Question in the HoC - 11 Nov 12

[TrueBlueTerrier]

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Gregory Campbell (East Londonderry, DUP)

To ask the Secretary of State for Business, Innovation and Skills how many people received shares in Royal Mail Group Ltd at the recent flotation; how much was retained due to the difference in the £750 worth of shares applied for and the £749.10 given in shares; and what happened to the amount retained.

Michael Fallon (Sevenoaks, Conservative)
Over 700,000 members of the public and Royal Mail employees purchased shares through the Royal Mail Share Offer. As stated in the Prospectus, amounts less than the Offer Price of one Ordinary Share have not been refunded but will be given to charity. Approximately £70,000 will be donated to the British Postal Museum and Archive.

[TrueBlueTerrier]

Gregory Campbell (East Londonderry, DUP)

To ask the Secretary of State for Business, Innovation and Skills if he will discuss with the Board of Royal Mail Group Ltd on the possibility of offering dividend reinvestment plans to promote continued investment by small shareholders.

Michael Fallon (Sevenoaks, Conservative)

The introduction of dividend reinvestment plans is a matter for Royal Mail in consultation with all its shareholders. The Secretary of State for Business, Innovation and Skills, Vince Cable, has no plans to discuss this with the Royal Mail plc Board.