Forum Archive Index - May 2003

["tennyson@caverock.net.nz" <tennyson@caverock.net.nz>]

As an (albeit still very small) shareholder in 'Onesteel', I was very 
annoyed at management time being put into fending off an unsolicited 
share offer quote:

"at prices reported to be substantially less than prevailing market prices"

I notice that the Australian government is putting meaures in place to 
stop predators preying on unsophisticated shareholders in this way.

http://parlsec.treasurer.gov.au/parlsec/content/pressreleases/2003/016.
asp

I quote:
"Under the new regulations, he will no longer be able to simply offer to 
buy someone's shares at a certain price without stating the market value 
of those shares on the day the offer was made."

However, in New Zealand there exist similar predators, and I am 
thinking specifically of Ross Investments,  who seem to think it is 
acceptable to carry out similar scams on the unsophisticated investing 
public.  Anyone else annoyed about this practice?    What do you 
suggest we can do about it?

SNOOPY



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