Ltb No: 138/14 - EMPLOYEE SHARES

[TrueBlueTerrier]

To: ALL POSTAL BRANCHES



Dear Colleague

EMPLOYEE SHARES

We were advised by Royal Mail last week that they are communicating from Monday 3rd March, the approach to allocating the 112 surplus shares outstanding from the original allocation of free shares to employees.

These surplus shares were held back due to HMRC rules that mean the maximum amount of free shares that can be allocated to an individual employee in any tax year is £3,000.

As previously communicated, the Union’s position on the allocation of free shares to CWU members is that it is a matter for the individual member to determine whether or not they accept them. We understand the allocation will be done on the same basis as previously i.e. individuals have to opt out if they do not want to receive them.

Separate to this development, we can advise that the Union is continuing to explore the possibility of setting up a trust to ensure we maximise collective voting rights of CWU members within a privately owned Royal Mail Group. This is at an early stage and we are currently in discussion with our lawyers and other experts in this field.

Further information on the trust approach will be issued in due course. Any enquiries on the above LTB should be directed to the DGS (P) Department.

Yours sincerely




Dave Ward
Deputy General Secretary (P)

[seniority19]

If I leave RM, do I keep my shares ?

[newtimes]

If I leave RM, do I keep my shares ?

If you just leave, no, wait 3 years yes, something about 5 years too I think.
Retirement, redundant, ill health you keep, no time limit.
If I am wrong will be corrected.