Standard Life Votes Yes
Overwhelming majority vote for the demutualisation of Standard Life
3rd June 2006
The demutualisation of insurance company Standard Life looks set to go ahead after 98% of its members voted in favour of the move.
More than 1.5m votes were counted, with the majority voting to demutualise far exceeding the 75% the firm needed to go ahead.
Subject to court approval, the company is expected to float on the stock market next month, with members picking up windfall share issues of at least £500 each, with £1,700 being the average estimated value.
The flotation will bring an end to the insurer's 80 years of mutual status, and will result in Standard Life being the country's fifth largest publically traded insurer.
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Products from Standard Life : Health Insurance |
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