Warning to shareholders
Over the last year many companies have become aware that their shareholders have received unsolicited phone calls or correspondence concerning investment matters . These are typically from overseas based 'brokers' who target UK shareholders offering to sell them what often turn out to be worthless or high risk shares in US or UK investments. They can be very persistent and extremely persuasive and a 2006 survey by the Financial Services Authority (FSA) has reported that the average amount lost by investors is around £20,000. It is not just the novice investor that has been duped in this way; many of the victims had been successfully investing for several years. Shareholders are advised to be very wary of any unsolicited advice, offers to buy shares at a discount or offers of free reports into the company.
If you receive any unsolicited investment advice:
- Make sure you get the correct name of the person and organisation.
- Check that they are properly authorised by the FSA before getting involved. You can check at www.fsa.gov.uk/Pages/register.
- The FSA also maintains on its website a list of unauthorised overseas firms who are targeting, or have targeted, UK investors and any approach from such organisations should be reported to the FSA so that this list can be kept up to date and any other appropriate action can be considered. If you deal with an unauthorised firm, you would not be eligible to receive payment under the Financial Services Compensation Scheme. The FSA can be contacted by completing an online form at www.fsa.gov.uk/pages/doing/regulated/law/alerts/overseas.shtml.
- Inform Shareholder Information Group on 0871 664 0300 (calls cost 10p per minute, plus network extras) or +44 (0)20 8639 3399 if calling from outside the UK. Lines are open Monday – Friday, 8:30am – 5.30pm. Alternatively email email@example.com.
Details of any sharedealing facilities that the company endorses will be included in company mailings.
More detailed information on this or similar activity can be found on the FSA website www.fsa.gov.uk/consumer.
Warning - Redstone plc shareholders are currently being targeted with a Boiler Room Scam – click here for more information.
If you are unable to find the information that you require please contact Redstone's financial public relations team at Newgate Threadneedle, on 020 7653 9850 or email firstname.lastname@example.org. Please be aware that Newgate Threadneedle and Redstone plc are not able to give investment advice of any kind. Any enquiries of this nature should be made to an FSA regulated stock broker or financial advisor.