Rock shareholders call emergency meeting

Two major shareholders, RAB Capital and SRM Global, called the meeting and are urging other shareholders to block any attempts to buy more than 5% of the bank’s shares, the power to issue new shares or buy assets. However, the chairman of Northern Rock, Bryan Sanderson, has urged shareholders to vote against the restrictions, saying they could do further damage to the beleaguered firm. The bank currently has two potential buyers, Virgin Group and Olivant, with both bidders receiving preferred status from the management of Northern Rock. In September, the bank was forced to borrow money f...