Some Royal Mail Share Certificates Issued In Error

The Telegraph reports that an employee of Equiniti, the firm handling Royal Mail shares bought via the Government's website, has admitted that a software error was responsible for investors being mistakenly issued with share certificates, according to one shareholder.

The shareholder contacted The Telegraph to say that a member of the company's call centre staff, had "spilt the beans" about the error on the Equiniti web page on which customers chose how they wanted to hold the shares.

The receipt of physical certificates can delay the speed at which an investor wishes to sell/receive the proceeds from the sale of his/her share allocation.

When asked previously about the large numbers of people who claimed to have received unwanted certificates, Equiniti said:

"We have investigated cases which have been brought to our attention and in these cases our records show that share certificates were opted for."

Royal Mail Shares

Shares in Royal Mail closed at 489p on the company's first day of full trading on Tuesday, as at the time of writing they currently stand at 475p.

They were priced at 330p.

Royal Mail Bonanza

Conditional dealings in Royal Mail that began to day for City institutions produced an initial rise of 38% (456p on the offer price of 330p), this fell back to around 444p.

Private investors will receive 227 shares each, and official listing/trading will commence next Tuesday.

Back to the 1980's we come!
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Royal Mail Sell Off

Sky News reports that over 100,000 members of the public have applied to buy shares in Royal Mail ahead of last night's deadline. This makes the £3.3BN sale one of the largest privatisations for decades.

Approximately 150,000 Royal Mail staff will receive about £2200 of free shares.