Second Special General Meeting 12.30 p.m. 19 July 2018 PCS Headquarters, Clapham Junction.
Please find below the previous notice of the SGMs.
Notice of two Special General Meetings
Merger with 1st Class
The 2018 Annual General Meeting endorsed negotiations to merge with 1st Class Credit Union. It set out the negotiating aims and said that any proposed merger would be put to two Special General Meetings. The negotiations are nearing conclusion and therefore notice is given of the following in accordance with the guidance from the Regulator:-
A Special General Meeting will be held at PCS Headquarters, 160 Falcon Road, London, SW11 2LN on Wednesday 4 July 2018 at 12.30p.m.
A Special General Meeting will be held at PCS Headquarters, 160 Falcon Road,London, SW11 2LN on Thursday 19 July 2018 at 12.30p.m.
The Special General Meeting on 4 July is to vote on the following motion:
“That this meeting of members of the PCS Credit Union hereby resolves to transfer the whole of the stock, property and other assets and all engagements of the credit union to the 1st Class Credit Union.
This is in consideration of the 1st Class Credit Union issuing to each member of the PCS Credit Union
- paid up shares equal to the amount standing to the credit of each member in the share ledgers of the PCS Credit Union,
- debiting each member of the PCS Credit Union with the like amounts of loans as are debited to each member in the books of PCS Credit Union
This will happen on the date when the transfer of engagements becomes effective.”
A meeting with 1st Class will be held on 27 June and a report issued shortly after and before the SGM so that members will have up to date details of the negotiations to inform their decision.
Directors Report from the meeting on the 27th June
The second SGM on 19th July will be to ratify the decision of the first and a simple majority will be required.
PCS Credit Union Secretary.