Vector says it is appalled that the man behind an unsolicited low-value share offer is threatening to sue some shareholders if they do not agree to complete the transaction.
Chairman Michael Stiassney says a number of shareholders have contacted Vector, deeply concerned and distraught by the threat of legal action against them.
About 170 investors failed to fill in the paperwork correctly when selling their shares to Bernard Whimp for two-thirds below the market price.
Vector has urged those investors to rethink their position.
Mr Stiassney says they can still sell if they want but the forms must be correct.
He says shareholders who do not want to sell should ignore Mr Whimp's threats.
