Tweed's Colonial targets Axa investors 5 Nov 2007, The Australian - Colonial Capital Corp, an Australian firm previously known for its "low-ball" offers to shareholders, has targeted Axa Asia Pacific Holdings. Axa said shareholders had received letters from CCC offering to purchase their shares at NZ$12.00 (A$9.97) per share. It said payment would be spread over 15 years, at annual instalments of NZ$0.80 a share. The current share price for Axa is NZ$9.58.

David Tweed, a director of Colonial Capital, has been criticised for taking advantage of people who are often not familiar with the share market.

Axa today said: “We strongly recommend that anyone who receives a letter from Colonial Capital Corporation take financial advice before making a decision in respect of that offer.

“We would like to reiterate that this offer is independent of Axa, and Axa in no way endorses the terms of the offer.”

Colonial offered NZ$5.00 a share for Axa securities last December, when they were trading at NZ$8.04.

Colonial also made an unsolicited offer to some AMP shareholders in October, at NZ$15.00 a share, which was below the market price of the time.

Other related articles:

Notice to shareholders - Colonial Capital Corporation
http://www.axaasiapacific.com.au/axaaph/axaaph.nsf/AttachmentsByTitle/Media_071105.pdf/$FILE/Media_071105.pdf

Tweed turns attention to AMP
http://www.tradersnetwork.org/intelligence/content/view/1404/51/

Home shareholders approached by Tweed
http://www.smh.com.au/news/Business/Home-shareholders-approached-by-Tweed/2006/09/14/1157827061354.html

Beware of Unsolicited Offers To Buy Your Shares - National Exchange, Country Estate & Agency and Direct Share Purchasing Corp
http://www.tradersnetwork.org/intelligence/content/view/49/51/

The secretive life of a market opportunist
http://theage.com.au/articles/2002/11/08/1036308482798.html

Government promises to restrict Tweed
http://smh.com.au/articles/2002/12/03/1038712936386.html

Buy-on-the-cheap trader stays in business
http://theage.com.au/articles/2003/05/06/1051987702629.html

Tweed attempts to lure Pivot investors
http://theage.com.au/articles/2003/05/08/1052280378748.html

IAG warns: look out for Tweed
http://www.smh.com.au/news/Business/IAG-warns-look-out-for-Tweed/2005/05/31/1117305618473.html

IOOF warns David Tweed is on the prowl
http://www.smh.com.au/news/Business/IOOF-warns-David-Tweed-is-on-the-prowl/2006/09/27/1159337212979.html