Staff to get up to 1% more shares

[wdo1256]

Just a small point

When we were privatised 10% of the company was put aside for employees.

How comes on the latest sale we are getting 1% of 15%, surely 10% of 15% is 1.5% not 1%.

Better in our pockets rather than the city people who brought the shares for £3.30 than sold them for £6.00 with in a day, even thought they agreed with the government that they would keep the shares for 6 months.

[Spy]

1% of a 1,000,000,000 shares is 10 million. Divided by approx. 130,000 eligible staff = 77 shares each

1% of 150,000,000 remaining shares is 1.5 million. Divided by approx. 130,000 eligible staff = 11 shares each.

Take your pick.

And just for the record. We were not gifted 10% of the company ( ie; 100 million shares at float ).
In my opinion we were gifted 8.5% ( 85 million shares ) of the company.
Equiniti, who were appointed to hold these shares for us, were quoted as holding something like 84,750,000 in a holdings RNS after floatation.
The other 15% we could buy through the share save scheme.

So once again the majority of us were all mislead.

All in my opinion of course. And I stand to be corrected.

[TrueBlueTerrier]

Other more recent articles have said its going to be £50,000,000 worth of shares which at current valuation is around 10,000,000 shares.

Source: http://www.employeebenefits.co.uk/home/ ... 60.article" onclick="window.open(this.href);return false;

But my feeling is don't count the shares untill we get them.

[aiden01]

Other more recent articles have said its going to be £50,000,000 worth of shares which at current valuation is around 10,000,000 shares.

Source: http://www.employeebenefits.co.uk/home/ ... 60.article" onclick="window.open(this.href);return false;

But my feeling is don't count the shares untill we get them.

it also says 1,500 members of staff where have we all gone sacked and no,one has told us

[El-Bandito]

Huh? Doesn't matter what the share price was or is. If it was priced at 500p a share back then we'd have got 10% (now 11%), being a set number of shares; if it was priced at 330p a share we'd have got the same 10% (11%) and the same number of shares. Just means those same shares are worth more now than they were then.

I am certain that Vince Cable stated at the time of floatation that RM employees would receive a 'minimum' of 10% in shares. Somewhere along the line we were told that the maximum we could receive was £2999.99p worth of shares. Therefore the higher the floatation price the less shares RM employees would receive. If you had forgotten. Vince Cable stated. Minimum of 10%.

[RobertT]

Huh? Doesn't matter what the share price was or is. If it was priced at 500p a share back then we'd have got 10% (now 11%), being a set number of shares; if it was priced at 330p a share we'd have got the same 10% (11%) and the same number of shares. Just means those same shares are worth more now than they were then.

I am certain that Vince Cable stated at the time of floatation that RM employees would receive a 'minimum' of 10% in shares. Somewhere along the line we were told that the maximum we could receive was £2999.99p worth of shares. Therefore the higher the floatation price the less shares RM employees would receive. If you had forgotten. Vince Cable stated. Minimum of 10%.

The £3,000 limit applies to the value of shares we can receive into the SIP per financial year. So full timers actually got 613 shares worth £2,997.57 on 15th October 2013, and a further 116 shares worth £597.40 on 9th April 2014.

[paulthepostie]

Well this is strange. I just called the equity share help-line asking when we will be allocated the next one per cent of shares and no one there knows anything about it!.

The chap on the phone even asked his colleagues and manager and they said there is nothing on the system mentioning about any extra shares.

I explained that it was mentioned by George Osborne after the recent latest sell-off and the reply was that haven't a clue. That bodes well!.