27 Apr 2011

Whimp at it again

8:15 am on 27 April 2011

Share buyer Bernard Whimp is again trying to purchase stocks below their market price.

The Warehouse Group says some of its shareholders have received an offer from Cargill Securities offering $2.35 a share, considerably below the current market price of $3.55.

The company says it believes Cargill Securities is associated with Bernard Whimp and is warning shareholders to be very wary of such offers.

Last week, Sky City Entertainment Group expressed similar concerns about Mr Whimp.

He is currently facing legal action from the Securities Commission for misleading investors about bids he made for six companies that appeared to offer a premium on the market price.

The fine print revealed Mr Whimp would pay for the shares over 10 years, while collecting all the dividends.