Mutual Mergers/Demutualisations in 2019

Money, investing, mutuals etc
pabenny
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Re: Mutual Mergers/Demutualisations in 2019

Post by pabenny » Tue Feb 05, 2019 12:26 pm

Boro Boy wrote:
Tue Feb 05, 2019 11:20 am
I can't imagine that any carpetbaggers would get much from any distributions that may follow any possible demutualisation even if it were to progress...
Quite. As we all know, most mutuals put in place T&Cs to prevent (or at least deter) would-be carpetbaggers.

planteria
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Re: Mutual Mergers/Demutualisations in 2019

Post by planteria » Tue Feb 05, 2019 12:58 pm

they did, and the truth is that none of us know whether 'baggers' would receive any kind of windfall. but the members of Nationwide are still the owners, there is value in the business, and in theory that value could finish up being distributed between them.

Constantine
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Re: Mutual Mergers/Demutualisations in 2019

Post by Constantine » Tue Feb 05, 2019 2:06 pm

Nationwide has had a Charitable Assignment clause in its membership agreement since 2nd November 1997.
https://www.nationwide.co.uk/support/su ... assignment

So unless you were (like me) a member before that date, you'd be getting nowt.
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planteria
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Re: Mutual Mergers/Demutualisations in 2019

Post by planteria » Tue Feb 05, 2019 7:17 pm

no one knows if there will ever be a Nationwide windfall, and if there is, no one knows whether the windfall declaration would apply. going back to the days when the assignments were being brought in, the theory was that a board deciding to change tack would likely look to get around the assignment to ensure the support of more recent members.

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