Glossary
This website, the brochure, the subscription form, the prospectus and the financial leaflet contain certain terms that warrant a short explanation.
- AFM - the Netherlands Authority for the Financial Markets in Amsterdam supervises the behaviour of everyone operating on the market with respect to saving, lending, investing and assurance. the AFM is advising everyone involved in financial dealings with a financial institute, to check the Institutes Register for securities services. NBZ Management has been registered there and is entitled to act as an administrator of funds.
- Trading NBZ shares - NBZ shareholders can trade their shares with whomever they want. If so requested, NBZ can play an intermediary role in May of every year. Upon your request, NBZ will purchase a maximum of 10% of the outstanding share capital at the intrinsic value.
- Subordinated loan - If NBZ provides a subordinated loan, it finances (a part of) the equity capital to the owner of a ship. The interest on this loan is higher than average. The risk is greater. In case of bankruptcy, the banks are paid before a subordinated loan is repaid. The following considerations play a decisive role in the decision whether or not to provide a subordinated loan: the credit worthiness of the shipping company, the transportation contracts of the ship for the short and medium term and other extra security arrangements, including granting a (second) mortgage on the ship to be financed.
- Sale & Leaseback construction - With a sale & leaseback construction, a shipping company sells its ship to NBZ, who subsequently rents the ship back to this ship owner. This way, the shipping company keeps the ship in its fleet and can they can extend its fleet with the extra equity capital (the sales proceeds of the ship). If NBZ finances a shipping company using this construction, a fixed rental price will be agreed upon with the shipping company for almost the entire leaseback period. At the same time, in most cases it will be agreed that the ship owner will repurchase the ship at a certain price.
- Corporate entities - NBZ a unique investment also for corporate entities, like ‘Pension BVs’. If they participate with at least seven shares, they can use the share exemption without ever having to purchase extra shares, as due to the structure of NBZ their interest cannot be diluted. Due to the share exemption of double corporate taxation, corporate entities do not pay tax on the dividend obtained. If you want to participate through your own company, you must enter the full company name on the subscription form.
- Stichting Beleggingsrekeningen NBZ - NBZ investors can open an investment account with the Stichting Beleggingsrekeningen NBZ (NBZ investment accounts foundation) managed by the ANT Trust from Amsterdam. The ANT Trust issues A shares to private parties and issues B shares to corporate entities.
- Share price - the shares of NBZ will be issued at the share price immediately after this is has been established. This will be established on a monthly basis and announced on this site. This always takes place on the 16th of every month, unless this is a holiday, a Saturday or a Sunday. In that case the new share price will be announced on the previous or following working day. The share price is equal to the net asset value of NBZ divided by the number of outstanding shares. In this way, the share price of August, for instance, is based on the net asset value at the end of July.
