1-20 of 32 results for subject:Shares
Librarians' tools
- Search time
- 0.157 seconds
- Solr query time
- 0.004 seconds
- Search query
- subject:Shares
- We searched for
- subject_t:Shares OR subject_ses:92991
Type
House
Session
Year
Department
Member
Primary member
Answering member
More
Legislative stage
Legislation
Subject
Publisher
To ask the Secretary of State for Business, Innovation and Skills what estimate he has made of the proportion of Royal Mail staff who bought shares in the newly-privatised company in (a) Paisley and Renfrewshire North constituency, (b) Renfrewshire and (c) Scotland.
To ask the Secretary of State for Business, Innovation and Skills what estimate he has made of the proportion of Royal Mail staff who bought shares in the newly-privatised company in (a) Paisley and Renfrewshire North constituency, (b) Renfrewshire and (c) Scotland.
The Government has not made any estimates by constituency, county or country of shares bought by Royal Mail staff.
As part of the Royal Mail Initial Public Offering, each eligible employee has now received 729 shares free of charge. Only 372 of the 147,000 eligible employees opted out of the scheme. Approximately 99.75% of employees accepted the shares that we offered them. Under the Employee Priority Retail Offer, over 15,000 employees (just over 10%) bought additional shares in Royal Mail.
To ask the Secretary of State for Business, Innovation and Skills which priority investors in Royal Mail have subsequently sold all or part of their holdings of shares since the date of flotation; and what estimate he has made of the level of profits made in each case.
To ask the Secretary of State for Business, Innovation and Skills which priority investors in Royal Mail have subsequently sold all or part of their holdings of shares since the date of flotation; and what estimate he has made of the level of profits made in each case.
Maintained by Royal Mail and is subject to uncertainties (e.g. funds can hold their shares through a range of nominees/custodians).
Based on the Bloomberg register dated 23 April, we estimate that more than half of the pilot fishing investors allocated shares remain invested and that they hold shares equal to more than 50% of their combined allocations.
Given that the timings of sales and purchases are not available on a fund by fund basis, the Department does not know, and has not made any estimate, of any profits made by these investors (other than Lazard Asset Management whose representative told the Public Accounts Committee on 30 April the level of profit it made on the sale of Royal Mail shares for its clients).
To ask the Secretary of State for Business, Innovation and Skills pursuant to the answer of 9 April 2014, Official Report, column 291W, on Royal Mail, for what reasons the underwriters' discretionary fee has not been paid.
To ask the Secretary of State for Business, Innovation and Skills pursuant to the answer of 9 April 2014, Official Report, column 291W, on Royal Mail, for what reasons the underwriters' discretionary fee has not been paid.
No decision has been made on the payment of this discretionary payment.
To ask the Secretary of State for Business, Innovation and Skills what due diligence was undertaken by officials in his Department in relation to the reliability of the gentlemen's agreement on the holding of Royal Mail shares by priority investors.
To ask the Secretary of State for Business, Innovation and Skills what due diligence was undertaken by officials in his Department in relation to the reliability of the gentlemen's agreement on the holding of Royal Mail shares by priority investors.
There was no agreement—gentleman's or otherwise—on the holding of Royal Mail shares by priority investors.
To ask the Secretary of State for Business, Innovation and Skills what incentives were (a) offered to (b) accepted by priority investors in relation to Royal Mail privatisation.
To ask the Secretary of State for Business, Innovation and Skills what incentives were (a) offered to (b) accepted by priority investors in relation to Royal Mail privatisation.
No incentives were offered to priority investors.
To ask the Secretary of State for Business, Innovation and Skills who made the decisions and on what basis were the decisions made on how many shares would go to each priority investor, each institutional investor and each retail investor in respect of the privatisation of Royal Mail.
To ask the Secretary of State for Business, Innovation and Skills who made the decisions and on what basis were the decisions made on how many shares would go to each priority investor, each institutional investor and each retail investor in respect of the privatisation of Royal Mail.
The Government set the overall allocation policy with the aim of getting the right balance between longer-term, stable investors, retail investors arid shorter-term investors who provide liquidity in the market.
Allocations were made to a number of institutions who in the early stages of engagement were willing to place non-binding orders despite the risks attached to the IPO such as the industrial relations situation. These investors gave us confidence that there was sufficient demand to proceed with the IPO.
We had nearly three-quarters of a million retail applications so their allocations were scaled back as they were for institutional investors. Given this high demand, Ministers decided to prioritise smaller investors and put in place a cut-off above £10,000 and give everyone below that the same number of shares. Around 95% of retail investors were allocated shares.
