I don't understand - why would anyone accept such an offer? I mean, I guess they're targetting people who aren't that well-informed, but even so, it's not like a quick cash offer or anything that would tempt someone who's desperate.
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This has already been quite well mentioned/discussed on the forum, I believe someone worked it out to be $1.07 in "today's" prices... they are hoping several hundred uninformed heartland shareholders who may only hold a couple hundred or couple thousand shares will sell and thing "gee I thought they were 90 cents, $1.40 sounds great!!!" Not sure how many small shareholders will fall for it, especially with the 10 year installments and the fact you won't get any dividends... and we're at $1.40 right now! :t_up: (if you include next 2 dividend payment estimates which I think will amount to around 9 cents)
Ah but what a cunning plan! We give them our shares and they pay you back with the dividends you would have received.
I know there are some realllly stupid and gullible people around, but surely even the most gullible person would check the current market price before selling anything? The only thing I can think of is that they're hoping people will miss the 10-year thing - I didn't receive the offer, was it in small print or something?
https://www.nzx.com/companies/HBL/announcements/283700
More information for those who are interested
I like the idea that was thrown around last time there was a low ball offer like this - everybody takes the postage paid envelope and fills it with newspaper, completely unrelated paperwork or pictures of cats etc and sends it back. That way they end up with a very large postage bill and a lot of time wasted sorting these letters, hopefully convincing them not to bother doing it again. Or better yet, fill the form out with completely wrong details sending them on a completely unproductive wild goose chase.
Agree on that strategy NB. Sadly there are some SH that fall for these scams and these guys have been making millions by running them. It is a shame it can not be stopped somehow but so fa publicly shaming them and responding to them with rubbish to increase their work and costs, is all we can do.
Hi guys, is anyone an interest.co.nz member and has access to this subscriber-only article they could share on the web somehow? Thanks!
http://www.interest.co.nz/business/8...d-says-reverse
I got the offer letter the other day. The information is clearly stated in the letter, so it doesn't seem like a scam. I honestly don't know why anyone would accept the offer though, it clearly states the difference between the offer price and market price (at time of printing), and the fact that it will be paid over 10 years. It's a cheeky offer, but there's nothing deceptive about it. Possibly it's a very basic intelligence test, and those that accept it fail?