Royal Mail Shares

MABLE

Read in the Daily Telegraph today the government have not ruled out the possibly the shares may be done on a first come first served basis.
However if this is case why have they not made some statement supporting this. It would certainly save a lot of time and effort for the late comers.

Gambler

Gambler wrote: »

Thanks for this. I was going to wait until tonight to decide but looks like it will have to be sooner.

From the xo website:

Payment: You will need to ensure that funds are available on your account no later than 5pm on the 8th October. If cleared funds are not available we will be unable to proceed with your application. Payment must be made by debit card, bank transfer (BACS) or CHAPS. Please note that debit card and BACS payments usually take two working days to clear. You cannot make payment by credit card.

Vortigern

sandro24 wrote: »

I'm new to X-O and would like some advice..I would like to apply for 4k worth of Royal Mail Shares today, should I chose the Nominee account or ISA?

It won't make any difference in the short term, both ISA and nominee are free, both make the same charge to sell.

ISA might have some benefit if you intend to hold the shares long term, and you are a higher rate taxpayer. No benefit if you intend to sell as soon as possible.

gt94sss2

MABLE wrote: »

Read in the Daily Telegraph today the government have not ruled out the possibly the shares may be done on a first come first served basis.
However if this is case why have they not made some statement supporting this. It would certainly save a lot of time and effort for the late comers.

Because it would be a stupid way to allocate the shares - though no decision will be made until they see how many people have applied and for how much (that is how IPOs work)

Much more likely is this Guardian story which suggests the government will divert some of the shares originally intended for financial institutions to the retail share offer. This has happened in previous offers and means applications from the general public don't need to be scaled back as much as otherwise.

Regards
Sunil

sandro24

Vortigern wrote: »

It won't make any difference in the short term, both ISA and nominee are free, both make the same charge to sell.

ISA might have some benefit if you intend to hold the shares long term, and you are a higher rate taxpayer. No benefit if you intend to sell as soon as possible.

Thanks

tried opening account but got an email saying "Unfortunately we have been unable to verify your details. In order for us to proceed with your application, could you please send us a copy ...."

So looks like I'll have to use the Royal Mail website anyhow

Vortigern

MABLE wrote: »

Read in the Daily Telegraph today...

So the Torygraph is recycling stories from the Daily Wail

Glen_Clark

sandro24 wrote: »

I'm new to X-O and would like some advice..I would like to apply for 4k worth of Royal Mail Shares today, should I chose the Nominee account or ISA account?

I currently have not invested any money in a stocks & shares ISA, only my cash ISA.

Thanks in advance

Unless you are going to make more than £10,900 of capital gains in the year you sell your shares, or are a higher rate taxpayer, do not open a Stocks and Shares ISA. Although free to run at the moment a Stocks and Shares ISA costs £50 to close :eek:

Glen_Clark

Vortigern wrote: »

both (X-O) ISA and nominee are free,

S&S ISA costs £50 to close.

Kennyboy66

Glen_Clark wrote: »

Is it the underwriters talking the share price up?

Shares were over subscribed 7 days ago. Why would the underwriters talk the price up.

The grey market suggest a price of £4.00 ish.

Nonsense.

Vortigern

Glen_Clark wrote: »

a Stocks and Shares ISA costs £50 to close

I'd be inclined to leave one cheap share in the account to avoid the closure fee.


...but that wouldn't work, as noted by Glen Clark in post 326 below