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Employees have stake in the mail

AS one of Northern Ireland's largest employers, your readers may be interested to understand what the recent announcement by the Government on Royal Mail free shares for employees means for local postmen and women and other Royal Mail staff.

The Government said it intends to dispose of a majority of its shares in Royal Mail through a flotation of the company on the London Stock Exchange.

It will automatically give 10% of all the shares in the business free to eligible Royal Mail employees in the UK at the time of the flotation.

This is the largest free stake of any major UK privatisation. The overwhelming majority of Royal Mail's 150,000 employees in the UK, including employees working in Parcelforce Worldwide, will be eligible for free shares, if they have worked for the company from July 10, 2013 and continue to do so until flotation.

This will mean that our employees will have a meaningful stake in the company.

GARY CRAWFORD

General manager

Royal Mail Northern Ireland

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