RAB Capital urges Northern Rock shareholders to vote against nationalisation

RAB Capital has written to shareholders of troubled bank Northern Rock topersuade them to vote to k...

RAB Capital has written to shareholders of troubled bank Northern Rock topersuade them to vote to keep the company private. This comes amid fears the Board will bow to 'political pressure' to nationalise. The RAB Special Situations (Master) fund owns almost 8% of Northern Rock. In his letter, Philip Richards, CEO of RAB Capital and fund manager of theSpecial Sits vehicle, said: "Due to external pressure the Board of Directorsis currently experiencing, shareholders' interests appear overshadowed bypolitical considerations." RAB, together with other majority shareholder SRM Global Master Fun...