Royal Mail Shares

gt94sss2

Vortigern wrote: »

No, it's not allowed. But how will the vendors detect multiple applications? When will they be detected? - and what action would be taken on discovery?

You mean apart from the fact one would be committing an act of fraud and the vendor is the government?

I suspect intermediaries will have to hand over the identities/addresses of the underlying owners to HMG who can then simply check for duplicates.

Regards
Sunil

luvpump

can a member of the general public apply for more than £10000 ??

thick_tom

i would let the share price level out before buying any.

Vortigern

luvpump wrote: »

can a member of the general public apply for more than £10000 ??

Apparently there is no maximum amount. X-O lists amounts up to £100,000 on their application. The prospectus says "To apply to invest an amount of more than £50,000, it must be in a multiple of £10,000"

There are comments earlier in this thread about the ways applications might be scaled back in the event of oversubscription.

Vortigern

Vortigern wrote: »

How will the vendors detect multiple applications? When will they be detected? - and what action would be taken on discovery?

gt94sss2 wrote: »

You mean apart from the fact one would be committing an act of fraud and the vendor is the government?

I suspect intermediaries will have to hand over the identities/addresses of the underlying owners to HMG who can then simply check for duplicates.

I have absolutely no intention of making multiple applications and I'm not suggesting that anybody should try it, other than for self and spouse, but I doubt HMG's ability to detect such action. There's no unique identifier like a National Insurance number. One could, if so minded, submit one application using one's middle name and one application without it.

And is it really fraud? If I buy a bag of apples from a greengrocer and another bag of apples from a supermarket, have I committed fraud?

Just curious

Perelandra

luvpump wrote: »

can a member of the general public apply for more than £10000 ??

Yes, by applying through an intermediary, or by cheque directly.

If you apply directly and pay by debit card, you're limited to £10,000.

gt94sss2

luvpump wrote: »

can a member of the general public apply for more than £10000 ??

Yes - either through a broker or directly . If directly through you need to send a cheque in with a postal application which you can print on the website (or get from some post offices) as you can't pay online - and the form needs to arrive by/on Tuesday.

Regards
Sunil

gt94sss2

Vortigern wrote: »

I have absolutely no intention of making multiple applications and I'm not suggesting that anybody should try it, other than for self and spouse, but I doubt HMG's ability to detect such action. There's no unique identifier like a National Insurance number. One could, if so minded, submit one application using one's middle name and one application without it.

And is it really fraud?

Yes, it would be. Also, when you complete the form, the declaration at the end includes words stating you agree that is is the only application in your name/for your benefit etc.

Regards
Sunil

vectistim

Vortigern wrote: »

And is it really fraud? If I buy a bag of apples from a greengrocer and another bag of apples from a supermarket, have I committed fraud?

Just curious

It seems quite likely it will be limited and people will not get what they asked for, in previous privatisations, it has been weighted in favour of the smaller invester, so an application for £1,000 might get the full amount but one for £20,000 might only get a quarter, so if you applied for £1,000 from 20 different sources you might get more than you should be entitled to.

Mr_K

Vortigern wrote: »

And is it really fraud? If I buy a bag of apples from a greengrocer and another bag of apples from a supermarket, have I committed fraud?

Just curious

Yes, it's fraud to make more than one application. Whether they'd pursue it is questionable, probably just disallow both applications and keep the money to teach you a lesson.

As for the apples, I think you're safe as i'm not aware of any apple rationing.