This is How To Change Private limited Liability Company To Public Limited Liability Company in Nigeria – PLC is short for Public limited liability company, while LTD stand for private limited liability company. How an LTD could change to PLC is the subject matter of this post. Consequently, there are conceptual issues that need to be addressed.
For a start, why would a private limited company change to a public limited company? What are the
advantages of private limited company over public limited company? What are public limited company advantages and disadvantages? What are the procedures to convert private company to public company? What are the employee benefits in public limited company and public limited company vs private limited company? These are the conceptual issues inherent in this post, How To Change Private limited Liability Company To Public Limited Liability Company in Nigeria, and I know that by the time we finish you will be ok with them. At any rate, fee free to contact us for further explanations, helps and related job assignments.
How To Change Private limited Liability Company To Public Limited Liability Company in Nigeria
Table of Contents
PEOPLE LIKE YOU ASK THESE QUESTIONS:
- What is a public limited company PLC?
- Can a public limited company be unlisted?
- What are the advantages and disadvantages of a public limited company?
- And, what is the difference between limited and private limited company?
- Who is the owner of a public limited company?
- What is the difference between a limited company and a PLC?
As a matter of fact, considering the benefits or advantages of public company over a private company, if you want to convert to the other, there are requirements that you have to meet. The Corporate Affairs Commission has guidelines on how this is done. We facilitate this process in collaboration with CAC as accredited consultants, just let us know your need.
How To Change Private limited Liability Company To Public Limited Liability Company in Nigeria
CAC REQUIREMENT
These requirements must be taken seriously. Without them you can not convert your LTD to PLC.
- Evidence of name availability and reservation
- Special resolution for re-registration signed by 2 directors or a director and secretary
- Application for the re-registration
- Duly stamped memorandum and article of association marked altered for this purpose
- A written statement on oath by the directors and secretary that the paid up share capital is not less than 25% of the authorized share capital
- And, a copy of the company balance sheet at the time of this decision or 6 months preceding the resolution, whichever is later
- A statutory declaration by a director and secretary that the special resolution is passed and that the company’s net asset is not less than the paid up capital and the reserves
- Copy of prospectus delivered to the Security and Exchange commission to this effect, within 12 months preceding the date of the resolution
- Updated annual return filing
- Updated section 553 of CAMA where applicable
- Payment of relevant fees.
Other Conditions:
- The special resolution must specify that it’s for re-registration and that such alterations should be made in the memorandum and Article of Association, to conform with CAMA provisions for public companies
- A company previously re-registered as unlimited company can not be re-registered again as public company
- The notice of resolution for this must be filed within 15 days after the passing of the special resolution
OTHER LEFTOVER CONCEPTUAL ISSUES:
Please contact us if you have need of these other information, or click here for various business tips that will guide you in this connection.
Change Private limited Liability Company To Public Limited Liability Company in Nigeria
How Do We Help You Convert Your LTD to PLC
Our approach is simple. Because we are CAC accredited consultants, what we require from you are your personal data and other company internal control information, we will generate all other documents, forms etc. for you and process the conversion.
If you want to know more about us click here. If you want to know more about our services click here
Contact us if you have need of us, via,
e-mail: [email protected]
Phone: +234 8034347851, +234 8097900795
Website: www.completefmc.com
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Deacon Anekperechi Nworgu, a seasoned economist who transitioned into a chartered accountant, auditor, tax practitioner, and business consultant, brings with him a wealth of industry expertise spanning over 37 years.
