And the Northern Rock madness is stopped!
No sooner is it announced that Northern Rock are paying a £59 million dividend to shareholders, than it is vetoed by MP’s and institutional investors.
After the markets closed last night enough pressure was placed on Northern Rock to stop the payout going ahead.
But obviously this isn’t enough in the saga of Northern Rock - they revealed that they are in preliminary talks with a number of parties interested in a takeover. Should no takeover go forward there are rumblings that the government might take it on.
Taking the contrary view to the quick ‘fire sale’ mentality is the UK Shareholders Association, which has established an action group for Northern Rock shareholders calling for a board shake up to get confidence back.
“Many such shareholders were persuaded to invest in shares in the company in recent months based on the apparent strength of the business when in reality the company was in great financial difficulty, such shareholders have suffered major financial losses as a result. We believe that more value might accrue to shareholders if the company is permitted to stabilise and rebuild its franchise with customers as opposed to undertaking a ‘fire sale’” a spokesman said.
Free Banking Resource
Research Rates And Get Valuable Banking Tips. Free.
www.BankRate.com
Banking
Browse a huge selection now. Find exactly what you want today.
www.ebay.com
Get a Bank Account Today
Second chance bank account, No ChexSystems Verification, no credit check, 100% approved.
www.newbankaccount.net