Northern Rock Campaign – Appeal for Funds to Fight for Fair Compensation
We believe it is morally and legally wrong for the Government to dictate the terms of reference for the determination of compensation to be paid to Northern Rock shareholders. We have therefore supported a legal challenge to the approach the Government has taken with a view to obtaining a fair value based on a truly independent and unbiased valuation process using normal commercial principles.
Although UKSA management and the members of the Northern Rock Action Committee do not charge for their time or costs incurred in running this campaign, we do have considerable other expenses that also need to be covered. This comprises printing, postage, the cost of purchasing the company’s share register and other incidental and administrative expenses. In addition we are incurring substantial legal costs. We are therefore asking all former shareholders in Northern Rock to contribute to a fund for this purpose.
Our objective is to raise at least £15 from every shareholder and more where those shareholders held considerable number of shares (after all those with more shares will benefit more if the legal action is successful). These subscriptions will help to cover the basic expenses that we have for administration and communications with shareholders.
Chris Hulme and Shumm Ghumman, co-chairs, Northern Rock Shareholders Action Group
To make a donation you can do so by clicking on the following link to make a donation on-line, or you can print this page out and post it with a cheque. You can also make a donation by direct bank transfer - see below.
Name: _________________________________________________________
Address: _________________________________________________________
_________________________________________________________
_________________________________________________________
Postcode: ________________
Email Address (please write clearly in capitals): ___________________________________
Telephone (optional): ________________________________
Number of shares held _____________________
I enclose a cheque for £ ______________ made payable to the UK Shareholders’ Association as my donation to this campaign. (We suggest a donation that is calculated as follows based on the number of shares you held - the amount being asked for is based on the money we need to raise and the likely number of respondents. The suggested contribution is 2p per share held, but please simply give as much as you can afford. A table that gives some sample figures is shown below)
| Shares held | Subscription Amount @ 2p per share |
| 500 or less | £15.00 |
| 1000 | £20.00 |
| 2000 | £40.00 |
| 5000 | £100.00 |
Please return this form together with a cheque for the amount being contributed to the following address: UK Shareholders' Association Ltd, Chislehurst Business Centre, 1 Bromley Lane, Chislehurst, BR7 6LH
Foreign shareholders or those who wish to pay directly into our bank account should contact UKSA to obtain our bank details.
The UK Shareholders Association warrants that any contributions made in respect of this matter will be used solely to promote the interests of the shareholders of Northern Rock Plc. If the committee set up to organise this campaign subsequently determines at some point that no further action is necessary, then any funds remaining will either be returned by UKSA to contributors pro-rata to their total contributions, or may be used for any charitable purpose to promote the interests of UK shareholders in general by UKSA. Money paid to UKSA for this campaign will be accounted for separately, and any expenses incurred likewise, and a statement of income and expenses will be supplied to contributors at appropriate points in time, but no less than annually. The UK Shareholders Association (UKSA) is a “not for profit” company limited by guarantee. The Northern Rock Shareholders Action Group is a group operating under the constitution of UKSA.
