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Standard Life to meet its latest foe

Standard Life has agreed to meet Edinburgh businessman Gordon Hart who is leading the latest charge against its mutual status.

Hart has revealed plans for his demutualisation campaign on his website. He does not intend to attempt to force another vote immediately but instead wants an independent assessment of the company’s value.

He claims in the last fight between Standard and financier Fred Woollard, the life office undervalued how large the windfall payments would be to with-profits policyholders if conversion were to occur.

But Hart says, if Standard does not make concessions he will not hesitate to table further demutualisation resolutions.

A Standard Life spokesperson says it "had offered a meeting to Gordon Hart in the near future to listen to any points he wishes to make. At this stage it would be premature to speculate on any outcome of the meeting as this is an exploratory discussion."

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