The Building Societies (Transfer of Business) Regulations 1998

5.  The market value of, and dividends paid or to be paid in respect of, the shares, as follows— U.K.

(a) where such shares are not quoted on any stock market at the date of the transfer statement and are not preference shares, the estimated market value of the shares as if they had been issued on the date of the particulars of the financial position of the society referred to in paragraph 4 of Part I of this Schedule;

(b) where such shares are not quoted on any stock market at the date of the transfer statement and are preference shares, (i) the intended price of the shares, and (ii) the basis for determining the guaranteed rate of preference dividend to be paid to the holders of such shares;

(c) where such shares are quoted on any stock market at the date of the transfer statement—

(i) the quoted market price of the shares at the last reasonably practical date prior to the date of the transfer statement, and

(ii) the highest and lowest quoted market price of the shares during the period of twelve months ending with the last reasonably practical date prior to the date of the transfer statement, and

(iii) the dividend paid in respect of such shares for each of the last three years ending with the date of the transfer statement.

Commencement Information

I1 Sch. 1 Pt. 4 para. 5 in force at 2.3.1998, see reg. 1