Please find below details of recent evidence of 'boiler room scams', guidance on what to do if you have received a call and advice on how to avoid unsolicited calls in the future.
We are legally obliged to make our share register available to the general public. Consequently some shareholders may receive unsolicited mail, including correspondence from unauthorised investment companies.
We have been advised by shareholders, on several occasions in recent weeks, that they have received telephone calls or written communications which appear to originate from one or more of the following sources:
- Overseas addresses;
- Phone or written correspondence by companies offering to buy their shares at varying inflated prices;
- Offering to acquire shares at a premium for an unidentified buyer;
- Telling the shareholder that a ‘non-disclosure’ arrangement would be required;
- Requesting an up-front payment for a ‘bond’ as security.
The nature of these communications is not clear however they are likely to be some form of fraud such as a ‘boiler room scam’.
Share scams are often run from ‘boiler rooms’ where fraudsters cold-call potential or existing investors offering them worthless, overpriced or even non-existent shares, or offering to buy shares at a premium while they promise high returns, those who invest usually end up losing their money.
Share fraud usually comes out of the blue, with scammers cold-calling investors after taking their phone number from publicly available telephone lists. The high-pressure sales tactics can also come by email, post, word of mouth or at a seminar. These scams are sometimes advertised in newspapers, magazines or online as genuine investment opportunities. You will often be told that you need to make a quick decision or miss out on the deal.
Please note that Henry Boot PLC (‘the Company’) would never make unsolicited calls to shareholders.
As is often said, if the offer sounds too good to be true, it probably is! Don’t be pressured into making a quick decision.
Take care and treat any calls or mail with suspicion; even professional looking websites can be easily created.
We advise our shareholders to be extremely wary of such calls and correspondence. You should make sure that you only deal with the Company itself or financial services firms that are authorised by the UK Financial Conduct Authority (‘FCA’). The FCA keeps a register of authorised firms.
If you are concerned, you can report scam calls to the FCA at www.fca.org.uk or by calling 0800 111 6768.
Alternatively, if you have any questions, you can also email the Company at firstname.lastname@example.org or contact Group Company Secretariat on 0114 255 5444.
- Protect yourself and check out any investment thoroughly. You can find out more information about boiler room scams on the FCA website https://www.fca.org.uk/scamsmart/share-bond-boiler-room-scams. You can also check if the firm is authorised to do business by the FCA. If you deal with an unauthorised firm, you would not be eligible to receive payment under the Financial Services Compensation Scheme.
- You should be aware that if you hold a share certificate, your name and address details are shown on the public register and this is one of the ways that boiler room operators can obtain your details.
- You can protect your privacy by considering moving your shares into a nominee account.