UK Public Limited Companies
Raising Capital in London
Around 400,000 companies are formed in the UK every year. The City of London has historically been associated with finance and raising capital. The UK Government is always striving to make UK companies competitive in the world market. Some current advantages UK companies enjoy are:
- Tax relief on disposal of substantial shareholdings
- Modern tax regime for treatment of intellectual property
- R&D tax credit at 25% for large companies
- Tax relief on interest for buying participation's in foreign companies
- Modern system of double tax relief
- Low costs for raising capital
Entry level for most companies is the PLUS Market (formally called OFFEX)
AMP & Partners Ltd can assist clients with all the necessary requirements needed to list a UK plc on the Stock Exchange in London. Services include:
- Preparation of the Prospectus
- Liaison and introduction to investment banks
- Liaison, recommendation and engagement of sponsor for listing
- Gaining approval to list on the PLUS exchange and completing related IPO fundraising
Please do not hesitate to Contact Us for further information.
UK plc Statutory Requirements
Legislation concerning a UK Public limited company (PLC) - the company's shares may be offered for sale to the general public. The offer document must be drafted in compliance with UK legislation and a copy submitted to Companies House.
Before a UK plc can start business, it must have allotted shares to the value of at least £50,000. A quarter of them, £12,500, must be paid up. Each allotted share must be paid up to at least one quarter of its nominal value together with the whole of any premium
A newly formed PLC must not begin business or exercise any borrowing powers until it has a certificate issued from Companies House under section 117 of the Companies Act 1985 confirming that the company has issued share capital of at least the statutory minimum.
A PLC must have at least two members and at least two company directors. The secretary (or each joint secretary) must also be a person who appears to the directors to have the necessary knowledge and ability to fulfil the functions of the Secretary according to the Law.