Bizarre Share Offer Sucks!
Published on Monday, the 7th of May, 2007 and last updated on the 28th of October, 2011
I have just received the most bizarre share purchase offer I've ever seen. It seems some weirdo company called Colonial Capital Corporation wants to pay about 60% of the market rate to buy my shares in Tower Australia Group.I only have these few shares because of some insurance policy I used to have, and probably I should have sold them years ago, but to be offered 60% market value seems pretty insulting. I wonder how many suckers will be fooled?A quick search for CCC shows how well-recognised this David Tweed asshole really is.Good to see that Wikipedia has a pretty thorough write-up on the guy. Maybe someone has some pictures of him that they could upload there as well, so we can recognise him in the street. The Melbourne Age can help out a little on that point, as can the Sydney Morning Herald though he always wears sunglasses, it seems.The registered office of the Colonial Capital Corporation (NZ Company no. 1891726) is "Andrew James Kennedy, Level 2, 6 Clayton Street, Newmarket, Auckland". I guess if you know that person you should make sure they are aware of the kind of amoral shyster they are fronting. It seems that particular location is a "virtual office" that you can rent for only $120/month from the "Auckland Business Centre Limited", Ph. 09 522 7130. I wonder if Mr. Kennedy takes phone calls, and what company name he gives when he answers?A previously infamous company also with David Tweed as sole director is National Exchange Ltd (NZ Company no. 1559669). The office for that one was at Suite 102, 63 Remuera Road. No name associated with that, but the constitution is pretty much a license to ensure any funds get offshore as quickly as possible, and a Google search suggests that the address generally has some very dodgy businesses associated with it.
I have just received the most bizarre share purchase offer I've ever seen. It seems some weirdo company called Colonial Capital Corporation wants to pay about 60% of the market rate to buy my shares in Tower Australia Group.
I only have these few shares because of some insurance policy I used to have, and probably I should have sold them years ago, but to be offered 60% market value seems pretty insulting. I wonder how many suckers will be fooled?
A quick search for CCC shows how well-recognised this David Tweed asshole really is.
Good to see that Wikipedia has a pretty thorough write-up on the guy. Maybe someone has some pictures of him that they could upload there as well, so we can recognise him in the street. The Melbourne Age can help out a little on that point, as can the Sydney Morning Herald though he always wears sunglasses, it seems.
The registered office of the Colonial Capital Corporation (NZ Company no. 1891726) is "Andrew James Kennedy, Level 2, 6 Clayton Street, Newmarket, Auckland". I guess if you know that person you should make sure they are aware of the kind of amoral shyster they are fronting. It seems that particular location is a "virtual office" that you can rent for only $120/month from the "Auckland Business Centre Limited", Ph. 09 522 7130. I wonder if Mr. Kennedy takes phone calls, and what company name he gives when he answers?
A previously infamous company also with David Tweed as sole director is National Exchange Ltd (NZ Company no. 1559669). The office for that one was at Suite 102, 63 Remuera Road. No name associated with that, but the constitution is pretty much a license to ensure any funds get offshore as quickly as possible, and a Google search suggests that the address generally has some very dodgy businesses associated with it.
Flattr
![[D]](/images/tag_delicious.png "Submit to Del.icio.us"){kind=small}
![[Digg]](/images/tag_digg.png "Submit to Digg"){kind=small}
![[FB]](/images/tag_facebook.png "Set status on Facebook"){kind=small}
![[R]](/images/tag_reddit.png "Submit to Reddit"){kind=small}
![[SU]](/images/tag_stumbleupon.png "Submit to Stumble Upon"){kind=small}
![[Tweet]](/images/tag_twitter.png "Set status on Twitter"){kind=small}
CCC scams
They are at it now for BHP dhares, offering shareholders prices above market, but payment is due only in annual installments over 10 years- Yeah, right!
Colonial Capital Corporation Ltd
David Tweed is at it again offering NZ$72 per BHP share (worth NZ$50.80 at prsent) BUT there is a catch -he is "promising" to pay $4 per share per year for 18 years. Using my trusty calculator & after adjusting for inflation of 2.5% this offer is only worth $22.75 in todays dollars!
