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première branchie postéro-diaphragmatique
Feb 21, 2020 17:04
4 yrs ago
40 viewers *
French term

liquidité

French to English Bus/Financial Finance (general)
A shareholders' agreement contains the following sentence: 'Dans l'hypothèse où le Fondateur envisagerait une *liquidité* sur 100 % du capital social et des droits de vote de la Société, il devra tout d'abord mettre en oeuvre la procédure du Droit de Préférence prévu ci-dessous'. I understand that the concept of 'liquidity' usually refers to converting something into cash but have been thrown by this due to the inclusion of voting rights in the sentence, as I have never come across the term used in this way before.
Thanks in advance if you're able to help me on this.
Proposed translations (English)
4 dispose
4 a payment-up (of shares in respect of)
3 liquidity
2 liquidation
References
Interesting reading to understand the context

Discussion

mchd Feb 21, 2020:
@ Sarah
Dans ce cadre, avec plus contexte, il s'agit bien du Fondateur qui se dessaisit/qui vend ses parts sociales et donc ses droits de vote. C'est une utilisation du mot "liquidité" bien inhabituelle ! Bon courage
Wolf Draeger Feb 21, 2020:
Sell? It does sound as though it's about if the founder wants to sell the company and the backer or silent partner has first dibs on buying it.
Sarah Russell (asker) Feb 21, 2020:
mchd, le droit de préférence appartient au "Associé Stratégique" au cas où le Fondateur envisage de transférer le contrôle de la société. L'Associé Stratégique a le choix d'effectuer une "Notification d'Achat au Prix Proposé" ou une "Notification d'Achat à un Prix Inférieur au Prix Proposé", à défaut de quoi il sera réputé avoir renoncé à l'exercice de son droit.
mchd Feb 21, 2020:
Que dit la procédure du Droit de Préférence ?
Apporte-t-elle un éclairage sur la liquidité au sens de "liquider" = se dessaisir des 100% du capital social et des droits de vote ?
philgoddard Feb 21, 2020:
I'm pretty sure from the context that it means cancel the voting rights, though this does seem a rather odd way of expressing it.

Proposed translations

2 days 17 hrs
Selected

dispose

when the Founder wishes to dispose 100% of the company shares and [associated] voting rights....or something along those lines.

I agree with Wolf and think that it means that if the Founder shareholder sells (cashes in) its shares, the Preference process is initiated in favour of the Strategic shareholder who will then have first dibs. Mentioning voting rights merely confuses the sentence! I chose dispose so that it works well for the shares and the rights

Selling or disposing of shares
Calculating CGT is straightforward if your shares are all the same class and were acquired at the same time.
https://www.revenue.ie/en/gains-gifts-and-inheritance/transf...

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Note added at 2 days 18 hrs (2020-02-24 11:53:46 GMT)
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or dispose OF 100% of the....
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4 KudoZ points awarded for this answer. Comment: "Thanks to Julie and the others who helped get to the bottom of this! 'Dispose' definitely seems to fit the context here."
5 mins

liquidity

My opinion.
Peer comment(s):
neutral mchd : traduction mot pour mot mais hors contexte !
2 hrs
neutral AllegroTrans : Anything to back this up (in CONTEXT)?
3 hrs
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5 hrs

liquidation

Hello
I hesitate as my expression seems to have two distinct and almost contradictory meanings: The first one below is what I want of course while the second one isn't. But maybe this will get the ball rolling with other ideas in line with Phil who first solved what "liquidité" probably means in this context

"A stock liquidation occurs when stock shares are converted into cash. In most instances, stock liquidation occurs when shareholders sell their shares on the open market for ready cash. Other examples are when one company acquires another and sells off its shares and when a company ceases operations."
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19 hrs
French term (edited): une liquidité (sur)

a payment-up (of shares in respect of)

I am sure it means 'une liberation des actions', to wit: co. shares need to be fully paid up - no calls on shares outstanding, for full voting rights to be exercisable in respect of ordinary of BrE preference shares AmE preferred stock - and *representing 100% of the share capital*.
Reference:

http://www.proz.com/kudoz/english-to-french/law-general/750302-paid-up-shares.html

http://www.proz.com/kudoz/english-to-french/bus-financial/378065-there-has-been-called-up-on-each-of-shares.html

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Reference comments

18 hrs
Reference:

Interesting reading to understand the context

This article explains how the take stakeholders receive following the sale of a startup can vary depending on the statuts that may or may not have been put in place at the outset.
Reference:

https://medium.com/strasbourg-startups/le-pacte-dassoci%C3%A9-la-liquidit%C3%A9-pr%C3%A9f%C3%A9rentielle-7513f056e21d

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