|
Membership of the B&B Shareholder Actions Group
B&B Action (“the
Company”) is a company limited by guarantee formed for the purpose of
promoting the interests of the former and current share and bondholders in
Bradford & Bingley Plc, following the nationalisation. It will be
challenging any valuation of the ordinary shares by the independent valuer
that we consider to be unfair or unreasonable (the Group has made
representations to the valuer on this matter), and is also looking at the
legal issues associated with the damage to bondholders interests from the
nationalisation of Bradford & Bingley Plc and subsequent events.
We invite you to register
your interest by becoming “associate members” of the Company. The associate
membership fees will be used to pay for legal advice on this matter, to
support legal action if required, for some public relations activity and for
administrative costs in communicating with share/bondholders and keeping you
informed on the progress of this matter.
The associate membership
fees vary depending on the number of shares or bonds (PIBS) which you held
or hold in Bradford & Bingley Plc.
For ordinary shareholders
the fee is 0.5p per share held with a minimum of £15. Some sample figures
are given below:
|
Number of shares |
Fee |
|
50,000 |
£250 |
|
20,000
|
£100 |
|
10,000 |
£50 |
|
5,000
|
£25 |
|
2,000 or
less |
£15 |
For
bondholders (i.e. those who hold the PIBS) the fee is £8 per 1000 shares
(i.e. per 1000 undated notes) that are held. Some sample figures are given
below.
|
Number of bonds |
Fee |
|
50,000 |
£400 |
|
20,000
|
£160 |
|
10,000 |
£80 |
The above
fees give you “associate membership” of the Company. If you contribute £200
or more then you can also apply for full membership which gives you voting
rights in this group. Such applications are subject to approval. Call 0113-281-3941 for further details of full membership.
Note that
funds raised from ordinary shareholders will be kept separate from funds
raised from bondholders and such funds will be applied generally to the
benefit of each type of member, although there will be some shared
administration and other costs.
Any
subscriptions previously paid to the UK Shareholders Association in support
of the Bradford & Bingley Shareholders Action Group will be recognised as
qualifying you for associate membership.
To apply for associate
or full membership please click on this document (a pdf file), print it out
and send with a cheque to the address given on the form:
Membership_Form . If you wish to pay by
other means, please telephone 020-8467-2686 for advice.
|
