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Glossary E

Earnings per share (EPS)
Fraction of the corporate profit due to the owner of one ordinary share.

ECB (European Central Bank)
Central bank created to monitor the monetary policy of the euro nations.

Embedded value
Embedded value is an actuarially determined estimate of the value of a company, excluding any value attributable to future new business. It is defined as the sum of shareholders’ net assets, valuing assets at market value, and the value of in-force business.

Extraordinary General Meeting
Shareholders’ meeting held to decide matters of particular importance, such as changes to the Memorandum and Articles of Association, issuing of debentures (for public limited companies) and, where the company is in receivership, the appointment and powers of the receiver.