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Unsolicited shareholder contact
Over the last year many companies have become aware that their shareholders have received unsolicited phone calls or correspondence concerning investment matters.
These are typically from overseas based brokers who target shareholders offering to sell them what often turn out to be worthless or high risk shares in US, UK or Australian investments. They can be very persistent and extremely persuasive and a 2006 survey by the UK Financial Services Authority (FSA) reported that the average amount lost by investors was around £20,000. Shareholders may also receive unsolicited offers to buy their shares, often at a discount to market value, or where the purchase price may be payable over many years. It is not just the novice investor that has been duped in this way; many of the victims had been successfully investing for several years. Shareholders are advised to be very wary of any unsolicited advice, offers to buy shares at a discount or offers of free company reports.
If you receive an unsolicited investment advice:
- Make sure you get the correct name of the person and organisation.
- Check that they are properly authorised by the FSA or licensed by the Australian Securities and Investment Commission (ASIC) before getting involved. You can check at www.fsa.gov.uk/register or http://www.fido.gov.au/
- Consider getting independent advice from a licensed advisor.
- The FSA and ASIC also maintain on their website a list of unauthorised firms who are targeting, or have targeted, UK and Australian investors. Any approach from such organisations should be reported to the FSA or ASIC, as appropriate, so that this list can be kept up to date and any other appropriate action can be considered.
- ASIC also regularly monitors unsolicited share offers to ensure they comply with the law and, where they do not comply, ASIC will often act to stop the offer. ASIC's website at www.asic.gov.au often contains releases in relation to unsolicited share offers.
- If you are resident in the UK and deal with an unauthorised firm, you would not be eligible to receive payment under the UK Financial Services Compensation Scheme.
Details of any share dealing facilities that Rio Tinto endorses will be included in company mailings.
More detailed information on this or similar activities can be found on the FSA's and ASIC's websites.
If you have any queries regarding your shareholding please contact the appropriate Share Registrar whose details can be found at:
Assets Reunited
Assets Reunited in conjunction with Computershare, the Companies' registrars, are performing a register cleanse on the Rio Tinto plc register. This is an exercise that many listed companies undertake to ensure unclaimed assets are returned to shareholders or the beneficiaries of deceased shareholders' estates. If you have been contacted by Assets Reunited, or have any questions about the register cleanse, please contact the Assets Reunited helpline on +44 (0)20 8778 2727 or visit the Assets Reunited website.