Rio Tinto warns about David Tweed 7 May 2008, SMH - Rio Tinto Ltd, the world's third largest mining company, has warned its shareholders to be wary about potential unsolicited offers from sharemarket opportunist David Tweed. Rio Tinto says it's aware that a company called Australian Share Purchasing Corporation Pty Ltd, of which Mr Tweed was the sole director, has written to some shareholders offering to purchase their shares.

"Mr Tweed is frequently mentioned in the media for making offers to the holders of small parcels of shares in listed companies at prices which are significantly below current market value," Rio Tinto company secretary Stephen Consedine said in a letter to shareholders.

"It is possible that Australian Share Purchasing Corporation, or another company associated with Mr Tweed, will send you an unsolicited offer to purchase your Rio Tinto Ltd shares."

Rio Tinto said that on April 30, some shareholders were offered $100 for each Rio Tinto share at a time when the average price for those shares during the last week of April was $142.91.

Source: Rio Tinto warns about David Tweed