amp at $9.99 !!! sell time ?, page-38

re: offer to buy at $7.50 Yes I received the same letter from "National Exchange Proprietory Ltd" to buy my AMP shares for $7.50. Beware of offers from these people, they offer to buy shares from "mum & dad" shareholders for a price that is up to 25% to 30% less than the market price at the time.
They did the same thing for AXA Asia Pacific shares in October 2002 offering to buy your shares for $1.50 when AXA shares were around the $2.30 to $2.60 range. I was quite surprised to see how many people took up this rediculous offer.
There should be a law about these people praying on the "mum & dad" shreaholders.

Below is a link from "FIDO News - Issue 31, 23 January 2003" a publication emailed out by the "FIDO - Australian Securities & Investments Commission's financial tips & safety checks"

http://fido.asic.gov.au/fido/fido.nsf/byheadline/Pitfalls+with+unexpected+offers+to+buy+your+shares?openDocument

I suggest to people that this is quite a good site to log onto & get they regular emails.

Log onto the ASIC's consumer website at www.fido.asic.gov.au

As pointed out by this article this is legal, but I think it is quite immoral.

Pitfalls with unexpected offers to buy your shares

elow are some quotes from the article:-

"Have you received an unexpected letter offering to buy some of your shares? The Australian Securities and Investments Commission (ASIC) today alerted investors to some pitfalls they may face when considering such an offer.

Some Australian companies offer to buy shares from small shareholders in public companies by issuing hundreds, and sometimes thousands, of unsolicited offers by mail.

'Often these unsolicited offers come at a price below the current market price. While that may be legal, it's well worth checking the real value of your shares, the cost of selling on the market, and whether it's wise to sell or hold on' said Mr Peter Kell, ASIC's Executive Director, Consumer Protection. "

"The Parliamentary Secretary to the Treasurer, Senator Ian Campbell said ... the Government would tighten the law to prevent 'bottom-feeder' share dealers from preying on ill-informed small shareholders. He said he planned to introduce legislation making it compulsory for any dealer offering to buy shares to state the current market value of those shares..."

So please be careful about these offers!!!!!!!!!!!!