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Digital Company Formation

What is a UK Public Limited Company?

UK PLC Company Formation

What is a UK Public Limited Company?

A UK public limited company is historically the format a limited company must adhere to should it wish to be listed on the London Stock Exchange (LSE) or another share listing body where company shares are available for the general public to purchase for investment. However, notwithstanding the above most UK PLC’s are not listed – a process, which is very costly and involves strict listing rules, underwriters, brokers and lawyers – and are bought simply for prestige purposes.

Are there any special rules?

Yes, even if a PLC is not publically listed it is subject to many different rules and procedures compared to an ordinary private limited company, namely:

  1. There need to be at least two directors
  2. The memorandum and articles of association are in a different format with often a different ‘table’ format
  3. A PLC cannot trade until it has obtained a ‘trading certificate’ where-by a director confirms that the PLC has at least an issued share capital of £50,000.00, with at least 25% of the said capital being fully paid up at the time of incorporation
  4. A PLC is subject to a far more strict accountancy regime than an ordinary limited company and in particular cannot submit abbreviated accounts and further such accounts must be readily made available to the public together with full combined register and director, shareholder details
  5. A PLC is still required to have a company secretary and further such secretary must be a qualified individual namely a solicitor, certified or chartered accountant, barrister or certified company secretary (Services that Starting My Business can provide)

Buy a UK PLC