To ask the Secretary of State for Business, Innovation and Skills pursuant to the answer of 16 December 2013, Official Report, column 415, on Royal Mail, over what time period the (a) final price achieved and (b) aftermarket performance of the shares will be assessed under the benchmarks set by...
To ask the Secretary of State for Business, Innovation and Skills pursuant to the answer of 16 December 2013, Official Report, column 415, on Royal Mail, over what time period the (a) final price achieved and (b) aftermarket performance of the shares will be assessed under the benchmarks set by...
We have not set a rigid timetable for the assessment of whether the discretionary payment should be made. As seen in recent days, there is still volatility in Royal Mail's share price.
To ask the Secretary of State for Business, Innovation and Skills what proportion of shares in Royal Mail allocated to priority investors in its recent privatisation are still held by those investors.
To ask the Secretary of State for Business, Innovation and Skills what proportion of shares in Royal Mail allocated to priority investors in its recent privatisation are still held by those investors.
As set out in the National Audit Office report, 22% of Royal Mail shares (220.5 million) were sold to priority investors. As set out in the NAO report, at the end of January, over a half of the shares remain owned by these investors. Some have sold all their shares; some sold part of their shareholding; and others have acquired more shares.
To ask the Secretary of State for Business, Innovation and Skills what process the Government adopted to (a) identify and (b) select priority investors in the recent Royal Mail privatisation.
To ask the Secretary of State for Business, Innovation and Skills what process the Government adopted to (a) identify and (b) select priority investors in the recent Royal Mail privatisation.
The process of investor engagement commenced 12 months prior to the Initial Public Offering (IPO), in the initial period, Royal Mail's management met with over 60 high quality institutions to educate them about the business. During pilot fishing in early September 2013, the management team and the
Government's banking advisers engaged further with a focused group of 21 well-informed and longer-term investors. Initial indications of potential demand were received from this group; this gave the Government the confidence to proceed with announcing the intention to float on 12 September 2013.
To ask the Secretary of State for Business, Innovation and Skills for what reasons details of arrangements with priority investors in respect of the privatisation of Royal Mail were not published at the time of that privatisation.
To ask the Secretary of State for Business, Innovation and Skills for what reasons details of arrangements with priority investors in respect of the privatisation of Royal Mail were not published at the time of that privatisation.
The Government did not enter into any direct arrangements with investors. All institutional investors entered into agreements with the underwriting banks (the syndicate) to purchase their allocated shares at the offer price. This is standard practice and applied to all investors.
Details of individual allocations were not disclosed because all investors in Royal Mail—whether individuals or institutions—have a legitimate expectation of privacy.
To ask the Secretary of State for Business, Innovation and Skills what the names are of (a) the 16 priority investors selected and (b) the 21 priority investors under initial consideration by the Government in the privatisation of Royal Mail.
To ask the Secretary of State for Business, Innovation and Skills what the names are of (a) the 16 priority investors selected and (b) the 21 priority investors under initial consideration by the Government in the privatisation of Royal Mail.
All investors in Royal Mail, whether individuals or institutions, have a legitimate expectation of privacy. It would not be appropriate to disclose the list of institutions that were allocated shares in the Initial Public Offering (IPO) or the names of investors that participated in the investor engagement prior to the IPO.
To ask the Secretary of State for Business, Innovation and Skills what (a) discussions and (b) correspondence has taken place between (i) his Department, (ii) Royal Mail, (iii) banks acting as bookrunners, co-ordinators and lead managers and (iv) priority investors since the privatisation of Royal Mail took place; and if...
To ask the Secretary of State for Business, Innovation and Skills what (a) discussions and (b) correspondence has taken place between (i) his Department, (ii) Royal Mail, (iii) banks acting as bookrunners, co-ordinators and lead managers and (iv) priority investors since the privatisation of Royal Mail took place; and if...
Since the Initial Public Offering, my Department has had discussions with Royal Mail in our continuing role as a minority shareholder in Royal Mail.
There has been ad hoc contact with the Global Co-ordinators primarily to help with inquiries about the IPO but no formal correspondence.
It is not appropriate to publish correspondence relating to the above on the grounds that it relates to our shareholding or has been provided to help develop Government policy and to do so would inhibit the free and frank advice or exchange of views for the purposes of internal deliberation.
This Department has not had discussions or corresponded with the priority investors.
To ask the Secretary of State for Business, Innovation and Skills what (a) verbal and (b) contractual agreement was made with priority investors in relation to their shareholders during the privatisation of Royal Mail.
To ask the Secretary of State for Business, Innovation and Skills what (a) verbal and (b) contractual agreement was made with priority investors in relation to their shareholders during the privatisation of Royal Mail.
