• [P] [P]

    • Partial offer

      For the purpose of Module TMA, a partial offer is an offer with the consent of the CBB to all shareholders to acquire a portion of the remaining outstanding shares of the offeree company.

      Added: July 2011

    • Partial underwriting

      Partial underwriting means the underwriter provides the issuer with a commitment to guarantee a sale of a certain portion of the total issue and in the case of under-subscription, by purchasing the balance of the securities.

      Added: January 2014

    • Payable-through Account

      Means an account/crypto-asset wallet maintained at the Capital Market Service Provider by the respondent financial institution for the provision of correspondent account services, but which is accessible directly by a third party to effect transactions on its own behalf.

      Added: January 2020

    • Participant

      For purposes of Module MAE in Volume 6 of the CBB Rulebook, means a person who may participate in one or more of the services provided by a licensed exchange or a licensed market operator in its capacity as a licensed exchange or licensed market operator respectively.

      Added: July 2016

    • Paying agent

      An agent that receives funds from an issuer of securities and in turn pays principal and interest to debt securities holders and dividends to shareholders.

      Added: January 2014

    • Payment

      Means the final transfer of funds from the buyer to the seller.

      Added: July 2011

    • Permanent insider

      Means members of the Board of Directors of a company, its senior management, the Issuer itself, and such other persons as decided by the Issuer's Board to have access to inside information relating to the Issuer from time-to-time.

      Added: July 2011

    • Person(s)

      Means a natural or legal person, corporation, limited liability company, joint stock company, partnership, association, trust, fund or any organized group of persons whether incorporated or not.

      Amended: July 2016
      Added: July 2011

    • Placing

      Placing means to market new securities. The term applies to both public and private sales but is more often used with reference to direct sales to institutional investors, as in private placement. The terms float and distribute are preferred in the case of a public offering.

      Added: January 2014

    • Politically exposed person (PEP)

      Means individuals who are, or have been, entrusted with prominent public functions in Bahrain or a foreign country, such as Heads of State of government, senior politicians, senior government, judicial or military officials, senior executives of state-owned corporations or important political party officials or persons who are or have been entrusted with a prominent function by an international organisation. Business relationships with immediate family members (i.e. spouse and children, including step-children or adopted children) or close associates of PEPs involve reputational risks similar to PEPs themselves. The definition is not intended to cover middle-ranking or more junior officials in the foregoing categories. Bahraini PEPs would include all Ministers, all MPs, and all Ministry officials with the rank of Undersecretary or above.

      Amended: July 2016
      Added: July 2011

    • Position

      In relation to a securities or futures contract, means a securities or futures contract which is outstanding and which has not been liquidated:

      (a) By an off-setting transaction;
      (b) By delivery of the securities or the commodity (or any other asset class) underlying the futures contract;
      (c) Through settlement of the securities or futures contract in accordance with the business rules or practices of a securities or futures market, as the case may be; or
      (d) By substituting the futures contract for a cash commodity.
      Added: July 2011

    • Preliminary/red herring prospectus

      The first document released by an issuer or underwriter of a new issue to prospective investors. The document offers financial details about the issue but does not contain all the information that will appear in the final or statutory prospectus, and parts of the document may be changed before the final prospectus is issued.

      Added: January 2014

    • Private offer

      An offer of securities for a specific group of persons.

      Added: January 2014

    • Private placement

      An offer to accredited investors, selected or accepted by the issuer or the appointed lead manager for obtaining subscriptions for securities of an issue, or for obtaining subscription for sale of securities by an underwriter or lead manager.

      Added: January 2014

    • Professional adviser

      Means an independent financial institution or other entity specialising in corporate finance who meets the eligibility requirements, has an acceptable track record and is authorised to act as a professional adviser by the CBB.

      Amended: October 2019
      Added: July 2011

    • Profit

      Includes the avoidance of any loss.

      Added: July 2011

    • Property

      In relation to a market charge or market collateral, means:

      (a) Money, letters of credit, banker's drafts, certified cheques, guarantees or other similar instruments;
      (b) Securities listed and deposited with the central depository;
      (c) Futures contracts and any similar financial contract; or
      (d) Other assets of value acceptable to a licensed clearing house or central depository.
      Added: July 2011

    • Proprietary trading member(s)

      Means a locally incorporated entity or an eligible foreign institution accepted as a member by a licensed exchange and authorised by the CBB, and who conducts trading only for its own account or funds and who does not trade or accept instructions on behalf of clients or other third parties.

      Amended: July 2016
      Added: April 2013

    • Prospectus

      An offering document that sets forth the plan for a proposed business enterprise or the facts concerning an existing one that an investor needs to make an informed decision. The prospectus contains financial information and a description of an issuer's business history, officers, operations, pending litigation (if any) and plans (including the use of the proceeds from the issue).

      Amended: January 2014

    • Public offer

      An offer of securities to the general public.

      Added: January 2014

    • Purchase

      In relation to securities, includes, in the case of an option contract under which a party acquires an option or right from another party, acquiring the option of right under the contract, or taking an assignment of the option or right, whether or not on another's behalf.

      Added: July 2011