AMP Ltd is warning New Zealand shareholders not to accept unsolicited offers to buy their shares at prices significantly below their current market value.
Some AMP shareholders have recently received such offers through letters from a group called Share Buyers Pty Ltd.
In a letter, provided to the Otago Daily Times, Share Buyers offered to buy the 400 AMP shares owned by a Dunedin investor for $A916 ($NZ1117), despite the market value of the shares being $A2140.
Share Buyers were offering $A2.29 a share when they were trading at $A5.35.
AMP's external relations manager Veronica Ruddenklau said AMP was in no way associated with the offer and she urged shareholders not to accept it.
Shareholders who might be considering any offer for their AMP shares should. -
• Check the current market price of AMP shares. The price could be found in the business sector of most major daily newspapers or through the ASX on www.asx.com.au
• Carefully check the terms and conditions of the offer.
• Seek independent advice from a qualified professional adviser.
AMP would be concerned if any shareholder unintentionally accepted an offer to sell their shares for less than market value, she said.
By law, anyone may get shareholder details from a publicly listed company. The company had no legal means by which to refuse the request for such details.
