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Letter to shareholders 
A letter from the company's top executive, which usually provides an overview of the company's performance over the past year and the mission of the company.

Liability, liabilities (plural.)
Anything that a company or individual is required to pay back, like a debt or loan

Leading Indicators
These are economic variables, which have been found to signal future changes in the economy.

Licensed Full or Associate Member
Means a full or associate  member  who  holds  a valid license from the Authority.

Limit Price
The price specified when a limit order is placed with a broker.  It involves defining the maximum purchase price or   minimum selling   price at which the order is to be executed.

Listed Company
Means an issuer any part of whose shares have been listed.
Listed Book-entry Security
Means   a   book-entry   security   listed   on   a securities exchange in Kenya
Listed Security
A security that can be traded   on   a   stock exchange.