Public limited company Definition

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GLOSSARY

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What does Public limited company mean?

A private limited company under the Companies Act 2006 has the characteristics of a limited company and public company combined.

A company is said to be a 'limited company' if the liability of its members is limited by its constitution. A 'public company' within the meaning of the Companies Act 2006 is a company limited by shares, or limited by guarantee and having a share capital, where (1) its certificate of incorporation states that it is a public company; and (2) in relation to the requirements of the Companies Act 2006, or the former Companies Acts, as to the registration or re-registration of a company as a public company have been complied with on or after 22 December 1980. The name of a limited company that is a public company must end with the words 'public limited company' or 'plc'. (Halsbury's Laws of England, 14 (5th), 200.)

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Preparing a company for admission to AIM

This Practice Note examines the keys steps and issues that a company will need to take and consider prior to commencing the process of applying for an initial admission to trading on AIM, a market operated by the London Stock Exchange (LSE).Certain key steps and issues will need to taken and considered by a company (company) prior to commencing the process of applying for an initial admission to trading on AIM (AIM admission).Initial considerationsThe AIM admission process typically takes between three to six months to complete from the initial all parties meeting and will involve a considerable amount of management time. It is important that prior to commencing this process the company gives careful consideration to:•the reasons for the company seeking an AIM admission, eg raising capital, creating liquidity for the company's shares, enabling incentivisation of employees, raising the profile of the company etc, and whether it is right for the company in the specific circumstances. In particular, consideration should be given to the available alternatives to AIM admission, eg:◦where...

Structuring a takeover—offers vs schemes of arrangement

Structuring a takeover—offers vs schemes of arrangement This Practice Note contrasts and compares the principal features of the two most commonly utilised transaction structures for the acquisition of a UK public limited company (or any other company governed by the City Code on Takeovers and Mergers (Code)), ie takeover offers and schemes of arrangement, and examines the key differences between the structures. This Practice Note includes a summary table: Key advantages and disadvantages of offers and schemes, but for a more detailed look at the advantages and disadvantages, from the offeror’s perspective, of effecting a takeover by way of a scheme of arrangement, see Practice Note: Schemes of arrangement—advantages and disadvantages. Offers and schemes There are two primary methods of implementing a takeover of a UK public company: • by way of a contractual takeover offer under section 974 (offer) of the Companies Act 2006 (CA 2006) • by way of a scheme of arrangement under CA 2006, Pt 26 (scheme) While takeovers of a UK public...

Discover our 1 Practice Notes on Public limited company

Offer document—definitions (Appendix 5)

Offer document—definitions (Appendix 5) Appendix [5]—DEFINITIONS The following apply throughout this document unless the context otherwise requires: [Offeree] or the Offeree • [insert full name of offeree] PLC, a public limited company incorporated in [insert country of incorporation] with registered number [insert number] [Offeree] Directors • the directors of [Offeree] at the date of this document, as set out in paragraph [insert number] of Appendix [4] [[Offeree] Group • [Offeree] and its subsidiary undertakings] [[Offeree] Optionholders • holders of options in the [Offeree] Share Option Scheme [Offeree] Shareholders • holders of Shares [[Offeree] Share Option Scheme • any of [insert names of all the share option schemes operated by offeree]] [Offeree] Warrantholders • holders of [Offeree] Warrants [Offeree] Warrants • the warrants to subscribe for Shares issued under the [Offeree] share warrant instrument dated [insert date]] [Offeror] or the Offeror • [insert full name of offeror], a [public OR private] limited company [and a wholly owned subsidiary of [Offeror Parent]], incorporated in [England...

Scheme document—definitions

Scheme document—definitions DEFINITIONS The following apply throughout this document unless the context otherwise requires: [Offeree] or the Offeree • [insert full name of offeree] PLC, a public limited company incorporated in England and Wales with registered number [insert number] [Offeree] Directors • the directors of [Offeree] at the date of this document, as set out in paragraph [insert number] of Part [Seven] [Offeree] General meeting • the general meeting of [Offeree] convened by the notice set out in Part [Ten] (Notice of [Offeree] General Meeting) of this document, including any adjournment thereof [[Offeree] Group • [Offeree] and its subsidiary undertakings] [[Offeree] Optionholders • holders of options in the [Offeree] Share Plans [Offeree] Shareholders • holders of [Offeree] Shares [[Offeree] Share Plans • any of [insert details of any share option schemes or similar operated by offeree]] [Offeree] Shares • the ordinary shares of [insert nominal value] each in the capital of [Offeree] [Offeree] Warrantholders • holders of [Offeree] Warrants [Offeree] Warrants • the warrants to subscribe for...

Dive into our 9 Precedents related to Public limited company

3 Limited and unlimited companies

(1) A company is a “limited company” if the liability of its members is limited by its constitution.It may be limited by shares or limited by guarantee.(2) If their liability is limited to the amount, if any, unpaid on the shares held by them, the company is “limited by shares”.(3) If their liability is limited to such amount as the members undertake to contribute to the assets of the company in the event of its being wound up, the company is “limited by guarantee”.(4) If there is no limit on the liability

4 Private and public companies

(1) A “private company” is any company that is not a public company.(2) A “public company” is a company limited by shares or limited by guarantee and having a share capital—(a) whose certificate of incorporation states that it is a public company, and(b) in relation to which the requirements of this Act, or the former Companies Acts, as to registration or re-registration as a public company have been complied with on or after the relevant date.(3) For the purposes of subsection (2)(b) the relevant date is—(a) in relation to registration or re-registration

Public limited company is referenced 2 in UK Parliament Acts

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