It's a mis-nomer really, I take it that your not a UK bod, A cherished number plate is Just a Number plate (licence plate) that means something to the owner.
I bought a '76 750 F and the number plate reads "MAT 750P".
I'm not a fan of Cherished Plates, waste of money if you ask me, DVLA valued this number at between £1500 and £2000, one company has offered to sell the licence for £800 for me.
I was wondering if any UK bods had any experince in this sort of thing.