Public limited companies
PLCs are very heavily regulated by statute, far more so than for a private company and some of the concessions available to private limited companies are not available to PLCs.
PLCs are not able to neither avail themselves of the elective regime nor pass a resolution by way of a written resolution, and the rules for issuing dividends are stricter and there are codes of conduct for directors.
Finally, there is a shorter period for the laying of accounts with Companies House; only six months after the end of its accounting reference period.
A PLC must by law have:
- a minimum of an authorised share capital of £50,000; and,
- allotted shares to the value of £50,000 of which 25% of each allotted share must be fully paid up.
We can assist you setting up your PLC.
Please contact:
Steen Rosenfalck - Partner