David Stonebanks, the campaigner for Standard Life's demutualisation appears to have hit problems with the wording of his latest petition.
Apparently, Mr Stonebanks had published the latest demutualisation petition on his web site but noticed an error when some members returned their signed forms.
Mr Stonebanks' bid for converting the mutual insurer to a PLC may well be made in time for the company's annual general meeting in 2004.
Our View
This will be the second real attempt at demutualisation as the first was thrown out due to his resolutions apparently not being valid. News is that Mr Stonebanks has had legal people review the new resolutions before they move ahead.
We noticed that Standard Life has commenced an advertising campaign through various media over the last few weeks.
Whether this is just to increase business levels or maybe awareness of the Standard Life name is, as yet, unclear.
However, we still believe that Standard Life will demutualise when the management are ready, and never before!!
Search the news archive for more on Standard Life.