No verbal or contractual agreement of any description—including future intentions for shareholdings—was made between the Government and any investor in the Royal Mail Initial Public Offering (IPO). Any suggestion that there was a “gentleman's agreement” is false.
To ask the Secretary of State for Business, Innovation and Skills what involvement (a) the bank acting as financial adviser to the Government and (b) banks acting as bookrunners, co-ordinators and lead managers had in discussions with priority investors on the privatisation of Royal Mail.
To ask the Secretary of State for Business, Innovation and Skills what involvement (a) the bank acting as financial adviser to the Government and (b) banks acting as bookrunners, co-ordinators and lead managers had in discussions with priority investors on the privatisation of Royal Mail.
Together with Royal Mail's management team, the Government's independent financial adviser (Lazard) and members of the banking syndicate met with the priority investors throughout the investor engagement process. The banking advisers also met with over 500 institutional investors. The purpose of this engagement was to educate investors about the business and secure indications of potential demand and valuation.
To ask the Secretary of State for Business, Innovation and Skills pursuant to question 171111, how many shares in the Royal Mail are being sold to (a) foreign and (b) domestic shareholders; and how many shares were purchased in each region.
To ask the Secretary of State for Business, Innovation and Skills pursuant to question 171111, how many shares in the Royal Mail are being sold to (a) foreign and (b) domestic shareholders; and how many shares were purchased in each region.
Of the base offer sold by Government on 11 October 2013, 67% of shares were allocated to institutional investors and 33% to individuals located in the UK through the retail offer. When allocating shares for institutional investors, we prioritised long-term, stable investors with 63% of the institutional tranche going to British-based institutions. We do not hold a regional break down.
Royal Mail is now listed on the London stock exchange with owners free to trade their shares. The maintenance of the Royal Mail plc share register is a matter for the company.
To ask the Secretary of State for Business, Innovation and Skills pursuant to the answer of 21 October 2013, Official Report, column 49W, on Royal Mail, what funds were held on the Government's behalf from applicants in the direct retail offer.
To ask the Secretary of State for Business, Innovation and Skills pursuant to the answer of 21 October 2013, Official Report, column 49W, on Royal Mail, what funds were held on the Government's behalf from applicants in the direct retail offer.
Approximately £1.4 billion from applicants in the direct retail offer were held on Government's behalf.
To ask the Secretary of State for Business, Innovation and Skills pursuant to the answer of 18 October 2013, Official Report, column 876W, on Royal Mail, what total amount of interest is being retained by the Government; and whether such interest will be retained in a separate account or the...
To ask the Secretary of State for Business, Innovation and Skills pursuant to the answer of 18 October 2013, Official Report, column 876W, on Royal Mail, what total amount of interest is being retained by the Government; and whether such interest will be retained in a separate account or the...
The interest accrued by 21 October 2013 was approximately £78,000. This will be paid into the Consolidated Fund. The retention of interest accrued on retail applications is in line with that taken in privatisations under previous governments.
To ask the Secretary of State for Business, Innovation and Skills how many expressions of interest were made in the share offer for the sale of Royal Mail, by constituency.
To ask the Secretary of State for Business, Innovation and Skills how many expressions of interest were made in the share offer for the sale of Royal Mail, by constituency.
The Government does not hold this information.
To ask the Secretary of State for Business, Innovation and Skills what steps he is taking to refund interest lost to retail investors who applied for but did not receive Royal Mail shares.
To ask the Secretary of State for Business, Innovation and Skills what steps he is taking to refund interest lost to retail investors who applied for but did not receive Royal Mail shares.
The position on the refund of application monies was set out in the terms and conditions of the Direct Retail Offer (included in the prospectus and provided with the summary prospectus). As set out in the terms and conditions of the Direct Retail Offer, refunds will be made without interest.
To ask the Secretary of State for Business, Innovation and Skills what information has been supplied by the Government following the allocation of shares to those who applied for shares in Royal Mail (a) online and (b) by post.
To ask the Secretary of State for Business, Innovation and Skills what information has been supplied by the Government following the allocation of shares to those who applied for shares in Royal Mail (a) online and (b) by post.
The expected timetable for providing information to applicants in the direct retail offer was set out in the Prospectus. Share Account Statements in respect of ordinary shares were emailed by the Government's Receiving Agent on 15 October to those who submitted an online application and elected to receive their statement this way. Share Account Statements and Share Certificates were posted by the Government's Receiving Agent on 17 October to those who applied by post, or applied online and requested a share certificate. The share allocation policy is also available on the dedicated share offer website:
www.gov.uk/royalmailshares