Telstra warns of unsolicited share offers

Telstra warns of unsolicited share offers

Telstra (ASX:TLS) has warned shareholders to watch out for two unsolicited offers for its shares from National Capital Corporation.

The company said it had become of two offers sent to shareholders. One of these was priced at $1.33 per share, well below Telstra's current market value of $2.640 per share.

The other, for $3.01 per share, offers payment of just 10% within 14 days, with the rest to be delivered within 26 weeks.

“These offers have no association with Telstra and any shareholder who receives an offer should not accept it without seeking independent financial advice on it and all of its terms,” Telstra company secretary Carmel Mulhern said.

Telstra said it had advised the Australian Securities & Investments Commission (ASIC) of the unsolicited offers.

Telstra's own investigation has revealed that National Capital was incorporated on 22 October, and that its sole director is the 22-year-old Ben Hirvi. He is also the only shareholder of National Capital's 100 shares issued at $1.

Hirvi purchased a copy of Telstra's share registry last month, through another company in which he is the only director.

TLS shares gained 0.38% during Thursday's trading.

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Tags ASIC ASX:TLS telecommunications Telstra

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