DNZ Property Fund Ltd is warning its shareholders against an unsolicited offer for their shares from Carrington Securities LP.Carrington has sent an unsolicited letter to shareholders making an offer to buy their shares at 60 cents per share. This is subs
DNZ Property Fund Ltd is warning its shareholders against an unsolicited offer for their shares from Carrington Securities LP.
Carrington has sent an unsolicited letter to shareholders making an offer to buy their shares at 60 cents per share. This is substantially below the last traded price of the shares on the unlisted market of 90 cents.
"The board is concerned that the letter from Carrington Securities LP may be confusing to some investors, however under securities legislation it is not illegal to offer to buy shares below their market value," the company said.
Carrington Securities was formed by Bernard Terence Whimp of Christchurch. Mr Whimp was banned as a company director for four years in 2006.
The board recommends that shareholders be wary of this offer and should seek professional advice before making any decision.
