Carpetbagger Fred Woollard may quit his campaign to force Standard Life to demutualise if fewer than half of policyholders vote for it according to Financial Times.
A vote will be held June 27 at which point the mutual life office's 2.3m policyholders will decide if they want the company to convert or not. If demutualisation does occur, it has been estimated that policyholders could stand to gain windfalls of £5,000 to £6,000 each.
Woollard says: “If we get less than 50 per cent, then I can assure you that will be the last you'll hear from me - I will not be coming back with more resolutions. I'll respect the view of the majority, and hope Standard Life will do the same.”