SIMNA Ltd became a company limited by guarantee in 2016.

A company limited by guarantee is a legal form that means an organisation (a group of individuals or entities formed around a common cause or interest) attains a ‘legal status’ and can own assets, enter into agreements and contracts and employ people.

‘Company’ status also limits the legal exposure of members of the company (hence the phrase company ‘limited by guarantee’) to evidence of recklessness or negligence, giving members (and their representatives, directors) greater freedom to carry out activities in pursuit of their mission.

In addition, a company’s members are liable to contribute a certain amount to the company in the event it has to be wound up.