Warning: Unsolicited offer for DNZ Property Fund Limited shares

Wednesday 11 August 2010, 10:22AM
By Securities Commission

Shareholders in DNZ Property Fund Limited should be wary of an offer by Carrington Securities LP to buy their shares for $0.60 per share.

The Securities Commission reminds investors to be cautious of any unsolicited offer to purchase their investments and urges investors to seek professional advice before making any decision to accept the offer.

As the shares are not currently trading on any organised market, there is no market price against which investors can assess the offer and accordingly, it is very difficult to accurately assess the value of the company's shares. Shareholders should consider, together with other relevant factors, the indicative price range of $0.80 to $1.05 per shares which is set out in DNZ Property Fund Limited's prospectus.

Under securities legislation it is not illegal to offer to buy securities below their face value. Any offer to buy securities from investors must not be misleading or deceptive.

The general partner of Carrington Securities LP is Mr Bernard Whimp.