BHPs growth has been substantial & after 18 years and assuming a modest 5% growth these shares would be worth $121 in 18 years.
This guy is despicable & should be shut down.
Colonial Capital Corporation offer to AXA Asia Pacific Sharehold
Hi there,
Was wondering if anyone still has a copy of the share offer to AXA Asia Pacific Shareholders from Colonial Capital Corporation. Really needed a copy as my Dad unfortunately has been stung by this guy and wanted to know how to get a hold of this company. My Dad hasn't signed anything or filled out his form incorrectly, but they've gone ahead and gotten his shares anyway. Is this possible? He didn't give them his SRN number which is what CCC was requesting, then my Dad changed his mind and decided not to go ahead with the sale - therefore he didn't send anything back in with his correct details or SRN Number.
Now he's received a cheque for one fifteenth (the first installment) of the total he should be paid. And now we are just finding out how much of a scam artist this company is.
Would really appreciate some links or help if anyone could.
Thanking you.
ccc copy
Colonial Capital Corporation limited
135 Albert Street, Auckland, New Zealand.
PO BOX 912042, Auckland Mail Centre 1142, Auckland.
Capital corp share offer for Axa shares
Hi - not sure how old your message is but I was just googling to find out details of this company as they have an old PO box address for my shares. I did not take up on the offer but still have the form and can send to you if you need it. Going by what you say I am now concerned of how I can track down my shares. I found this the other day when going through some old papers and realised I had not received any dividends in the last year? If you can advise who I can check up on my shares would very much appreciate it.
checking up on your shares
If Colonial Capital Corporation had an old address for your shares then so will the company he was offering for, because that's the way he gets his information. You need to find the address of the share registry for the company (usually they have this on their website somewhere, or you can ring them up and ask them) and send them a letter saying what your new address is.
Unfortunately AXA don't mention who their share registrar is on their website as far as I can see, so your best bet is probably to ring them... the change of address form on the AXA 'contact us' page seems to be for policyholders rather than shareholders. Or perhaps you want the AXA New Zealand one for the phone number.
Or actually, probably the contact information for AXA Asia Pacific which does have a share registry contact.
C.C.C. AXA Asia Pacific Shareholders
HE IS AT IT AGAIN TODAY IN THE MAIL I GOT AN OFFER TO BUY MY SHARES AT NZ$4.00 .
DON'T DO IT HOLD ON TO THE SHARES THEY WILL GO UP AGAIN, THEY ARE STANDING AT NZ$6.30.
C.C.C. AXA Offer
I got that offer too. Noted AXA valued those shares at $8.05 in March of this year, so he is only offerring half price. For the Dad, being bought out without his permission, contact details are CCC Limited, 135 Albert Street, Auckland. PO Box 912042 Auckland mail Centre 1142. Good Luck
CCC Ltd
It would appear that I have been scammed by this shyster. Silly me took an offer for a proxy on my BHP Bilton Shares earlier this year without reading the fine print properly.I read the offer as being paid out over 18 months not 18 years as on the offer. Now a get an offer of a final pay out of $800 "in lieu of your right to receive those annual instalments", now as an unsecured creditor of CCC Ltd.
Any comments.
Pay it forward...
As I understand it, David Tweed usually operates within the letter of the law, so there is usually little to be done after the fact. He exists in a vacuum of knowledge, however, which is why I publicised the information about the scam in the first place.
It is possible that there was something flawed in the offer you accepted, and there is an Australian organisation that you could lay a complaint with, but I don't know whom that would be.
Other than that, my only recommendation is to do what can be done to shine the light of publicity on him and to make this kind of predatory behaviour as unprofitable as possible for him. If you can't recover your lost money, perhaps you can at least affect the future enough so that someone else does not fall into the trap.
Regards,
Andrew McMillan.
Anyone heard anything from the solicitor looking after CCC???
Has anyone heard anything feedback or comments from the solicitor Andrew James Kennedy - Pridentia Law handling this CCC case. Any comments would be appreciated - Thanks