Warning - unsolicited offers for your Rio Tinto shares
There has recently been unsolicited contact with Rio Tinto shareholders.
Warning to shareholders - boiler room scams
Over the last year, many companies have become aware that their shareholders have received unsolicited phone calls or correspondence concerning investment matters. These are typically from overseas based ‘brokers’ who target UK shareholders, offering to sell them what often turn out to be worthless or high risk shares in US or UK investments. These operations are commonly known as ‘boiler rooms’. These ‘brokers’ can be very persistent and extremely persuasive, and a 2006 survey by the Financial Services Authority (FSA) has reported that the average amount lost by investors is around £20,000.
More information on boiler room scams
Unsolicited offers to buy your Rio Tinto Limited shares
A company called 'Australian Share Purchasing Corporation Pty Ltd' has written to some shareholders offering to purchase their shares in Rio Tinto Limited. Australian Share Purchasing Corporation is a company of which David Tweed is the sole director. Mr Tweed is frequently mentioned in the media for making offers to the holders of small parcels of shares in listed companies at prices which are significantly below current market value. Mr Tweed takes advantage of the fact that companies are required to provide a copy of their share register to any person who makes a request in accordance with the Australian Corporations Act.
