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In the Guide to the Royal Mail Employee Share Offers: the Free Shares Offer and the Employment Priority Offer received this weekend, I note that RM are giving you 25 days to opt out.
The Royal Mail Opt-Out Form states:
Only complete and return this form if you do not want to be given free shares. The Opt-Out form is returned by you at your own risk. If you do want to be given free shares, please disregard this form, Your free shares will then be automatically given to you if you meet the eligibility criteria and other relevant conditions.
I do NOT want my Free Shares
1. By signing and dating this form I hereby notify Royal Mail and the Trustees that I want to OPT-OUT of the offer of Free Shares under the Plan made in connection with the Flotation of Royal Mail as set out in the letter to me (the "Invitation Letter").
2. I understand that if I OPT-OUT by completing this form and my form is received within 25 days of the date on which Royal Mail posted the Invitation Letter to me, I will lose the right to be given free Shares awarded under the Plan as set out in the Invitation Letter.
3. I understand that my decision to OPT-OUT of the offer of Free Shares under the Plan as set out in the Invitation Letter cannot be changed once this form has been received (duly completed) by the Trustee.
Return the form in the prepaid envelope provided so that we receive it no later than 9am on Monday 7th October 2013
This seems a short time considering that we do not know what the "other relevant conditions" are.
If staff do not reject the offer of free shares within the 25 days then surely Royal Mail will say the staff are 100% behind the floatation scheme.
the deliverer wrote:
If staff do not reject the offer of free shares within the 25 days then surely Royal Mail will say the staff are 100% behind the floatation scheme.
Really the union should be getting their soundbites ready, why should employee's not take something for free when they have no way of stopping the sale. I don't agree with the sale, but if it is going through, I'd like to be able send a letter (Or whatever you can do) to the AGM and complain about issues I see in RM and especially in my office. I expect a lot of staff may do this, it may be a back door way of bringing the B&H etc to shareholders notice, look what happened to Apple when the conditions at Foxcon the firm who had dire conditions in China, Apple and other firm had to make changes to the T&C of Foxcon to stall complaints from major shareholders.
This is just another bit of RM propaganda to try to influence the IA ballot. They are trying to make you think that by deciding you will accept shares you should not strike to safeguard your t&cs. They are not giving you any information about shares, like how many, how long you have to keep them, whether you lose them if you leave RM.
I would just ignore this letter.
baldrick wrote:This is just another bit of RM propaganda to try to influence the IA ballot. They are trying to make you think that by deciding you will accept shares you should not strike to safeguard your t&cs. They are not giving you any information about shares, like how many, how long you have to keep them, whether you lose them if you leave RM.
I would just ignore this letter.
It doesn't say how many shares because the final price hasn't been set at present but it DOES very clearly answer the other questions.