Royal Liver Group

Royal Liver reports that the 157th Annual General Meeting of the Society took place in Ayr between 8th and 11th May.

The following election of Committee of Management members took place. David Woods was re-elected as Non-Executive Chairman for a second term. Raymond Armstrong was re-elected as a Non-Executive Director and Mary Redmond was elected as a Non Executive Director.

Although talks are at an early stage, the meeting provided the Committee of Management an opportunity to discuss the approach from Royal London with the Delegation. In addition, to reiterate the fact that a core consideration, for both the Board and Delegation in evaluation of the approach, will be the over-arching theme of what is in the best interests of the Society’s members.

As per the announcement of 30th April 2007, discussions with Royal London are at a very early stage and there is no certainty that they will result in a proposal that will be put to the Delegation. The Board is likely to take time to fully consider the merits of any transaction.

No further announcement can be expected until such consideration has been undertaken, although it is the intention of the Committee of Management to convene an SGM (Special General Meeting) of the Delegation during the late summer to update all concerned on the progress of discussions with Royal London and the emergence of any potential transaction.

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For more information please contact Richard Edwards at Royal Liver Group on +44 (0)151 600 4268.