Societies act to 'close window' on carpetbaggers

Evening Standard - London | January 5, 2000| | Copyright

THE Chelsea and Skipton building societies today took the unusual step of recognis-ing two resolutions recently put by windfall- chasing carpetbaggers seeking to demu-tualise the societies.

Both said they remained fiercely committed to remaining mutual, but added that requests by carpetbaggers for the boards to consider a change of ownership structure were a matter regularly reviewed as a part of normal management procedures.

In a move that sidesteps the need for a potentially costly pro- mutuality campaign, the societies are even recommending members to vote at AGMs for resolutions that ...

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