Beware Letters Offering To Buy Your Shares
I received a letter in the mail today offering to buy some shares from me.
These sort of letters have been around a long time.
They usually offer to buy your shares at around half the price of the marketvalue.
It’s worded so its legal.
If you are thinking of selling, first check the current price on the stock exchange. To do this type in the Share Code, (it will be on the letter) in the Get Price box on the right hand side of this page ttp://www.asx.com.au/professionals/market_information/index.htm and it will show how much you can sell it for, per share, on the stock market.
As the letter says whether you sell or buy you should seek financial advice. This is not financial advice, just a warning.
You can sell shares yourself online buy using sites like http://www.commsec.com.au. After you have opened an account you mat be able to just use your SRN number from your share dividend advice (its the long number after the letters SRN) to sell the shares.
Unfortunately it is probably unsuspecting people who could really do with the extra money that decide to act on these letters and they are the ones whose lives could really do with the possible extra 40% or so they could receive selling it themselves online or through a standard broker.
As the letter says seek financial advice.
Regards,
Glenn Wallace
Chartered Accountant, CPA, Registered Tax Agent
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