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Features of a public limited company

Answer Text:
public limited company:
-Is a business unit that is owned by at least seven members and no maximum.
Features of a public limited company:
a) Can be formed by a minimum of 7 (seven) shareholders and no set maximum.
b) Cannot start business before it is issued with a certificate of trading. This
is issued after the certificate of incorporation and after the company has raised a minimum amount of capital
c) It’s managed by a board of directors.
d) The shares and debentures are freely transferable from one person to another.
e) It advertises its shares to the public/ invites the public to subscribe for/buy its shares and debentures.
f) Must publish their end of year accounts and balance sheets
g) Must have an authorized minimum share capital figure
h) Has a separate legal entity and can own property, enter into contracts, sue or be sued.
i) Has limited liability.
j) Has a perpetual existence.