ex

ex
The opposite of cum, and used to indicate that the buyer is not entitled to participate in whatever forthcoming event is specified (ex cap, ex dividend, ex rights, etc). Exchange Handbook Glossary
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When a stock or dividend is issued by a company it is based upon an "on register" or " record date". However, to create a level playing field when shares are traded on the London Stock Exchange during this benefit period an "ex" date is set. Before this "ex" date if shares are sold the selling party will need to pass on the benefit or dividend to the buying party. London Stock Exchange Glossary

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I. ex ex 1 [eks] preposition
1. COMMERCE TRANSPORT used with a price for goods to show from which place the buyer will be responsible for paying for transport of the goods
2. COMMERCE TRANSPORT ex dock/​quay/​wharf an ex dock, ex quay, or ex wharf price is one where the seller is responsible for taking the goods off the ship in a particular port, and making them available there, but not for transporting them anywhere
3. COMMERCE TRANSPORT TAX ex quay duty paid if a price is ex quay duty paid, it is ex quay with the seller responsible for paying any import taxes
4. COMMERCE TRANSPORT TAX ex quay duties on buyer's account if a price is ex quay duties on buyer's account, it is ex quay with the buyer responsible for paying any import taxes
5. COMMERCE TRANSPORT ex factory/​works an ex factory or ex works price is one where the seller makes goods available to the buyer at the seller's factory, and the buyer is responsible for paying for them to be transported to where they are needed
6. COMMERCE TRANSPORT ex ship an ex ship price is one where the seller will make the goods available on a ship in a particular port, and the buyer is responsible for paying for the goods to be put on land and transported to where they are needed
7. COMMERCE TRANSPORT ex warehouse an ex warehouse price is one where the seller makes the goods available at a particular warehouse, and the buyer is responsible for arranging and paying for the goods to be transported to where they are needed
8. FINANCE used with a share price or bond price to show that the price does not include particular advantages that have been or will soon be available and that might be included, but which instead go the seller — compare cum
9. FINANCE ex all an ex all price for shares is one without any of the advantages that have been or will soon be available, for example dividend S or rights issue S
10. FINANCE ex capitalization also ex capitalisation if shares are sold ex capitalization, the buyer does not have the right to a bonus issue that has been made
11. FINANCE ex coupon/​interest if bonds are sold ex coupon or ex interest, the buyer does not have the right to a particular interest payment:

• Debentures were quoted 6 5/​8 points lower at 113 3/​8, reflecting the fact the bonds went ex coupon yesterday.

12. FINANCE ex dividend if shares or bonds are sold ex dividend, the buyer does not have the right to a particular dividend payment, or with bonds, to a particular interest payment:

• Shares in the firm, which issued a profits warning last month, are expected to fall further today when the stock goes ex dividend.

13. FINANCE ex interest when the price of bonds is ex interest, the person who buys them will not receive the next interest payment on them
14. FINANCE ex rights if shares are sold ex rights, the buyer does not have the right to new shares in a particular rights issue:

• The shares, traded ex rights, finished SFr17 higher at 1,718.

— see also ex VAT
  [m0] II. ex ex 2
abbreviation for excluding, used to show that an amount is not included:

• The desk retails for £349 ex VAT.

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   Means excluding. Thus ex-cap, ex-div, ex-rights. Ex indicates that a buyer of shares does not receive a current capitalization issue, a current dividend or a current rights issue. It is opposite of cum dividend.
   ► See also Cum Dividend.

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ex UK US /eks/ preposition
not including a particular amount: »

It only costs £249 ex VAT!

TRANSPORT used for stating that the price of goods includes transport to a particular place, and then transport arrangements and costs are the buyer's responsibility: »

For units to be shipped ex Dublin, the units have to be booked before 1200 on Saturday.

See also EX DOCK(Cf. ↑ex dock), EX-FACTORY(Cf. ↑ex-factory), EX QUAY(Cf. ↑ex quay), EX SHIP(Cf. ↑ex ship), EX WAREHOUSE(Cf. ↑ex warehouse), EX WHARF(Cf. ↑ex wharf), EX-WORKS(Cf. ↑ex-works)

Financial and business terms. 2012.

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