Money, Money

seeker019 · Post by **seeker019** » 20 Apr 2008, 20:04

Just an update:

Flexability Payoff is due 25th April (for most if us) Â£400 (pro-rata

Share in the Business Â£800 due in June just been sorting through some old papers, Â£800 is the largest payment for the shares due for payment in June 2008 (maybe pro-rata??)

Maybe something to look forward to instead of the forthcoming sh*t.

asbru · Post by **asbru** » 20 Apr 2008, 20:28

Yeah, but that Â£800 'colleague share stakeholder dividend' was based on meeting RM's vague targets and objectives. I would be hardly surprised if they tell us that it's half that, or less, or maybe nothing at all. No doubt they'll make up some reasons to do with industrial action etc for not meeting targets.

Posthem · Post by **Posthem** » 20 Apr 2008, 20:32

we've been told were getting the 400 next week but just out of curiosity does everyone get the shares thing or do u have to have been there for a certain amount of time

asbru · Post by **asbru** » 20 Apr 2008, 20:45

Well they issued the 'shares' a couple of years back I think, another great management plan from :lfo :cfo to get us to work twice as hard for the promise of some sort of one off reward. All full timers got 408 shares worth Â£1 each, part timers got a pro rata amount of shares. This June there's a stakeholder dividend of up to Â£800 and they'll issue more shares, then next year they'll pay out something else and issue more shares, then in the fifth year we can sell the shares back. But surprisingly RM decided the way to calculate the value of the shares, so it'll never be as good as they say it will be.

Basically you have to have the 'shares' to get a dividend. They even issued a certificate with them!

robd · Post by **robd** » 20 Apr 2008, 22:10

Don't want to put a dampener on things,but don't be fooled by the promises of more money tomorrow.
i think you'll find it's Â£400 (in april)based on local savings/budget,or as we like to call it,strings,with a
further Â£400 (potentially) paid in june based on overall group profit.
so it's a maximum of Â£800,remember these are not real shares,but profit related pay.

Post by **Carnoustie** » 20 Apr 2008, 22:39

.... and anyone remember how long it took for RM to announce the figures for the 2006/2007 financial year, which ended in April 2007 ? They were delayed longer than a Zimbabwean election result, presumably so the union couldn't put up an argument to RM's stance that the company 'could not afford' a decent pay rise

If they drag their heels again for this year's results, any 'dividend' isn't likely to be seen much before Christmas 2008

postghost · Post by **postghost** » 21 Apr 2008, 21:53

Would I be right in saying p/t will get about Â£230 for a 25 hour contract?

k979aaa · Post by **k979aaa** » 21 Apr 2008, 21:58

Carnoustie wrote:.... and anyone remember how long it took for RM to announce the figures for the 2006/2007 financial year, which ended in April 2007 ? They were delayed longer than a Zimbabwean election result, presumably so the union couldn't put up an argument to RM's stance that the company 'could not afford' a decent pay rise

If they drag their heels again for this year's results, any 'dividend' isn't likely to be seen much before Christmas 2008

Maybe the bastard's will line us all up first?.So meny in our place are walking wounded!.

Post by **TrueBlueTerrier** » 22 Apr 2008, 13:56

postghost wrote:Would I be right in saying p/t will get about Â£230 for a 25 hour contract?

Yes its pro rata 40 Hr Posties will get full whack rest will get equivalent - basically simply 10 x your contracted hours. But that is Gross before Tax and Ni are taken off.