IN BRIEF: Friendly takeover
Wednesday 08 February 1995
89 that the board was not entitled to make .
The takeover, in which Friendly will buy the property, Hellaby Hall in Yorkshire for £1.5m, quantifies the losses applicable to affected policies. Members have accepted a 12 per cent levy on their policies to meet the bill but must approve the takeover by a two thirds majority at a special meeting in May.
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