Free shares bonanza for postal workers

Hundreds of postal workers in Doncaster are to be given free shares when the Royal Mail is privatised, it has been confirmed.

Almost 1,500 eligible Royal Mail employees in the DN postcode area are set to receive shares in the business after the Government announced a flotation on the London Stock Exchange this financial year, which will give 10 per cent of all the shares in the business to eligible workers.

They will include people at Doncaster sorting office, as well as employees working in Parcelforce Worldwide.

There will be a pro-rata allocation for part-timers.

This is the first major UK privatisation where all the shares for employees will be given to them on a free basis.

The Government also announced that, alongside an offer to institutional investors, there will be a retail offer to allow customers to own a stake in Royal Mail.

Doug Neal, delivery director, said: “I’m very proud that I will be one of the owners of Royal Mail following a successful flotation on the stock exchange, along with my other colleagues working in Doncaster.”