you are required to conduct a research based on the question below making reference to the relevant sections of the Companies Act 2004 of Jamaica)

Question

The shareholders of Scented Candles Limited a privately owned family business, with a share capital of $300,000 are contemplating whether to convert the business from a Private Limited Company to a Public Limited Company. This is part of the company's strategic objective for the year 2023. The company presently has one director, Mandy, a qualified experienced professional in the field of decorative candles, who is also the major shareholder. Perry a minority shareholder is the Company Secretary. Mandy has approached your firm of consultants for advice regarding the matter.

REQUIREMENTS

You are required to prepare a report advising Mandy on the following:

1) Explain TWO (2) possible benefits and TWO (2) possible challenges that Scented Candles Limited may experience if it is converted from a Private to a Public Limited Company. (10 marks)