Setting up plc

[Newmedia]

Hi

Just out of interest, when setting up a plc and it states minimum share issue of £50,000 with 12.5% paid up. Paid up to where?? Paid to the plc?

Regards

 

[Williams lester]

Yes, you have to pay the money for the shares, so the money goes into the company!

 

[Newmedia]

How would that work? You set the plc up and the the directors purchase 12.5% of the shares (or more if they wish. And where do's the money go? Into the company bank ac?

 

[Williams lester]

Shareholderrs purchase shares, these may or may not be directors. A minimum of £50,000 of shares have to be issued, and 12.5% must be paid up on each share. This money is paid to the company bank account.

To set up a plc, you really need to take professional (paid for) advice, as you will need to meet certain requirements which you cannot do yourself (such as an audit).

 

[akirk]

If you aren't familiar with basic concepts of business such as paid up shares you really need professional advice before going any further or you will get into a lot of issues

Alasdair