I'm gonna vote NO to Standard's Demutualisation!

ReportInvestor

Fair enough.

But its not logical if there is any chance of a 74.999999999999999999999999999% vote in favour of demutualisation

As that would mean no demutualisation, no shares, no viable company, all risks of this declining, undercapitalised, company underwritten by us with poor profits investors .

haveagoade

yeah but you got no worry's cos everyone on here thinks I'm NUTS.... ;-)

JCL

haveagoade wrote:

hence my ideal voting result of 75.000000000000000000000000001% in favour of DM.

Just keep in mind that even if that result is announced come 5pm on May 31st that doesn't mean Standard Life going plc is a done deal. It will still need to be approved by the court and if it's that close and/or the turnout is low then the court can turn around and say the demutualisation isn't approved.

Gorgeous_George

To be honest, last week at this time I had a similar mindset to haveagoade. Even now, people can be excused for not trusting the professionals - especially IFAs who I have no time for whatsoever. In future, my investment decisions, including my pension, will be based solely on my own rationale/judgement.

For instance, I could invest £1000 in a pension fund. The fund managers would suck out 1% in year 1 (leaving 990 invested for my benefit). In year 2 another 1% would be awarded to the wonderful managers REGARDLESS OF THEIR PERFORMANCE (leaving my fund at about £980). This would continue until I retire such that in 20 years time the managers will have had the best part of £200 of my money. Of course, in real terms, the figures would be much greater and the only risk is mine to own. This is what IFAs might recommend me to do for my future.

My rationale says, cash ISAa, selected shares, pay the mortgage off, Buy-to-Let and resist the removal of my final salary pension scheme.

Back to the thread. I don't know who ReportInvestor is or for whom he works but reading his posts confirms my original thought - that I would be voting NO for IRRATIONAL reasons. Those board members who lost me my money will have their comeuppance. I believe that what goes around comes around and that every dog has its day. I don't think this is that day.

The board will not suffer if members return a No vote. They'll just resign and award themselves massive golden handshakes.



GG

ReportInvestor

Gorgeous_George wrote:

The board will not suffer if members return a No vote. They'll just resign and award themselves massive golden handshakes.

You're a fast learner, GG.

That's exactly what the previous Chief Executives, Bell and Lumsden did.

vinno65

Hi All,
At the moment Standard life is owned by its members. Mutuals were set up on the ideal of people helping people. Now part of YOUR money will go to shareholders who have contributed nothing but bought shares to make money
It's the way of the world. If you are happy with this scenario then vote yes, if not vote no. Do any of you with under performing SL policies believe that de-mutualisation will have any affect on them. Unfortunately you are old business. De-mutualisation will concentrate on new business and paying sharehlders with the profits leaving most of the original members in the lurch.
Just my musings you're free to do as you wish, but my mortgage is with a Building Society not a bank
regards Vinno

haveagoade

yes this ALL worries me.............why should we be better off under DM? SL are not going care about me, they are going to chase new customers and promise them the world and right me off.......and with no voting rights....even more so!

EdInvestor

Hi Vinno

Demutualisation will concentrate on new business and paying sharehlders with the profits leaving most of the original members in the lurch.

You won't be getting any shares from the DM yourself, then .

haveagoade

EdInvestor wrote:

Hi Vinno



You won't be getting any shares from the DM yourself, then .

Not enough for me to vote YES!

vinno65

EdInvestor wrote:

Hi Vinno



You won't be getting any shares from the DM yourself, then .

Hi edinvestor,
No I won't be getting any shares as i have no policies with SL. What people need to realise however is that the money they are getting as a windfall is in fact theirs anyway. Also the windfall will be nowhere near projected shortfalls on their endowments. Finally do you think the de-mutualisation will be good for SL endowment policyholders?
regards Vinno