We have had another successful week for our campaign and numbers have continuing to increase. The campaign has also received further press coverage this week

Please also take a look at your latest weekly update on our website for further information.

During the last week we also finally received some further information from Nationwide Building Society explaining why the directors of the Society have concluded that no member vote is needed.

The Building Societies act states that a member vote is needed if the business being taken over does not make at least half of its income from loans secured on residential property. Virgin Money, as stated in their accounts, only makes around 40% of its income from mortgages and we don't know for sure what percentage of them are residential. Nationwide are in addition including swap income within their calculations, which in effect is extra income from hedging contracts with other financial institutions. This potential slight of hand has been covered here in the Mail on Sunday today.

Thanks again to everyone who has signed and supported this campaign and please keep on passing on the word to get our message across.

We still have many opportunities available to potentially force a vote and everything is
still to play for!

Kind regards,

Mikael