The act by which a mutual entity, such as a building society, changes its status to that of a public limited company.
Distributable profits (or distributable reserves) are the profits of a company that are legally available for distribution as dividends to its shareholders. This includes a company's accumulated realized profits after deducting all realized losses.
A mutual company is a company owned by its members or depositors. Common examples include mutual insurance companies and building societies. These companies distribute profits to policyholders rather than shareholders.
