Another "offer" from Litani for my Sunlife shares

Nigel_Tufnell

I'm not sure if its just me, but I am being inundated with so called offers for my Sunlife shares. The deal is so bad-about 40% less than their value. I realise that I can just throw these in the bin, but it almost seems like theft that someone will sign up to this. Its the fourth letter I've had now. 

I assume as there's nothing illegal, there's not much I can do apart from throw in the bin, but wondered if the financial watchdog can tell these people to stop pestering the Sunlife share holders.
Its the worst deal ever, although they have managed to "extend the offer til the end of August"

How generous...

Brie

Which company?  I get nothing when I google Litani.  Which might simply mean it's a scam of some sort.  But how do they know you have these shares?

gt94sss2

The shares are listed in New York and Toronto, so it's not a question for UK regulators. I presume your name and address are listed on the companies share register. Holing shares in a nominee account would remove your details from the share register.

The sun life website (https://www.sunlife.com/en/) does state:

Warning on Mini-Tender Offers

Have you been contacted by Litani LLC, Obatan LLC, New York Stock and Bond LLC, Ocehan LLC or Okello Ltd. with an offer to purchase your Sun Life shares?

Sun Life is not associated with and does not recommend or endorse offers from these entities. Investors should exercise caution with mini-tender offers.

https://www.sunlife.com/content/dam/sunlife/regional/global-marketing/documents/com/obatan-october-offer-sunlife-en.pdf

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https://www.thisismoney.co.uk/money/experts/article-10929709/TONY-HETHERINGTON-Obatan-offer-not-shares-scam-just-bad-deal.html also refers.

So not a scam but a very bad offer.

CW1204

My mum has fallen for this scam and has sent her shares to Litani. So far she hasn’t received any money. Does anybody on here have contact details for Litani as she has no paperwork to refer to? Thanks 

wmb194

CW1204 said:

My mum has fallen for this scam and has sent her shares to Litani. So far she hasn’t received any money. Does anybody on here have contact details for Litani as she has no paperwork to refer to? Thanks 

How long ago? How did she receive the offer?

CW1204

She has been getting letters from Litani for a few years  but decided she would have the money this time and thought they were part of sunlife. It has only been a month. We have said we would wait until the end of September before trying to contact them but she has no paperwork to refer to

wmb194

CW1204 said:

She has been getting letters from Litani for a few years  but decided she would have the money this time and thought they were part of sunlife. It has only been a month. We have said we would wait until the end of September before trying to contact them but she has no paperwork to refer to

I wonder whether there’s scope to contact the registrar and either tell it to cancel the transfer if it hasn’t already happened and/or for it to give you Litani’s contact details?

https://tsxtrust.com/sun-life

CW1204

I’m not sure she can stop the sale as the form she sent off had to be witnessed. . She spoke to Sunlife who wouldn’t give her any information. 

If she gets the money offered then she will just forget about it and put it down to experience.
if not do you know where we would find out if they had been sold? 

wmb194

CW1204 said:

I’m not sure she can stop the sale as the form she sent off had to be witnessed. . She spoke to Sunlife who wouldn’t give her any information. 

If she gets the money offered then she will just forget about it and put it down to experience.
if not do you know where we would find out if they had been sold? 

Call the registrar (not Sun Life) and ask about the holding. Looks like there's an online portal as well.

https://tsxtrust.com/sun-life