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converting from a private limited company to a PLC
One of the main reasons, if not the main reason, why a private limited company may want to re-register as a public company is to be able to offer its shares to the public. Once re-registered as a public company, a company may wish to seek admission to trade on a Stock Exchange. Other reasons why a private limited company may wish to convert to a public limited company include the ability for that company to raise finance for its development and growth, to place a market value on the company, to increase the company’s profile and to enhance the company’s status with its customers and suppliers.
A private limited company may be re-registered as a public company if a special resolution that it should be re-registered is passed, certain conditions are met and an application for re-registration is delivered to Companies House, together with other required documents. The company must also make changes to its name and its Articles of Association.
After dealing with all the hurdles that must be overcome before a private limited company can convert to a public limited company, Companies House will re-register the company as a public limited company if the company is entitled to be so re-registered. Companies House are required to issue a Certificate of Incorporation altered to reflect the company’s re-registered status. Upon the issue of the Certificate the company becomes a public company and the Certificate itself acts as conclusive evidence that the requirements of the Companies Act 2006 as to re-registration have been complied with.
If you require any advice or assistance relating to the conversion of a private limited company to a public limited company, please contact one of our Commercial and Corporate Finance Team using the details below