Secondary And Tertiary Companies (Fullers) Essay

5139 words - 21 pages

Task 1I am going to write about Fuller, Smith and Turner PLC for this assignment. Fuller, Smith and Turner PLC are a brewery manufacture and a retail company (so they operate in the secondary and tertiary sector). Their manufacturing plant is in Chiswick, London and they have a number of pubs, bars and hotels all over the UK with the "Pilgrims rest" in Kent.How Fullers became a Public Limited Company1617 the Fuller, Smith and Turner partnership is founded1829 John Fuller joins the brewery that has been operating on the Chiswick site for over two hundred years.1845 John Bird Fuller, Henry Smith and John Turner found Fuller Smith & Turner. Direct descendants of the founding families are still involved in the running of the Company today. A brewery has stood on this same Chiswick site for over 350 years, and a wisteria plant, the oldest in Great Britain has clung lovingly to the brickwork of the brewery house for 186 years.1872 John Bird Fuller dies and his son George Pargiter Fuller inherits his father's share.1929 Fuller's becomes a public limited company operating in the private sector.For Fullers to create a Public Limited Company, the directors have to apply to the Stock Exchange Council, which will carefully check the company's accounts. A business wanting to "go public" will arrange for one of the merchant banks to handle the paperwork. Selling new shares is quite a risky business; the stock exchange has 'good days' (when many shares are bought) and 'bad days' (when people want to sell their shares). If a new share corresponds with a 'bad day' the company could be in trouble and lose a lot of money.The Benefits of a Public Limited company (i.e. Fullers)·The company can acquire large amounts of capital quickly.This is if they are having a bad month they can sell more shares to raise the break even or maybe to get more profit.·They cannot lose any item, which is personnel, but they can lose the money they have already put in.If the business fails the shareholders cannot lose anything which is personal but if the company was an unlimited company the owner can lose everything they own (e.g. cars, house or jewellery and other personal possessions until they have paid back all the money they owe)·The value of shares can go up and down depending on the economic change. This means in the stock exchange when shares are bought and sold.The constraints of a Public Limited company·The original shareholders can lose control of a business if large quantities of shares are purchased as part of a "take over bid".If a rival company of Fullers (e.g. Young's) were losing a lot of business to Fuller, Smith and Turner PLC they may try to buy all Fullers shares or at least 51% to have the majority voting.·It is costly to have shares quoted on the stock exchange.This is when a company have to pay a merchant banker to handle their paperwork and when they are talking to the Government, this is all a waste of time and...

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