As securityholders in Lend Lease Primelife (LLP), you own shares in an Australian company, Lend Lease Primelife Limited (LLPL) and units in a trust which is an Australian registered scheme, Lend Lease Primelife Trust (LLPT). The share in LLPL and the unit in LLPT form a ‘Stapled Security’ and cannot be separately dealt with or traded. Each share in LLPL and each unit in LLPT remain separate assets for Australian capital gain tax purposes.

The subscription price comprises the total application price which is payable for one ordinary share in LLPL and one ordinary unit in LLPT. As result, any market price for each Stapled Security will be the combined price for one ordinary share in LLPL and one ordinary unit in LLPT.

http://www.llprimelife.com/Tax-Information/

ProLogis Management S.à r.l. hereby convenes you to two extraordinary general meetings of investors in PEPR which will take place in view of deciding on a proposal to convert PEPR, currently a fonds commun de placement subject to Part II of the law dated December 20, 2002 on undertakings for collective investment, as amended (the “2002 Law”), into an investment
company with a fixed share capital (société d’investissement à capital fixe) incorporated as a partnership limited by shares (société en commandite par actions) subject to Part II of the
2002 Law as further set out in the letter sent to you by ProLogis Management S.à r.l. on September 7, 2009 (the “Letter to PEPR
Investors”).

The two general meetings of investors in PEPR hereby convened are the following:

(a) the First General Meeting of PEPR, in your capacity as unitholder in PEPR, to be held before notary on September 30, 2009 at 9:00 a.m. CET, in Luxembourg at the offices of Arendt & Medernach located 14, rue Erasme, L-2082 Luxembourg, Grand-Duchy of Luxembourg to resolve on the agenda below; and

(b) the Second General Meeting of PEPR, in your capacity as shareholder in PEPR, to be held before notary on September 30, 2009 at 10:00 a.m. CET, in Luxembourg at the offices of Arendt & Medernach located 14, rue Erasme, L-2082 Luxembourg, Grand-
Duchy of Luxembourg to resolve on the agenda below.

As a result of the adoption of the resolutions regarding items 1 to 14 above, PEPR will be converted into an investment company with fixed share capital (société d’investissement à capital fixe) under the form of a partnership limited by shares (société en commandite par actions), and each Ordinary Unit of PEPR will
be converted into an Ordinary Share of PEPR as described in the articles of incorporation adopted pursuant to the resolutions above.

http://www.euronext.com/fic/000/052/456/524569.pdf

AMSTERDAM (Dow Jones)--ProLogis European Properties nv (PEPR) is van plan zijn rechtsvorm aan te passen, om zo meer financiele flexibiliteit te genereren. Het vastgoedbedrijf meldt woensdag dat het de rechtsvorm wil wijzigen in een 'societe d'investissement a capital fixe' (SICAF), van een 'fonds commun de placement' (FCP). De SICAF-vorm staat in Nederland bekend als Bevak en staat voor 'beleggingsvennootschap met vast kapitaal'. PEPR noemt als een van de voordelen van de nieuwe rechtsvorm de verhoogde financiele flexibiliteit. Het bedrijf is van plan een buitengewone vergadering van aandeelhouders (bava) bijeen te roepen om de verandering van rechtsvorm goed te laten keuren.

http://web01.depers.nl/beursnieuws/7471189/PEPR-wil-rechtsvo...

12/01/2010
ProLogis European Properties, or PEPR, which listed on Euronext Amsterdam on 22 September 2006, is the largest pan-European owner of high quality distribution and logistics facilities.
Established in 1999, PEPR is a real estate investment fund (organised as a Luxembourg closed-ended fonds commun de placement) externally managed by a subsidiary of ProLogis, the world’s largest owner, manager and developer of industrial distribution properties.

http://www.prologis-ep.com/pepr/media/releases/2010/12012010...

Fonds commun de placement translates to "investment funds" or "mutual funds", and are open-ended collective investment funds based that are neither trust or company law based. They are similar to Common contractual funds in Ireland.

In France, commonly referred to as FCP or F.C.P., these financial instruments are collective investments that are similar to the Sicav; both exist alongside one another. They aren't investment companies; they're more like open partnerships. They have no independent legal status but exist as a set of defined relationships between investors, managers and custodian. They invest in different financial instruments, but they do not have the tax status of the SICAV.

(http://en.wikipedia.org/wiki/Fond_commun_de_placement))

A unit trust is a form of collective investment constituted under a trust deed.

Found in Australia, Ireland, the Isle of Man, Jersey, New Zealand, South Africa, Singapore, and the UK, unit trusts offer access to a wide range of securities.

Unit trusts are open-ended investments; therefore the underlying value of the assets is always directly represented by the total number of units issued multiplied by the unit price less the transaction or management fee charged and any other associated costs. Each fund has a specified investment objective to determine the management aims and limitations.

http://en.wikipedia.org/wiki/Unit_trust

Op grond van deze informatie ben ik geneigd te concluderen dat gebruik van de term "ordinary unit" dan wel "ordinary share" afhangt van de rechtsvorm van de organisatie waarin men belegt / geïnvesteerd heeft. ( bij een "trust" of "fonds commun de placement" spreekt men van "unit").

Omdat die verandering van rechtsvorm bij PEPR kennelijk niet is doorgegaan behalve dan dat de rechtsvorm verandert is van "fonds commun de placement" in "closed-ended fonds commun de placement", spreekt men, denk ik, nog steeds van "units" in plaats van "shares".

Voor de vertaling maakt het allemaal niets uit zo lijkt het:

unit trust - beleggingsfonds
unit holder - aandeelhouder in beleggingsmaatschappij
unit - aandeel in beleggingsmaatschappij

van Dale

zie ook discussion entry