translations
신주인수권
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References in periodicals archive ?
French oil and gas major Total (PAR: FP) (LSE: TTA) (NYSE: TOT) is exercising its preemption right to acquire US-based Chesapeake Energy's (NYSE: CHK) 75% interests in the jointly held Barnett Shale operating area located in North Texas, the company said.
By tempering the record the official now posted in Banda Daud Shah-Karak had also deprived one Naushad Khan of preemption right (Haq-e-Shufa) , he maintained.
sk website dedicated to energy topics has at disposal, the state has no preemption right for shares offered by Enel for sale.
Some 220 private owners of plots of land in different tourism expansion areas nationwide gave their approval to the preemption right, allowing the use of the land for tourist investment, Mimoun underlined.
The Algerian government said on Friday that OT said it wanted to continue operating in the country, and the government reiterated that it would have the preemption right in any sale.
Despite the federal government's continued emphasis on indigenous ownership, lawyers and land speculators "began to think of the preemption right as the fee simple title, and the Indians' present right of possession as a kind of tenancy that would last as long as the Indians remained on the land," and, furthermore, that this had always been the case.
The Norwegian ministry of oil and petroleum said on Thursday (2 December) that it had decided not to utilise its preemption right to acquire BP Norway's interest in the Ormen Lange field on the Norwegian continental shelf.
With BG having expressed its intention to pull out, the government is now trying to negotiate for Kazmunaygaz to buy its stake--despite the consortium members' previously expressed intention to exercise their preemption right.
12 September 2016 - French oil and gas major Total (PAR: FP) (LSE: TTA) (NYSE: TOT) is exercising its preemption right to acquire US-based Chesapeake Energy's (NYSE: CHK) 75% interests in the jointly held Barnett Shale operating area located in North Texas, the company said.
As clearly indicated in the above Article, existing shareholders of public joint stock companies have a preemption right to subscribe in shares that will be issued as a result of a capital increase.
Eni today revoked the sale and purchase agreement signed on December 18 for the acquisition of Heritage's 50 per cent share in Ugandan Blocks 1 and 3A, on which Tullow Oil has exercised its preemption right," an Eni spokesman said.
Total Exploration & Production USA (Total E&P USA), a division of Total SA (Paris:FP) (LSE:TTA) (NYSE:TOT), on Friday announced that it is exercising its preemption right to acquire Chesapeake's 75% interests in the jointly held Barnett Shale operating area located in North Texas.