Sharechat Logo

Securities Commission warning on St Laurence offer

Thursday 6th May 2010

Text too small?

The Securities Commission is warning St Laurence Finance Limited debenture-holders to be "wary" of an unsolicited offer from a bottom-feeder Australian investor, Stock and Share Trading Company Pty Limited.

The SSTC offer is pitched at 8 cents in the dollar and follows St Laurence's receivership, announced last week.

"Such an offer does not mean that 8 cents in the dollar is the true value of the securities," said commission chair Jane Diplock. "Offers sometimes try to exploit doubts about the value of debentures, so it's important that investors get advice from a reputable financial adviser before coming to a decision.

"It is very difficult to accurately assess the value of a finance company's debetures when it is in moratorium or receivership," she said. "As these debentures are not trading on any organised market there is no market price for investors to compare the offer against."

 

 

Businesswire.co.nz



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

VCT - Operational performance for the year ended 30 June 2024
Challenge to banks the way to go
Bigger returns or lower risk?
NPH - Director Appointment
July 19th Morning Report
Wellington International Airport Ltd (“WIA040”) - Maturity
Devon Funds Morning Note - 18 July 2024
CNU - Commerce Commission releases draft Price Quality decision
Precinct FY24 Annual Results and Webcast Details
Scott Technology appoints new CEO