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More than a third of B&B members opt to sell shares

Bradford & Bingley has reported that 38.5 per cent of members have opted to sell their shares when the bank floats next week.

Members of B&B voted in April to list the company but reserved the right to keep their 250 shares or sell them in an institutional auction.

Chief executive Christopher Rodrigues says:"Thirty-eight per cent of shares flowing in is a pretty good place to be as it’s a big enough chunk to allow institutional investors to take a meaty holding."

B&B senior communications officer James Evans believes the amount of those keeping their shares is also a good sign.

He says "We are very pleased that over 60 per cent want to keep their shares and invest in the future of B&B."

"This figure looks even better when you bare in mind that Christmas is around the corner and this would have encouraged more members to cash in their shares."


IFAs slam Scot Wid bonus scheme

IFAs have criticised Scottish Widows’ new bonus payment strategy claiming it penalises guaranteed annuity policyholders. They claim the assurer is paying lower annual bonuses to guaranteed annuity rate policyholders to stem the rising costs of honouring these guarantees. Guaranteed annuity rate pensions of which Scottish Widows has sold thousands, ensures policyholders receive a minimum level […]

Cazenove to go public

Cazenove, one of the oldest and most powerful City firms is to become a public company after 177 years of private status. The firm which acts as a broker for many of Britain’s biggest companies, will seek a £1.5bn flotation on the London Stock Exchange in 2002. It hopes the move will raise capital so […]

Leeds & Holbeck isa away clients Tessas

Leeds & Holbeck Building Society has introduced the FTSE linked Tessa Isa. The Isa is aimed at investors who have a tax exempt small savings account (Tessa) that is about to mature and are now wondering about what to do about their investment. The product will link itself to the FTSE 100 index over the […]

Newton plugs into tech market

Newton plugs into tech market Newton European High Yield Bond Fund Type: Unit trust fund of funds. Aim: Growth by investing in technology funds. Minimum investment: £1,000. Investment split: 15 per cent Aberdeen technology, 15 per cent Henderson technology, 10 per cent Scottish Equitable technology, 10 per cent Mercury global titans, 10 per cent GT […]


School fees planning

Jeremy Pearson is Technical Support Manager with Canada Life’s ican Technical Services Team. Canada Life offers a range of wealth management solutions, including retirement income planning, estate planning and investment solutions from a choice of jurisdictions, including the UK, Isle of Man and Republic of Ireland. Many parents value the standard of education offered by […]


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