May 2024 – The battle between a group of members that is trying to exercise the right to have a say on the proposed very expensive takeover of Virgin Money and the board of directors of this society continues. Baroness Bowles: Nationwide using sneaky tactics to avoid Virgin vote (msn.com)
The members continue to believe the advertised claims that they are owners of the society and that it is a mutual society and that they can have their say. So, naturally they believe the directors to be honest, open and transparent as the directors so often claim to be.
The members want to hold a Special General Meeting (SGM) to debate the issue. Sadly and to their disappointment, the directors, although more than willing to hold a meeting, have been forced to find a law which forbids them to do so by a firm of totally independent lawyers no less who somehow got involved, unlike members.
The directors have had to point out that the claims the directors made might just be somewhat ever so slightly misleading and a bit exaggerated and perhaps not quite true. The directors have done this through a series of slightly unfriendly messages to the group, a bit different to the lovely cuddly smiling people portrayed at election time.
If the members were successful in holding an SGM the directors would be only too willing to help the “owners” by using the undemocratic infamous “Quick Vote” which, of course, is in line with another claim that the society is an exemplar of good governance and best practice, just to demonstrate who really owns the society.
This society has 16 million members and the highest paid directors by a long way. As their performance for members is quite the opposite and so pathetic it is difficult to understand why it has any members.