Other highlights included:
- HM Government intends to dispose of a majority of the existing Shares, taking into account Shares sold in the Offer and the 10 per cent. of Royal Mail to be made available for free to around 150,000 eligible UK-based Royal Mail employees at or around the time of Admission under an employee free Shares offer (the "Employee Free Shares Offer"), which is separate and in addition to the Employee Priority Offer referred to below.
- The Offer consists solely of existing Shares being sold by HM Government.
- The Offer comprises between 401 million Shares and 522 million Shares, representing between 40.1 per cent. and 52.2 per cent. of Royal Mail's share capital on Admission, excluding Over-allotment Arrangements (the "Base Offer").
- Shares representing up to 15 per cent. of the Base Offer are also being made available pursuant to Over-allotment Arrangements.
- Following the Offer, HM Government's holding in Royal Mail is expected to be between approximately 37.8 per cent. and 49.9 per cent. assuming no exercise of the Over-allotment Option and between approximately 30.0 per cent. and 43.9 per cent. assuming exercise in full of the Over-allotment Option.
- Institutional Offer bookbuilding commences today, and is expected to close on 8 October 2013.
- The Retail Offer opens later today. Individuals can apply in the Retail Offer through participating Intermediaries, or direct to HM Government online (at www.gov.uk/royalmailshares) or by post. The last date for the receipt of applications by Intermediaries and by HM Government's receiving agent is 8 October 2013.
- Pricing and allocations are expected to be announced and conditional dealings in the Shares on the London Stock Exchange are expected to commence on 11 October 2013.
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