Shares question

[balintober]

Quote from the shares letter we received "you cannot sell or take your free shares out of the SIP for at least three years, except in certain circumstances."
Does anyone know what these "certain circumstances" are?

[Dogs of War]

Retired on health grounds maybe?

[rehabron]

. You have an injury or disability and you can no longer work for the company.
. You are made redundant
. You retire
. The business is sold or transferred to another company
. You die

[pants123]

. You have an injury or disability and you can no longer work for the company.
. You are made redundant
. You retire
. The business is sold or transferred to another company
. You die

that is funny..... cannot take the share unless

you die............... no good to you when your died..........

[rehabron]

. You have an injury or disability and you can no longer work for the company.
. You are made redundant
. You retire
. The business is sold or transferred to another company
. You die

that is funny..... cannot take the share unless

you die............... no good to you when your died..........

Yes "pants123" the list of exceptions for not having to wait the 3 year period for reclaiming your shares is on your demise and your immediate family can reclaim the allocated shares as part of your estate without having to wait 3 years.

[Chelseablue]

And why didn't we get them right away instead of waiting a long 3 years in rm? Maybes most of us will have left by then ,,

[DGP1]

And why didn't we get them right away instead of waiting a long 3 years in rm? Maybes most of us will have left by then ,,

It's a tax thing, mainly because (I believe) the bosses used to get shares as part of their bonuses and then sell them off quick to make money and reduce their tax bill........just happens that it now applies to everyone.

Not that it matters, didn't pay a penny for them so I'm not losing anything no matter what.........personally I'd have preferred the company to not have been privatised but there you go.

[balintober]

I didn't think being skint and in need of a good holiday would qualify as a "certain circumstance"

[Lounge Lizard]

I didn't think being skint and in need of a good holiday would qualify as a "certain circumstance"

If you're 'skint' surely you need more overtime not 'a good holiday' which will just get you even more 'skint'.