Royal Mail Shares

i_wanna_save_money!

I can't see this is the thread, but how do employees stand with this? Do the same rules apply re: allocation? If a postman applied for £10,000 worth what would they get? Would they get £10,000, £749.10 or £0?

latecomer

Apparently they get £10,000 and a P45 in the post

MABLE

We only applied for the min amount and unlike some did not want to be too greedy.

bikeman

if they're holding on to over payments until 21 Oct that's outrageous. with 20x over requests, the interest must be worth millions.

nbrewitt

Feeling a little short changed. I applied for more than £10k mainly on the expectation of massive scaling back. Surely those who applied for more than this should have at least been allocated £750 worth of shares. For the record I wasn't just speculating just looking for a better return than my savings.

Hermann

HL had my (small) refund already showing on my account just before the system logged me out at 8am.

So it's already there.... I just can't get to it!

Trentenders

nbrewitt wrote: »

Feeling a little short changed. I applied for more than £10k mainly on the expectation of massive scaling back. Surely those who applied for more than this should have at least been allocated £750 worth of shares. For the record I wasn't just speculating just looking for a better return than my savings.

If you're not speculating, just go and buy some now.

Doshwaster

i_wanna_save_money! wrote: »

I can't see this is the thread, but how do employees stand with this? Do the same rules apply re: allocation? If a postman applied for £10,000 worth what would they get? Would they get £10,000, £749.10 or £0?

The employee free shares (worth about £2000) were guaranteed. However, they cannot be sold for 3 years due to tax rules.

SAHD_Jim

nbrewitt wrote: »

Feeling a little short changed. I applied for more than £10k mainly on the expectation of massive scaling back. Surely those who applied for more than this should have at least been allocated £750 worth of shares. For the record I wasn't just speculating just looking for a better return than my savings.

I was in exactly the same position with my SIPP. I had the cash available, expected scaling back so asked for a big lump of £20K. But according to Vince Cable, that means I am not "Mrs Miggins" and so they don't want my business.

At the same time a Hedge fund will have made over £300k for each £million it holds. I note that nowhere have they said that any institutional that asked for "too much" will get none, they are just scaled back.

Freecall

i_wanna_save_money! wrote: »

I can't see this is the thread, but how do employees stand with this? Do the same rules apply re: allocation? If a postman applied for £10,000 worth what would they get? Would they get £10,000, £749.10 or £0?

From the BBC

More than 93,000 people who submitted an application for the minimum value of shares will receive their order in full, with 37% of investors getting at least half of the amount they wanted.

Royal Mail employees - including bosses - who applied for up to £10,000 worth of shares through the staff priority offer will receive their orders in full, the Government said.

The value of free staff shares will be based on the closing price of shares next Tuesday, when shares will be openly traded and retail investors will be able to buy and sell the stock.