Golden share
A special state right to take part in governing a company: not a security, but powers vested in a government representative.
How to read the number
It allows particular decisions to be blocked — reorganisation, major transactions, amendments to the articles — regardless of any stake in the capital.
When the metric lies
It is invisible in an ownership table: it occupies no share of capital and claims no profit, yet it changes the arithmetic on the decisions that matter most.
Also known as: golden share