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Lambeth unveils 8.4 per cent bonus offer for a merger nod.
Financial Adviser
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April 27, 2006
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COPYRIGHT 2006 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.
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ELIGIBLE members of Lambeth Building Society have been promised a bonus of 8.4 per cent if they endorse plans to merge with Portman Building Society.
On Monday, Lambeth offered a merger bonus of 8.4 per cent, or no more than AGBP2500, to qualifying shareholding members and a pre-tax bonus of AGBP400 for each qualifying borrowing member.
Eligible members of Lambeth will have the opportunity to vote in relation to the proposed merger at an annual general meeting at The Royal National Hotel in Bedford Way, London at 11am on 25 May.
Subject to approval ...
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