Give Nationwide Members a Say on the purchase of Virgin Money
The campaign for Nationwide members
26 April 2024 Dear FCA Mutual Societies team (cc Nikhil Rathi, Mikael Armstrong, Treasury Select Committee, Treasury action team, Bim Afolami MP, Julie Elliott MP bcc journalists that have covered this story) We have been sent your below response [1] by supporters of our campaign who have raised concerns about the Nationwide Building Society. We […]
Swindon, UK – The campaign to “Give Nationwide Members a Say on the purchase of Virgin Money” is calling on the Nationwide building society to publish its recent research into members’ attitudes to the proposed acquisition of Virgin Money. It is also asking the society to be transparent with members about any potential downsides if […]
Count the RED FLAGS with us, enough for an 18 hole golf course! (UPDATED WITH LINKS) 1. Nationwide buying Virgin Money @38% above market https://www.bbc.co.uk/news/business-68499145 2. Offer is still < book value given Virgin Money poor performance & prospects https://www.polarcapital.co.uk/gb/professional/Investment-Insights/Post/7175/Nationwide_bids_for_Virgin_Money_Our_take 3. Virgin Money is a Frankenstein bank with bad IT: 4 different banks, not integrated […]
Dear all, Thank you all for your continued support for the campaign to Give Nationwide Members a Say on the purchase of Virgin Money. We now have: Contents of this update: On Thursday afternoon, the Society secretary emailed me to say that the society considers the campaign’s request for a Special General Meeting to be […]
The campaign for Nationwide members to have a say on the proposed takeover of Virgin Money is proposing that their supporters withdraw all but £100 from their Nationwide deposit accounts. The campaign has been protesting that Nationwide members should have a vote on the £2.9 billion proposed takeover of Virgin Money – which is what is […]
Please read the latest update from Mikael – and please email Nationwide with your request as per the instructions below. — UPDATE FROM MIKAEL — Thank you to everyone who has signed and supported this petition. We are now past the 3,000 signatory mark which is 6x what is needed to bring a Special General […]
Another form of direct action that members can take – given that Nationwide is not bringing a vote or calling a Special General Meeting (SGM) to affect the same – is to raise a concern with the mutual regulator: the Financial Conduct Authority. The suggested grounds of the concern are that Nationwide is not abiding […]
Please use/adapt the below template and email your local MP. It is important that you include your name, address and post code at the end. Strict parliamentary rules mean that MPs are only allowed to help their own constituents. You can find our who your local MP is and their email address at:https://members.parliament.uk/members/commons – – EMAIL […]
Takeover press coverage
