Publicly unlisted company
Encyclopedia
A publicly unlisted company is a company
that can have an unlimited number of shareholders to raise capital for any commercial venture. Companies which are not listed publicly are more likely to engage in profit maximising behavior as their share capital structure makes it very easy to give its members financial returns. Unlisted companies are usually too small to qualify for a stock exchange listing, and do not usually advertise for investors. However they tend to be larger than companies limited by guarantee.
In Australia
, companies not listed publicly are required to prepare an annual report that includes a directors' report, financial report, and an auditor's report
. The report is to be distributed to its shareholders 21 days before its annual general meeting or four months after the end of the financial year. This regulation is in place because members of the public who have invested in such companies are not always in a position to get information about the companies performance and so would not be able to monitor their investment and determine the return on their investment.
Company
A company is a form of business organization. It is an association or collection of individual real persons and/or other companies, who each provide some form of capital. This group has a common purpose or focus and an aim of gaining profits. This collection, group or association of persons can be...
that can have an unlimited number of shareholders to raise capital for any commercial venture. Companies which are not listed publicly are more likely to engage in profit maximising behavior as their share capital structure makes it very easy to give its members financial returns. Unlisted companies are usually too small to qualify for a stock exchange listing, and do not usually advertise for investors. However they tend to be larger than companies limited by guarantee.
In Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
, companies not listed publicly are required to prepare an annual report that includes a directors' report, financial report, and an auditor's report
Auditor's report
The auditor's report is a formal opinion, or disclaimer thereof, issued by either an internal auditor or an independent external auditor as a result of an internal or external audit or evaluation performed on a legal entity or subdivision thereof...
. The report is to be distributed to its shareholders 21 days before its annual general meeting or four months after the end of the financial year. This regulation is in place because members of the public who have invested in such companies are not always in a position to get information about the companies performance and so would not be able to monitor their investment and determine the return on their investment.