The shareholders of both Notting Hill Housing and Genesis met separately this evening to vote on our proposals to merge. Both voted in favour.
Although this is an important milestone, there is lots more to do before we can formally merge. Most importantly, both sets of shareholders need to meet again to consider confirming this evening’s decision. Those meetings will take place on 1 February and a second vote will be held. For that vote, a simple majority needs to vote in favour, rather than the two-thirds majority required at this evening’s vote. We’ll also continue to talk to residents, colleagues and our funders.
We are grateful to all shareholders for their time in considering and challenging our proposals and coming to a decision. We appreciate that for some, this has been a very difficult process at times and we are especially grateful for their support in those circumstances.
The boards of both NHH and Genesis genuinely believe that our proposed merger is an exciting and positive move for residents and colleagues, as well as for London and the south east more widely. We look forward to continuing to work with all our stakeholders as our plans progress.