Temporary Public Ownership
On 17 February 2008, the Chancellor of the Exchequer announced that the Government had decided to take Northern Rock into a period of temporary public ownership. The necessary legislation for this was passed so that the Ordinary, Preference and Foundation Shares of Northern Rock were transferred to the Treasury Solicitor on 22 February 2008. An independent valuer appointed by HM Treasury will determine the level of any compensation payable to shareholders.
Further details on temporary public ownership and the Company's intentions for the future direction of the business can be found in the statements below.
- Shareholder Relationship Framework
- 31 March 2008 - Summary of Proposed Business Plan
- 18 March 2008 - Northern Rock Intentions For Future Of The Business
- 22 February 2008 – Northern Rock PLC Temporary Public Ownership
- 22 February 2008 – HM Treasury Statement re Northern Rock
- 18 February 2008 - Northern Rock PLC Strategic Review Update
- 18 February 2008 - HM Treasury Statement re Northern Rock
© Northern Rock plc. 2009