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Chelsea to merge with Catholic

Catholic Building Society held a Special General Meeting (SGM) where its shareholding and borrowing members showed their approval for the proposed merger with Chelsea Building Society. Catholic Building Society members approve the merger with Chelsea Building Society Subject to confirmation by the Financial Services Authority (FSA), the effective date for the merger is expected to be 31 December 2008.

Qualifying Shareholding menbers of Catholic will receive a one-off merger bonus payment of 2.2% of the lower of:
(a) the aggregate balances invested in share accounts for which the member is the sole or first named account holder in the records of the Catholic as at the close of business on 31 May 2008; and (b) the aggregate balances invested in share accounts for which the member is the sole or first named account holder in the records of Catholic as at the close of business on the day before the Effective Date. The Effective Date is expected to be 31 December 2008. This will be subject to a minimum pre-tax bonus of £100 and a maximum pre-tax bonus of £500.

Qualifying borrowing members of Catholic will receive a one-off pre-tax merger bonus payment of £100.

Catholic members requiring further information about the merger should call 0845 607 6702 which will be open 9am to 5pm Monday to Friday (other than bank holidays).

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