Savings, retirement and protection provider Liverpool Victoria Financial Services Limited (“LV=”) advises that the timing of its Special General Meeting (SGM) and Members Meeting has been moved from the first half of the year. All eligible members[1] will be invited to vote on the proposed acquisition of LV= by Bain Capital Credit LP (“Bain Capital”) at a later date, which will be confirmed in due course.
The complexity of the transaction has resulted in more time being built into the process for further engagement with a range of stakeholders, on behalf of members.
Mark Hartigan, LV= Chief Executive, said:
“Delivering in the best long-term interests of members has been the guiding principle behind all decisions throughout the process and this is no exception: we will not compromise the rigour and level of engagement that this complex process requires and members deserve. I would like to thank all our members for their patience and look forward to further engagement and providing an updated timetable in due course.”
Further details of the Special General Meeting and Member Meeting will be published on lv.com/future once confirmed. At this point we will also provide further information on the member engagement programme which will comprise:
- A comprehensive voting pack for all members
- An all member webinar
- A dedicated webinar and email address for With-profits policyholders in addition to specific content relevant to them on the website.
In the meantime, members can find all the current available information about the transaction at lv.com/future.
[1] All members will get a vote on the transaction, subject to LV=’s usual voting criteria of being a member for 12 months.
For more information please contact:
FTI Consulting
Ed Berry - 07703 330 199
About LV=
LV= is a leading financial mutual and serves over 1.3 million members with a range of financial products. When we started in 1843 our goal was to give financial security to more than just a privileged few and for many decades we were most commonly associated with providing a method of saving to people of modest means. Today we follow a similar purpose, helping people to protect and provide for the things they love, although on a much larger scale and through a wide range of financial services including insurance, investment and retirement products. We offer our services direct to consumers, as well as through IFAs.LV= and Liverpool Victoria are registered trademarks of Liverpool Victoria Financial Services Limited and LV= and LV= Liverpool Victoria are trading styles of the Liverpool Victoria group of companies. Liverpool Victoria Financial Services Limited, registered in England with registration number 12383237 is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, register number 110035. Registered address: County Gates, Bournemouth, BH1 2NF.