Bradford & Bingley Shareholder Action Group

BBAG
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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 0113-281-3941 for advice.

 

 


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