Kent Reliance Provident Society: Difference between revisions
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|name = Kent Reliance Provident Society |
|name = Kent Reliance Provident Society |
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Revision as of 11:02, 13 January 2011
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| Company type | Mutual |
|---|---|
| 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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