Give Nationwide Members a Say on the purchase of Virgin Money
The campaign for Nationwide members
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
Correspondence between PRA authorised firms, like Nationwide and Virgin Money, is in most case confidential. However through analysis of public documents that stipulate the obligations on authorised firms, it’s possible to glean what disclosures are required in certain circumstances, even if we don’t necessarily know the contents.
Consider moving all but £100 of your savings to another institition ASAP in protest (and probably for a better rate).
The six questions and answers to correct common misunderstandings.
WHY NATIONWIDE WILL BE FINANCIALLY WEAKER IF THE PROPOSED TAKEOVER OF VIRGIN MONEY GOES AHEAD A company’s balance sheet is made up of assets, liabilities and equity. In the case of Nationwide building soicety, the equity (or capital) in the business belongs to the members. In most takeover deals involving listed equity i.e. a company […]
