How much will your SIP 2014 Free Shares be worth?

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Initial market value may be different to the value if/when you choose to sell your Free Shares
Free Shares

SIP 2014 Free Shares will be awarded as soon as possible in the new tax year, which starts on 6 April 2014. The initial market value of SIP 2014 Free Shares will be determined by the closing mid-price on the day of allocation. The expected allocation date is 9 April 2014.

The closing mid-price is the mid-point between the lowest price at which investors are prepared to sell Royal Mail shares and the highest price at which investors are prepared to buy their Royal Mail shares, based on the last trades of the day.


Holding period

Remember, Free Shares must be kept in the SIP for at least three years after they are given to eligible employees before they can be sold or transferred out of the SIP, except in certain circumstances.

The price of a Royal Mail share can go down as well as up. The value of an employee’s shareholding would be determined by the share price if/when they sell their shares.