free shares

[paulp]

if someone leaves or get sacked who gets there shares

[barrowc]

Those shares go into the pot for the next distribution of Free Shares (when and if there is one). If they haven't been dished out by October 2017, those shares will either be distributed as another load of Free Shares (as long as we get at least some unspecified minimum amount each), some other "all-employee share arrangement" or if there is less than £500K then the money goes to the Rowland Hill Fund and other postal charities

Page 431 of the prospectus:

Employee Free Shares which it is not possible to award as Employee Free Shares to Eligible Employees (“Excess Shares”) and any Employee Free Shares that have been awarded to Eligible Employees on or around Admission or on or after 6 April 2014 but which are subsequently forfeited by Eligible Employees who leave employment with the Group during the relevant three-year holding period following the date of the relevant award (“Forfeited Shares”) will be held by the Trustee for future allocation under the Plan or otherwise for distribution to or for the benefit of employees of the Company and RMG from time to time or for charitable purposes (see below). The Trustee will not be entitled to exercise any voting rights nor will it receive any dividends in respect of any Excess Shares or Forfeited Shares for as long as such Ordinary Shares are not awarded to or held on behalf of employees of the Company and RMG.

If any Excess Shares and/or Forfeited Shares are held by the Trustee on the fourth anniversary of Admission, the Trustee shall be required, at the Board’s direction, by no later than the fifth anniversary of Admission, to allocate such Ordinary Shares under the Plan by way of a further free share award, unless this would result in a free share award to each recipient below a minimum value of Ordinary Shares (which may not exceed £100 worth of Ordinary Shares without the prior written consent of the Secretary of State) determined by the Board. If the Board chooses not to make a free share award over those Ordinary Shares, the Board may direct that those Ordinary Shares be distributed to employees of the Company and RMG under similar all-employee share arrangements or, if in the Board’s reasonable opinion it is not practicable to make such a distribution to employees and the total value of the Excess Shares and/or the Forfeited Shares is less than £500,000, the Board may direct the Trustee to apply such Ordinary Shares for the benefit of the Rowland Hill Memorial and Benevolent Fund or any other charity established for the benefit of postal workers and/or their dependants.