Public Limited Companies
A Public Limited Company (known as a “PLC”) offers the prestige to those that own and operate such a company, but there are some drawbacks.
Public Limited Company Characteristics
A UK Public Limited Company may offer to sell its shares to the public. Before it is allowed to trade a PLC must satisfy Companies House that at least £50,000 of shares have been issued and that each share has been paid up to at least a quarter of its face value. It is important to note that the shareholders are potentially exposed to GBP50,000 in total.
A Public limited company has to have a minimum of two shareholders and a minimum of two persons acting as company directors. The company secretary must be a person that can demonstrate he/she has the necessary skills and experience to carry out their duties adequately. We can provide a Company Secretary for PLC’s.
The Company Secretary must:
- have had a position of company secretary or alternatively have been a deputy company secretary as at 22 December 1980, or
- have been a company secretary for three out of the last five years with a company which is non private or
- be a legal person with the appropriate qualifications obtained in the UK or
- have the confidence of the directors who feel that due to the persons experience and knowledge can discharge the required duties in the manner expected or
- be a member of one or more of these professional organisations:
- the ICAEW
- the ICAS
- the ICAI
- the ICSA
- the ACCA
- the CIMA
- the CIPA
How to Order a Public Limited Company
Please contact our public limited company specialists for further information.