Colleague shares

[mr hil.]

Colleague shares....are we still due a payment from these in January.....the way I thought the 2010 agreement was written we had lost the shares in leuie of the "bonus" payments we will be getting when we inplemnt the revisions etc.


My Dom is under the impression that we still have the shares and we are soon due for the first payout...he has advised us all to cash them in pronto just in case they are lost when we get privatised...

Do we still have them or not.....?

[fishtank]

http://www.royalmailchat.co.uk/communit ... 15#p306225" onclick="window.open(this.href);return false;

[clashcityrocker]

Your DOM is a useless prick.

[mr hil.]

http://www.royalmailchat.co.uk/communit ... 15#p306225

Thanks I missed that and I searched the wrong forum......first

So we still have the shares and will get some cash next year......ooooh I can't wait..maybe they will be worth a whole penny each by January!!!

[mr hil.]

Your DOM is a useless prick.

Actually he is really OK he tries to look after us as best he can......he is often in trouble for not doing as his immediate bosses say.... or at least not until his third warning to do it or else.....so please don't lump all Doms with the same Brush up the one creek without a fire

[fishtank]

http://www.royalmailchat.co.uk/communit ... 15#p306225

Thanks I missed that and I searched the wrong forum......first

So we still have the shares and will get some cash next year......ooooh I can't wait..maybe they will be worth a whole penny each by January!!!

They way the company's finances are allegedly going...you may owe them for the shares.

[mr hil.]

Just Like my Lloyds shares..it was horrible when thay asked for a couple of million the other year...Oh the trouble with being a "NAME"

[jack straw]

Actually he is really OK he tries to look after us as best he can......he is often in trouble for not doing as his immediate bosses say.... or at least not until his third warning to do it or else.....so please don't lump all Doms with the same Brush up the one creek without a fire

Slurp slurp. Put your tongue back in your mouth, mr.

[TrueBlueTerrier]

Your DOM is a useless prick.

Probably, but in this case his suggestion is a reasonable one, and the fact that his dates MAY be wrong as I thought payment was April/May, he is still averaging better advice than most DOMs that get mentioned on RMC.

[TrueBlueTerrier]

Actually he is really OK he tries to look after us as best he can......he is often in trouble for not doing as his immediate bosses say.... or at least not until his third warning to do it or else.....so please don't lump all Doms with the same Brush up the one creek without a fire

Slurp slurp. Put your tongue back in your mouth, mr.

Uncalled for in my opinion.

He may indeed have a good manager, and people slagging him off because he thinks so is juvenile and just as acceptable as members of the public calling us Militants and Dinosaurs when we stick up for our rights.

OK there are a hell of a lot of bad managers in RM, but there are some good ones and we should try to keep them, not slag people off for having an opinion just because your manager is one of the typical ones.

[clashcityrocker]

Your DOM is a useless prick.

Probably, but in this case his suggestion is a reasonable one,

As I understand it (and I could be wrong) you don't have the option of "cashing them in". You can't "cash in" next years payment as well because you fear privatisation may render the Colleagushares worthless.
It's a case of -"here's this years money".


So although the epithet "useless prick" may have seemed a bit harsh, given the day I had had and the ridiculous nature of the advice I stand by it.
And he tells you he is trying to do his best for you and going against his boss etc but really he is just stringing you along otherwise they'd remove him. He is a lying useless prick IMHO, just like all the others.

[TrueBlueTerrier]

Your DOM is a useless prick.

Probably, but in this case his suggestion is a reasonable one,

As I understand it (and I could be wrong) you don't have the option of "cashing them in". You can't "cash in" next years payment as well because you fear privatisation may render the Colleagushares worthless.
It's a case of -"here's this years money".


So although the epithet "useless prick" may have seemed a bit harsh, given the day I had had and the ridiculous nature of the advice I stand by it.
And he tells you he is trying to do his best for you and going against his boss etc but really he is just stringing you along otherwise they'd remove him. He is a lying useless prick IMHO, just like all the others.

According to the booklet we got on colleague shares the shares started in 2007. The first 3 dividend payments were due June of 2008, 2009 and 2010. (we got the 2010 as part of the Buzz Lightyear deal).

The fourth and fifth year (2011 and 2012) of the plan is when you could sell them back to RM (or you could transfer the value to your pension)

When can I sell my ColleagueShares?
If you want to, you will be able to sell some of your
ColleagueShares back to the Company in four years’
time. Or you can decide to keep them for another year
to see if they go up in value further. It will be your choice.
We will send you more information at the time

ftp://ftp.royalmail.com/Downloads/publi ... ochure.pdf" onclick="window.open(this.href);return false; <<< is the on-line edition of the booklet everyone eligible for shares should have got.

[clashcityrocker]

But does any of that booklet still stand.
Can you still transfer the value to your pension?
Can you still keep them for another year and sell them in 2012?
Reading Fishtank's letter none of that now seems possible............or is it?

[Big Daz]

It stands untill we are told otherwise, the first buy back will take place before any sell off takes place.

CWU wanted to do something different with the first two allocations as part of 2010 but couldnt due to legal technicalities, I wouldnt be surprised if legal issues mean RML have to buy back.

[fishtank]

But does any of that booklet still stand.
Can you still transfer the value to your pension?
Can you still keep them for another year and sell them in 2012?
Reading Fishtank's letter none of that now seems possible............or is it?

You are right CCR the booklet is now meaningless.
The buybacks in 2011 and 2012 are compulsory,the actual date of the buyback fixed by RM and the amount determined by a complex equation that no-one understands..
It would be better to see the shares as simply two lump sums for the next two years.
The colleagueshare scheme is in fact defunct in all but name.