Unlisted shares

Unlisted shares are equity securities not listed on an exchange. Equity securities include shares issued by unlisted limited liability companies as follows: capital shares which give the holders the status of joint owners and entitle them to a share in the total distributed profits and to a share in the net assets in the event of liquidation; redeemed shares whose capital has been repaid but which are retained by holders who continue to be joint owners and to be entitled to a share in the profits left after dividends have been paid on the remaining registered capital and also to a share in any surplus which may be left on liquidation; dividend shares, also called founders’ shares, profits shares, and dividend shares, which are not part of the registered capital. Participating preference shares or stocks, which entitle holders to participate in the distribution of the residual value of a corporation on dissolution.