Business
Advice to Shareholders
Advice to Shareholders.
About this update from Eleco Plc
[{"type":"text","content":"\n Eleco PLC\n23 August 2007\n\n\n ELECO PLC\n\n Advice to shareholders\n\nDear Shareholder,\n\nWe have recently been informed by some Eleco shareholders that they have been\ntargeted by individuals acting on behalf of a purported Canadian company\nclaiming to act for a potential acquirer who is offering to pay prices\nsignificantly in excess of the prevailing stock market price, with a view to\nacquiring 51 per cent. of Eleco's shares. There are good grounds to suspect that\nthis claim and other statements that have been made regarding levels of interest\nreceived from other shareholders may not be genuine and appear to be aimed at\npersuading shareholders to deliver their share certificates and or bank details\nto those making the calls.\n\nWe advise any of our shareholders receiving calls of this nature to exercise\nextreme caution. According to those shareholders who have brought the telephone\ncontacts received by them to the attention of the Company, the callers are very\npersistent and extremely persuasive in trying to convince shareholders that a\nbidder is stake building and that any intended offer made subsequently would be\nunrealistically in excess of the Company's current share price and would be\njustified by the bidder's intention to reach a majority shareholding.\n\nIf you receive any unsolicited investment advice regarding the possible sale of\nyour Eleco shares as a consequence of such calls, we suggest you:\n\n- obtain the correct name of the person and organisation;\n\n- check at www.fsa.gov.uk/register that they are properly authorised by the FSA\n before getting involved further or at all;\n\n- check the FSA website for a list of unauthorised overseas firms who are\n targeting, or have targeted, UK investors at http://www.fsa.gov.uk/pages/\n doing/regulated/law/alerts/overseas.shtml;\n\n- inform us of such circumstances by emailing our Company Secretary at\n ivor.barton @eleco.com\n\n\nAny approach from such organisations should be reported to the FSA to enable\nthem to update their records and consider any other appropriate action. More\ninformation on this and similar activities can be found on the FSA website at\nwww.fsa.gov.uk/consumer\n\n\nWe wish to stress that this incident has had no impact whatsoever on our trading\nand there is no reason why it should do so. Enclosed is an appendix containing\nthe...