Ltd's listed on LSE

18th Feb '20 by Another Alias

8 comments 523 reads

Hi all

Newbie question - I'm trying to find some information regarding why some stocks like SLP (Sylvania Platinum Limited) and PLUS (Plus500 Ltd) are listed as Ltd's. I think I read somewhere a while ago Ltd firms listed on the LSE have lesser reporting requirements but was wondering if anyone has a comprehensive overview on this or a link to help educate me?

I've struggled to find info re; why some firms are listed as ltd's and how this might impact an investor's outlook on them. Any info or links to explore would be welcome.

Thanks!

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8 comments

Chrisgsy

19th Feb '20

I believe it is because the company is not domiciled in the UK. Checking the ISIN stock codes, Sylvania starts with BM, which is Bermuda and Plus 500 with IL, which denotes Israel.

gus 1065

19th Feb '20

I’m no expert on company law (so happy to be corrected), but think the difference between “limited” and “plc” in a company’s name is purely semantic other than in the perception that somehow a plc is “big” and a “limited” is not.

The principal legal difference is made more by whether a company is a “private limited company” or “public limited company”, i.e. whether the shares are held privately or traded publicly on an exchange with all the ramifications that go with that in terms of information disclosure and satisfaction of other listing requirements. Clearly the likes of Sylvania Platinum (LON:SLP) are listed so they are public even if they have the word limited (and not the word public) in their name.

I suspect a lot of companies simply have the word limited included in their name when they were first incorporated and haven’t bothered/have no particular incentive to change it.

Gus

ezlifeme

19th Feb '20

As usual Mr Google has an opinion, differences are subtle (I like many small business used to own and run a "private" Ltd Co - very small closed ownership not quoted on an exchange

view - https://www.theaccountancy.co....

Not replicated to avoid copyright issues, but hope it helps

Gostevie

19th Feb '20

Fascinating link. Thanks! This sentence from it confuses me a bit though:

"A company director has to be 70 years old or below."

Surely there are many company directors over 70? Does it mean that founding directors must be 70 or below, or maybe 70 or below when appointed?

Just curious really. [I'm 56 so a way to go yet. :-)]

Nicowilson

19th Feb '20

Agreed. Only UK registered companies need to have PLC status to have their shares listed in the UK.

ezlifeme

19th Feb '20

I hadn't noticed the ref to 70 years - it's a little simplified - See Mr Google link below again

http://www.legislation.gov.uk/...

The age limit is APPOINTED after attaining the age of 70 furthermore they should vacate their office at the next general Meeting after their 70th....

UNLESS you get the company to pass a special resolution to allow >70 appointment and staying in office

AndyPot

19th Feb '20

You have linked to the 1946 version of the Companies Act, according to Wikipedia the 2006 version does not have an upper age limit, the only requirement is that a director is at least 16 years old.

Apparently the Companies Act 2006 is the longest Act in British Parliamentary history with the table of contents covering 59 pages so in this case I'm not going to read it and will trust Wikipedia!

https://en.wikipedia.org/wiki/Companies_Act_2006

Another Alias

19th Feb '20

Thanks everyone for your insights. I'm still digging into this to see if I can unearth anything further and will share if I can.

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Ltd's listed on LSE

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Another Alias

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