Ennstone warn of possible share scam

ENNSTONE shareholders are being urged to exercise caution after the company said it had recently become aware of what may be a fraudulent share scheme.

Vaughan McLeod, the chairman of Ennstone plc, has written to all shareholders to warn that certain shareholders are being targeted by an overseas party claiming to be a US broker, acting on behalf of private individuals looking to build a substantial stake in the company.

These individuals are apparently claiming that they are prepared to pay a substantial premium to the current share price (up to £4.00 per share) but that in advance they would require payment of a ‘small insurance bond premium’. The callers are also warning shareholders not to inform anybody of their calls as they do not want the company to find out about the approach.

Following discussions with the authorities and having taken legal advice, Ennstone said they had concluded that it would be in the best interests of their shareholders to inform them in writing of the situation.

In his letter, which was posted earlier this week along with the company’s annual report and accounts, Mr McLeod expresses concern that this may not be a genuine approach and urges shareholders to exercise caution, particularly in relation to any requests for payment or costs to be incurred by shareholders.

The letter advises shareholders with any questions or concerns to contact their own professional adviser or to call Ennstone on tel: (01332) 694444. A notice has also been posted on the Ennstone website to provide information on any further developments.