WARNING: WASHINGTON SECURITIES PTY LTD
An Australian company, Washington Securities Pty Ltd, has been referred to frequently this year regarding their low-ball offers for New Zealand listed shares and bonds.
Please exercise caution regarding any unsolicited offer made to you to buy your shares and/or bonds and speak to an industry professional if you have any doubts.
If you receive an offer from Washington Securities Pty Ltd we strongly recommend that you reject their low-ball offer.
If you have a small holding and are considering accepting their offer out of convenience please feel free to contact us to discuss.
If you have accepted any of their offers unwittingly the Securities Markets (Unsolicited Offers) Regulations 2012 give shareholders the right to cancel any acceptance of their offer up to 10 working days after the date of acceptance.
It remains very disappointing that these disgraceful practices are still permitted by law despite heavy criticism by the share broking community.
David Colman
Chris Lee and Partners
