London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
I have just read that NWide are only offering 0.6 of the VMUK book value.
Is this correct?
Still not received any notice of corporate actions, anyone know what happens next?
This was my response to MaryBr190 about Nationwide...
There would never be a windfall because those with those rights are the minority. If Nationwide 'belongs' to anyone, it is to the directors who will do whatever they like - such as buying a bank, awarding themselves huge pay awards, appointing the directors they want. The 'quickvote'/charity donations is a brilliant wheeze that ensures the directors have the vast majority of any votes on any issue as most members are uninterested & just think they are doing a good thing for charity in handing votes to the Board. As to VMUK, I have now sold my shares as it seems a done deal of which I heartily disapprove.
I received the latter from my trading platform HSBC saying your share will be sell @218 but im not sure when is last trading date on this any one can advise ???
That's an interesting insight. It's a done deal, imo. Even if it failed, our present BoD would just stay in place. I doubt very much that they would make changes.
Morning all
I worked for CYB for 30 years and latterly under the Virgin name as a regional manager. Whilst Duffy did indeed fend off Crosby for the CEO position I can tell you they have a very close bond. I think this deal is cheap and would be voting against it if I was still a shareholder. I think VM lost its way, people got too comfortable including Duffy who let’s be honest was at the helm for far too long.
It feels like a great deal for Nationwide with a VM BOD that’s probably run out of ideas just happy to accept whatever and move on.
I’d vote no, and hope for a new board with a fresh approach.
Still feel the shareholders are getting a raw deal.
These shares had been £3+ prior to covid.
They lost there way post covic due to management allowing too many staff to homework and loose focus on corporate goals.
The board made a mistake by trying to be 'hip' and telling staff to live a life more virgin the shareprice performance was downhill from that point.
Re NW.
There are still members with votes, the signing does not apply prior to a certain date. The signing away only applies to new accounts. Those with legacy accounts still have a windfall entitlement but it would only apply to legacy balances.
Botanic
She is. I was referring to David Duffy. A nice irony is that she lost out to him some years back for the CEO job. She went to TSB then Nationwide. So, she knows him and he is "stepping down", as they say.
Would like to vote on this next month but do not hold any shares . Is it too late now to get a vote or is there a minimum time that one has to hold shares ?.
Nationwide came up with a brilliant way to stitch up their members - they sign away their rights when they join and if Nationwide board has to seek their votes e.g. for AGM - Nationwide offer to pay a contribution to charity if members send in their votes, but Hey! they don't have to think about how to vote, they can just authorise Nationwide to vote on their behalf. Members who aren't interested (majority) but like the idea of 'their' 'mutual' Building Society giving to charity give the board free rein to elect the board members and award them their remuneration packages etc. So the more active members are effectively gagged/sand-bagged before they can even start.
Is today a good day to sell my Virgin Money shares or would you wait ?
I thought Ms. Crosbie was the CEO of Nationwide ; could be wrong .
Nationwide is reported to have 16 million members , no consultation with them or is it not necessary ?. Uncertain of the powers of a Mutual Societys board , maybe someone can enlighten us .
We have been with Yorkshire Bank since 1976 with no consultation on this takeover of the Virgin name .
It is up to individuals what they do with the purchase of Virgin by Nationwide ; just seems a nice money making
exercise to me .
I see our less than wonderful CEO is stepping down after the takeover. Doubtless, he will be staggering all the way to whoever he banks with. Nice reward for mediocre actual performance
Unlike Virgin shareholders - those poor souls that are society members (i.e shareholders in the building society) will not get to vote on this - i,e, Nationwide Chief Guru thinks all of its customers / shareholders are not worthy.
Potential that I may up and leaveNationwide if it goes through - or at least vote against the chairman's reelection to the board when they do bother asking our opinion.
I have my Barclays account set up to automatically buy shares with my dividend but its not in yet
Yep no brainer for sure
So the divi was paid today and was just wondering if it was worth re-investing as the current sp is 208p and the bid is 218p. Seems like a no brainier?
For me, The offer falls way short of what is acceptable.
I will vote to reject it.
Nationwide have till April 4th to make a formal offer.
I can see so many RNI can some one explain what are the next steps with VMUK ?
I’m a Nationwide member if we get a vote on this deal I’ll be voting down.
Seems the offer is an 'easy out' for David and Co.
No longer the need drive this bank to be the best digital bank in Britain and the promise year on year dividend growth.
Recent scores indicate both goal have been way off mark.
Anyone know when these shares will be physically cancelled and settlement sent to us long suffering shareholders?
I have not recieved any corporate actions asking to either accept or reject the offer.
Given a choice I would rather reject and hold the board accountable for their failing and hope that a more capable board could drive us to the success we had be promised when they got into bed with Virgin.
Final ex-dividend date - Feb 22nd 2024
Final dividend payment date - March 20th 2024
Interim Results - 8th May 2024
Other diary info available under 'VMUK Financial Diary' option above. Hope this helps.
When is the ex-dividend date?