4 October 2011
We have been alerted by some of our shareholders to cold calls which they have received over recent weeks. The callers purport to represent various entities, in particular Drexel-Bearns, a US based firm. The callers state that they are seeking to gain control of investors shareholdings held in the Company and/or personal financial information. We believe these are boiler room scams.
These types of calls are typically from overseas based ‘brokers’ who target UK shareholders. These operations are commonly known as ‘boiler rooms’. These ‘brokers’ can be very persistent and extremely persuasive. Shareholders are advised to be very wary of any unsolicited advice, offers to buy shares at a discount or offers of free company reports. If you receive any unsolicited investment advice:
In the event that you receive such a call we strongly recommend that you consult your stockbroker, bank manager, solicitor, accountant or other professional adviser authorised under the Financial Services and Markets Act 2000 as soon as possible. Please report such activity to the Financial Services Authority by visiting their website and using the online unauthorised firms reporting form.