AMP warns shareholders to avoid below market offers

What to do if I'm contacted by Share Buyers Pty Ltd
Download and read the full press statement from AMP
Who should I contact if I still have concerns?

AMP Limited has today urged its New Zealand retail shareholders not to accept unsolicited offers to buy their shares at prices significantly below their current market value.

Some AMP shareholders have recently received such offers through letters from a group called Share Buyers Pty Ltd.

Share Buyers is currently offering some shareholders A$2.29 per share. This equates to NZ$2.69 in today’s money and is significantly lower than AMP’s closing share price of NZ$6.61 on 27 July 2010.

AMP‘s External Relations Manager, Veronica Ruddenklau said, “AMP is in no way involved or associated with this offer by Share Buyers. We strongly suggest shareholders not accept this offer as it is significantly below the market value of the shares.”

What should I do if I have been contacted by Share Buyers Pty Ltd

Shareholders who might be considering any offer for their AMP shares should:

check the current market price of AMP’s shares – this can be found in the business section of most major daily newspapers or via the Australian stock exchange (www.asx.com.au)
carefully check the terms and conditions of the offer
seek independent advice from a qualified professional adviser.

“It would be of concern if any AMP shareholder unintentionally accepted an offer to sell their shares for less than their market value” Ms Ruddenklau said.

By law, anyone can request shareholder details from a publicly listed company. The company has no legal means by which to refuse the request for the details, which include shareholders' names and addresses.