Kent Reliance Provident Society: Difference between revisions
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{{Infobox company |
{{Infobox company |
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|name = Kent Reliance Provident Society |
|name = Kent Reliance Provident Society |
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|logo = [[image:KRPS.gif]] |
|logo = [[image:KRPS.gif]] |
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| genre = |
| genre = |
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| founded = 2011 |
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| founder = |
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| location = [[Chatham, Kent]], |
| location = [[Chatham, Kent]], |
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Kent Reliance Provident Society (KRPS) is an [[Industrial and Provident Society]] in the [[United Kingdom]]. KRPS has been set up |
Kent Reliance Provident Society (KRPS) is an [[Industrial and Provident Society]] in the [[United Kingdom]]. KRPS has been set up to hold the majority of shares in [[OneSavings]]<ref>{{cite web|title=Kent Online:Kent Reliance Building Society to become a bank|url=http://www.kentonline.co.uk/kentonline/news/2010/november/19/kent_reliance_building_society.aspx}}</ref> following the transfer of [[Kent Reliance Building Society]] to OneSavings PLC in Feburary 2011. <ref> {{cite web| url=http://www.krps.com/introduction.htm|title= KRPS:Indroduction}} </ref>The remaining shares in [[OneSavings]] are owned by the [[private equity firm]] [[JC Flowers]].The transfer was narrowly approved by Kent Reliance Building Society members <ref>{{cite web|title=Wikipedia: OneSavings|url=http://en.wikipedia.org/wiki/OneSavings}}</ref>, 75.8% of members voted for the tranfer, with 75% required to approve it. |
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KRPS claims on it's website that "...it is in the members' best interests to retain a structure that can allow for continued mutuality (through KRPS), rather than bring about an outright demutualisation."<ref> {{cite web| url=http://www.krps.com/yourquestions.htm|title=KRPS:Your Questions}} </ref> ,however, this could change in the future if KRPS reduces it's stake in OneSavings.<ref> {{cite web| url=http://www.bbc.co.uk/news/business-10849892|title=BBC News: Kent Reliance building society unveils banking plan}} </ref> |
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All members of [[Kent Reliance Building Society]] will become members of KRPS as of Feburary 1st 2011. <ref>{[cite web| url=http://www.krps.com/yourquestions.htm|title=KRPS:Your Questions}} </ref> |
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==See Also== |
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[[Kent Reliance Building Society]] |
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[[OneSavings]] |
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[[JC Flowers]] |
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==References== |
==References== |
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{{reflist}} |
{{reflist}} |
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Revision as of 09:52, 13 January 2011
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| Company type | Mutual |
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| Industry | Financial services |
| Founded | 2011 |
| Headquarters | Chatham, Kent, United Kingdom |
Key people | Malcom McCaig |
| Website | http://www.krps.com |
Kent Reliance Provident Society (KRPS) is an Industrial and Provident Society in the United Kingdom. KRPS has been set up to hold the majority of shares in OneSavings[1] following the transfer of Kent Reliance Building Society to OneSavings PLC in Feburary 2011. [2]The remaining shares in OneSavings are owned by the private equity firm JC Flowers.The transfer was narrowly approved by Kent Reliance Building Society members [3], 75.8% of members voted for the tranfer, with 75% required to approve it. KRPS claims on it's website that "...it is in the members' best interests to retain a structure that can allow for continued mutuality (through KRPS), rather than bring about an outright demutualisation."[4] ,however, this could change in the future if KRPS reduces it's stake in OneSavings.[5]
All members of Kent Reliance Building Society will become members of KRPS as of Feburary 1st 2011. [6]
See Also
Kent Reliance Building Society
References
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