Public limited company
The initials
plc after a
UK or
Irish company name indicate that it is a
public limited company, a type of
limited company whose
shares may be offered for sale to the public.
The designation
plc or
PLC (either form is acceptable) was introduced in the UK by the Companies Act
1980, and in the Republic of Ireland by the Companies (Amendment) Act
1983. In the Republic of Ireland, the initials "cpt" (for the
Irish cuideachta phoiblí theoranta) may be used instead, but this is rarely the case. Welsh companies may use the letters "ccc" (for
cwmni cyfyngedig cyhoeddus) in similar fashion. Certain public limited companies incorporated under special legislation (mainly
nationalised concerns) are exempt from carrying the letters plc, ccc, or cpt.
When a new company is incorporated in either
England and Wales or
Scotland, it must be registered with
Companies House, which is an
Executive Agency of the
Department of Trade and Industry. In the Republic of Ireland, the equivalent body is the
Companies Registration Office, Ireland. Northern Ireland also has a Registrar of Companies.
Internationally plc status is roughly equivalent to
AG,
S.A.,
N.V. and
Corporation.
When forming (or creating) a PLC there must be:
*at least £50,000-worth (Republic of Ireland: €38,092.14) of share capital of which at least 25% must have been paid for.
*two shareholders
*two directors, one of whom may also be the
company secretary*a certificate of entitlement (the trading certificate) to do business and borrow capital
While it is not compulsory for a PLC to "float" its shares (some PLCs retain ownership of all their shares, maintaining the PLC designation for the extra financial status), many do so, and their shares are usually traded on either the
London Stock Exchange or the
Alternative Investments Market (AIM). Irish public limited companies usually trade on the
Irish Stock Exchange, though many also list on the LSE, or more rarely, the AIM.
*
Private limited company*
Limited liability partnership (LLP) introduced in
2001*
Unlimited company*
List of UK public limited companies*
List of top 1000 PLCs
