Royal Bank of Scotland

Shareholders Action Group

London RBS Offices
Membership
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Membership of the RBoS Shareholders Actions Group

 The RBoS Shareholders Action Group (“the Company”) is a company limited by guarantee formed for the purpose of researching and possibly pursuing legal action on behalf of the shareholders in Royal Bank of Scotland (“RBS”). Of particular concern to shareholders is the rights issue that was undertaken in May of 2008. Although it was at a substantial discount to the market price of the shares at that time, the share price has since fallen very substantially. The rights issue was at 200p whereas the company has recently traded around the 50p mark and has been as low as 10p. Shareholders believe the rights prospectus was misleading and it certainly gave no hint that within a few months the company would require a massive bail-out by the Government which has diluted the interests of ordinary shareholders very substantially (the Government's economic interest in the company has risen to 85%). Shareholders have as a result lost an enormous amount of their capital. 

The RBoS Shareholders Action Group was formed by a number of shareholders to pursue this matter and any claims that can be brought. We invite you to register your interest by becoming “associate members” of the Company. The associate membership fees will be used to pay for legal advice on this matter including the obtaining of a QC’s opinion on the issues and to cover the costs of writing to shareholders, keeping you informed and administering the Company. 

These fees are fixed and you will have no obligation to contribute further, or have any risk of liabilities for adverse costs. Associate membership will not mean statutory membership of the Company. If we identify specific grounds for legal action then we will advise you how this might be funded in due course. 

The associate membership fees vary depending on the number of shares for which you subscribed in the rights issue in May 2008 as follows: 

Number of shares

Fee

More than 20,000

£150

10,000 to 20,000

£100

5,000 to 10,000

£50

Less than 5,000 shares

£25

The above fees give you “associate membership” of the Company. If you contribute £200 or more then you can also apply for full membership which gives you voting rights in this group. Such applications are subject to approval..

To apply for associate or full membership please click on this document (a pdf file), print it out and send with a cheque to the address given on the form: RBOS_Appeal_Letter . Alternatively you can pay on-line using a credit card by going to this page: Payment

If you wish to simply make a donation to our cause then please use this form: RBOS_Donation

We can also accept direct transfers into our bank account but please contact us for further information if you wish to pay by that means.

Note that institutional investors who subscribed for more than 50,000 shares should contact the following rather than take out an ordinary subscription: Roger Lawson: Tel: 020-8467-2686, email: R. Lawson

 

 


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