A slightly cheeky offer in the mail has arrived for some SCT shareholders.
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UNSOLICITED OFFER BY ZERO COMMISSION NZ LIMITED
It has been brought to our attention that a company called Zero Commission NZ Ltd has written to
Scott Technology Limited (“Scott”) shareholders who hold less than approximately 1,300 shares in
Scott with a conditional offer to buy their Scott shares for $1.50 per share.
The Scott Board does not endorse this offer.
Zero Commission NZ Ltd made a request to be provided with a copy of Scott’s share register in
accordance with the Companies Act 1993 and this was provided to them, as we are required to do by
law.
The last share trade on 17 February 2012 was at a price of $1.66 per share.
We recommend that shareholders seek independent financial or legal advice if they are uncertain
about this matter or are contemplating selling their Scott shares. Shareholders are under no
obligation to accept the offer or to take any action in respect of it.
Scott is listed on the NZSX (code SCT) and shareholders are able to trade their shares through this.
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"Zero Commission NZ" is a vehicle owned by long time sharemarket investor Phil Briggs. You would have to think that Briggs has done his homework. If he thinks it is a good idea to buy SCT shares, then why would it be a good idea for you to sell to him? Be careful out there fellow shareholders.
SNOOPY