X-Press Legal Services
B&B Rights Issue
Bradford and Bingley investors have voted for the firm’s crucial £400 million rights issue by an overwhelming majority. 93% for vs 3% against was the split in what was almost entirely a proxy vote.
The proposal has twice been restructured and shareholders were expected to vote the rights issue through.
B&B’s high profile involvement in the buy-to-let market had meant that the firm had been in the spotlight since the credit crunch started to bite in the UK housing market.
