Public Meeting for Shareholders
A meeting for Bradford
& Bingley shareholders and bondholders was held in London on Saturday
the 10th October 2009
investors who feel they have been disadvantaged by the banking crisis and
the nationalisation of the company attended the meeting at St Columba’s Church
in Pont Street, London.
a great opportunity for shareholders to get an update on what this
Group has been doing on behalf of shareholders, and to enable them to ask
questions, but there were also a number of speakers.
Mr Clokey, the independent
valuer, stated that his personal ambition was to conclude the valuation
process within a year. He emphasised that he was truly independent and
although he was being paid by the Government the costs of the exercise would
not be charged to the company (and hence would not reduce the possible
report of the meeting is present in this document:
B&B_Meeting_Report. A copy of
the presentation to the meeting by Roger Lawson is present in this document:
speakers at the meeting were:
partner of Price Waterhouse Coopers (PWC) and has been appointed as the
independent valuer under the Bradford & Bingley Compensation Scheme. He
explained his approach to the valuation. The
BBAG will cooperate with Peter Clokey and his team in providing any
information which he requires and that is at our disposal. Mr Clokey is
Deputy Chairman of the ICAEW’s Valuation Special Interest Group of Chartered
Accountants and before joining PWC was Corporate Finance Director, Lloyds
Merchant Bank Ltd, and Director, Investment Banking at Standard Chartered
Merchant Bank Asia Ltd.
LibDem MP for Richmond who has signed John Thurso’s Early Day Motion noting
the Government’s decision to bring B&B into public ownership and calling on
it to review the decision to cease payment of interest on the subordinated
debt. She served on the Treasury Select Committee in 2006 and 2006 when
she took up the role as the International Development Secretary for the
Liberal Democrat Shadow Cabinet, after which she moved to Trade and Industry
and then Transport. Susan first made her mark in politics as the Liberal
Democrat candidate for Mayor of London in 2000.
Chairman of the Bradford & Bingley Shareholders Action Group (BBAG). He
gave a general progress report on the B&B
campaign. David is a former Chairman of the UK Shareholders
Association, and has a long background in investment, both professionally
and on his own behalf. He is of course a former shareholder in Bradford &
Communications Director of the UK Shareholders Association (UKSA). He gave an overview of UKSA’s role in
the banking crisis to date and how this campaign has been operationally
managed. Roger is an active private investor and has managed the UK
Shareholders Associations marketing activities as a Director for several
years. He has run or been involved with most of UKSA's recent campaigns, and
has spoken and written widely on the subject of the recent banking crisis.
photograph below shows Susan Kramer speaking on the platform.
Previous Meeting In Bingley
About 200 Bradford & Bingley shareholders
attended the previous public meeting we held in Bingley on the 7th March 2009.
Views of the audience at the previous meeting are shown above and below.
A full report on that meeting is present in this document: