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Carpetbagger announces “last gasp”

Nationwide and West Bromwich building societies are once again the target for conversion from carpetbagging crusader Michael Hardern.


He is trying to drum up support for five resolutions aimed at forcing the two societies to convert to banks and release windfalls for their members.


Hardern admits that although the move will almost certainly be ruled invalid under the Nationwide&#39s rules, his motion “gives the society the opportunity to ballot for conversion if it wishes”.


He says: “This may well be the last gasp for carpetbagging campaigning because it is widely expected that societies will require 500 members to support any future conversion resolutions and members must vote 75 per cent majority to approve any such rule change.”

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