Bradford Bingley Rights issue: Become a member

You will of course be aware that following the collapse of Bradford & Bingley some 6 weeks later it was nationalised and your Rights Issue Shares have become worthless.

Our Firm specialises in Class Actions on behalf of Investors who have subscribed for Shares pursuant to a Share Issue Prospectus or a Rights Issue Prospectus and over a period of time dating back 18 years we have had some considerable success. Further details are available on the website under the ‘Our background in Class Action Claims’ tab.

It is considered that there is a good prospect of obtaining compensation on behalf of members of the Action Group. We have consulted a Senior Barrister with considerable experience in matters of this nature and we have also been using the services of an experienced Share Expert. It is considered that the Risk Factors in the Prospectus do not sufficiently or properly identify the serious risks arising out of the downgrade by Moody’s in its credit rating.

The Shareholders were being invited to put up more money without the position being properly explained to them in the Rights Issue Prospectus and it is highly questionable as to whether shareholders would have put up further money knowing the true facts.

We are proposing to submit a Claim Letter shortly on behalf of all members of the Action Group

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How to join and membership details

We are seeking a contribution as set out below to join the Action Group.

In this respect we advise as follows for your assistance:-

• The aforementioned contribution will be the total amount required from you for membership of the Action Group and you will incur no further financial liability. All sums received will be placed into a clients account in the name of the Action Group.
• All sums raised will be used solely for the purpose of initial research and general administration with a view to pursuing a claim and in the event that funds raised are not entirely utilised then we would refund any surplus.
• All work carried out on behalf of the Action Group will be carried out by Mr L J Kaye of this Firm the Senior Partner. Details of out hourly charging rate on behalf of the Action Group are available in separate application on request. We reiterate that you will not incur any charges beyond your membership fee as detailed above.
• Funds raised for the Action Group will be utilised towards payment of our fees and the appropriate disbursements such as Counsel’s fees or Experts fees.
• This Firm would not wish to infringe on any professional arrangement which you might have with any other firm of solicitors or to suggest that you should prefer our Firm over any other Firm.

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We hope that you will join the Action Group and if you wish to do so we would ask you to return the Application Form duly completed together with your cheque for the membership fee made payable to “Bradford & Bingley Rights Issue Action Group” to us at:Leon Kaye Solicitors, 12 Ivory House, Plantation Wharf, London, SW11 3TN

You will be provided with a Receipt and an acknowledgement of your membership of the Action Group.

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Our background with Class Action Claims

Hereto are links to copies of certain Newspaper Articles relating thereto:-

• A Claim against Guinness Mahon Merchant Bank which was settled in 1996 and arose out of misrepresentations in various Prospectuses. Herewith copy Newspaper Report dated 23rd June 1996.
• Claim against Coopers & Lybrand (Chartered Accountants) as they were then known in relation to representations in a Prospectus accompanying a Rights Issue on behalf of Resort Hotels PLC. Herewith copy Newspaper Report dated 23rd July 1997.
• Equitable Life. We acted on behalf of over 600 Investors in relation to Guaranteed Annuity Rates which ultimately led to the successful Test Case in the House of Lords. Herewith copy Newspaper Reports dated 20 July 2000 and 20 December 2000.
• Split Capital Investment Trusts. We acted on behalf of a large number of Investors in different Split Capital Investment Trusts and concluded one major financial settlement and other minor ones. Herewith copy Newspaper Report dated 30 March 2002

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