Warning to Shareholders

RNS Number : 6901A

Alkane Energy PLC

05 August 2008

 

Alkane Energy plc

5 August 2008

Warning to shareholders

Alkane Energy plc reports that it has become aware that shareholders have recently received unsolicited phone calls and correspondence claiming to be from or on behalf of the Company and regarding trading in the Company's shares and in shares in other companies. The Company wishes to warn shareholders that it has not made or authorised any such unsolicited phone calls or correspondence to its shareholders and recommends shareholders take no action other than to report any suspicions to the FSA as outlined below.

The FSA has issued the following guidance:

'WARNING TO SHAREHOLDERS - BOILER ROOM SCAMS

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 UK shareholders, offering to sell them what often turn out to be worthless or high risk shares in US or UK investments. These operations are commonly known as 'boiler rooms'. These 'brokers' can be very persistent and extremely persuasive, and a 2006 survey by the Financial Services Authority (FSA) has reported that the average amount lost by investors is around £20,000. 

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 any unsolicited investment advice: 

• Make sure you get the correct name of the person and organisation

• Check that they are properly authorised by the FSA before getting involved by visiting www.fsa.gov.uk/register

• Report the matter to the FSA either by calling 0845 606 1234 or visiting www.moneymadeclear.fsa.gov.uk

• If the calls persist, hang up.

If you deal with an unauthorised firm, you will not be eligible to receive payment under the Financial Services Compensation Scheme. The FSA can be contacted by completing an online form at www.fsa.gov.uk/pages/doing/regulated/law/alerts/overseas.shtml  '

Contacts:

Alkane Energy plc 01623 827 922

Steve Goalby

Brewin Dolphin Investment Banking 0845 270 8610

Andrew Emmott

ENDS

 

END

 

 

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