As part of our plans to become a bank, we held a series of votes on 21 May 2020, where our investment customers voted on whether to convert their investments to bank deposits. Each of the proposed resolutions passed and the results are detailed below.

We promised to donate £1 to charity for each customer that voted.  10,868 customers participated across the three schemes, so we have made a donation of £10,868 to Age UK.

Following the scheme meetings, the courts are required to sanction each scheme. The Fortress Bond and Income Housa schemes were sanctioned on 3 June 2020. You can find a copy of the Fortress Bonds sealed order here and a copy of the Income Housa sealed order here.  The Growth Housa court hearing is scheduled for 5 June 2020.

We expect to become a fully authorised bank in the next few weeks and the conversion will follow shortly afterwards.  You can find out more here


Voting on the proposal to turn Fortress Bonds into bank deposits

Resolution 1
To approve the scheme of arrangement between Castle Trust Direct plc and its Scheme Creditors and referred to in the Notice convening the Scheme Meeting (either with or without modification).
passed 97.4% by value and 97.8% by number of investors voting.

Resolution 2
To approve the scheme of arrangement between Castle Trust Capital plc and its Scheme Creditors and referred to in the Notice convening the Scheme Meeting (either with or without modification).
passed 97.4% by value and 97.8% by number of investors voting.

You can find a copy of the advertisement for the sanctions hearing here.

Voting on the proposal to turn Income Housas into structured bank deposits

Resolution 1
To approve the scheme of arrangement between Castle Trust Income Housa plc and its Scheme Creditors and referred to in the Notice convening the Scheme Meeting (either with or without modification).
passed 100% by value and 100% by number of investors voting.

Resolution 2
To approve the scheme of arrangement between Castle Trust Capital plc and its Scheme Creditors and referred to in the Notice convening the Scheme Meeting (either with or without modification).
passed 100% by value and 100% by number of investors voting.

You can find a copy of the advertisement for the sanctions hearing here.

Voting on the proposal to turn Growth Housas into structured bank deposits

Resolution 1
To approve the scheme of arrangement between the Companies and the Scheme Shareholders and referred to in the Notice convening the Scheme Meeting (either with or without modification). 
passed 87.7% by value and 84.6% by number of investors voting.


Mortgages
Your home may be repossessed if you do not keep up repayments on your mortgage. Loans are subject to status, terms and conditions. This website is for information purposes only. If you are in any doubt regarding suitability of our products please seek advice from an accredited independent mortgage adviser.

Savings
Your eligible deposits with Castle Trust Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered. For further information about the compensation provided by the FSCS, refer to the FSCS website at fscs.org.uk.

Castle Trust is the trading name of both Castle Trust Capital plc (company number 07454474) and Castle Trust Capital Management Limited (company number 07504954) both registered in England and Wales with registered offices at 10 Norwich Street, London, EC4A 1BD. Castle Trust Capital plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, under reference number 541910. Castle Trust Capital Management Limited is authorised and regulated by the Financial Conduct Authority, under reference number 541893.

© 2020 Castle Trust Bank. All rights reserved.

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