I AM UTTERLY LIVID OVER THE ROYAL MAIL IPO SHARE SALE - WHY - READ ON! On application it asked how much would I like to apply for in POUNDS STERLING (not the number of shares as this price per share was yet to be revealed - although in my perception they already knew). So I duly sent off a sum of money in POUNDS STERLING via direct transfer on the website. (Trust me I checked that is was the real website first). I then received an e-mail with a 9 DIGIT application number and confirming how much had been taken from my bank account. (I of course checked my bank account to ensure the sum was correct - it was). Also I contacted the HELPDESK and I was informed by an operative that my share application was successful but they could not tell me to what amount. AFTER WHICH I RECEIVED A SECOND E-MAIL non applicant specific - explaining that 227 shares had been allocated to all that were successful to a value of £749.10. This meant that ROYAL MAIL would keep a significant amount of my money - the balance between the allocated sum and the sum I applied for (which they took from my account and not the £749.10) - apparently I will not get the balance back before 21-10-2013. So effectively they have my money interest free for a period. As they MUST HAVE KNOWN HOW MANY SHARES THEY WOULD ALLOCATE each successful applicant AND WHAT PRICE THEY WOULD PUT ON EACH SHARE (trust me you have to plan these things) a good time prior to the applications being open - then NOT INFORMING THE APPLICANT OF THE TRUE SUM REQUIRED TO BE TRANSFERRED FROM THEIR BANK ACCOUNT RAISES SOME SERIOUS QUESTIONS. It is either PISS POOR PLANNING or an ATTEMPT TO USE MILLIONS of pounds of applicants money interest free for 12-13 days. WORSE STILL I WAS PROMISED THAT I WOULD RECEIVE AN E-MAIL on the 15th October WHEN THE SHARE LISTING WENT LIVE - with the necessary details of my personal allocation - CODES FOR SHARE DEALING TRANSACTIONS ETC. Despite several telephone calls to the help desk - no such e-mails have arrived! LET ME EXPLAIN THIS - I should now be able to trade my shares but I CANNOT because they did not send the information as promised by the helpdesk (recorded). However the shares were already PROVISIONALLY TRADED BY INSTITUTIONS DAYS BEFORE THEM GOING LIVE FOR THE GENERAL PUBLIC (me) which of course puts us at the end of the queue. THIS IS UTTERLY UNACCEPTABLE and if you want to get CAPITALISM A BAD NAME THIS IS THE RIGHT WAY TO GO ABOUT IT - INCOMPETENT! A share owning humane capitalist society would be a good one with everyone having some stake in it - BUT THE RULES MUST BE THE SAME FOR EVERYONE. Incompetence and greed working together is A TOXIC MIX! Finally I acquired the telephone number of the brokers EQUINITI (0845 2688405 - automated) not from any e-mail or Royal Mail (which I have not received) but from another source. However I still cannot transact because they require the 11 digit code which I should have received by now. I do have their e-mail address however and they have most certainly just received on from me - I shall endeavor to get a telephone number for them somewhere. The sun is shining the birds are twittering and the sky a clear azure blue...our true wealth!
Posted on: Wed, 16 Oct 2013 09:16:39 +0000
Trending Topics
Recently Viewed Topics
© 2015