Warning to Shareholders

Over the last year many companies have become aware that their shareholders have received unsolicited phone calls or correspondence concerning investment matters. These are typically from overseas based 'brokers' who target UK shareholders offering to sell them what often turn out to be worthless or high risk shares in US or UK investments.

Similarly they may offer to purchase your shares from you, usually at higher than market prices. A common tactic is for the caller to also ask you to pay something up front, as a bond or other form of security, which they say you'll get back if the sale doesn't go ahead. They could also ask you to sign a form preventing you from disclosing details of the offer.

Don't be fooled by such an approach! It's probably no more than an advance fee scam – where you give them your money and never hear back from them again. They can be very persistent, phoning you many times and even sending you documents or forms to complete.

A 2006 survey by the Financial Services Authority (FSA) has reported that the average amount lost by investors is around £20,000. It is not just the novice investor that has been duped in this way - many of the victims had been successfully investing for several years.

Shareholders are advised to be very wary of any unsolicited advice, offers to buy shares at a discount or sell them at a premium, or offers of free reports into the Company.

If you receive any unsolicited investment advice:

 

• Make sure you get the correct name of the person and organisation.
• Check that they are properly authorised by the FSA before getting involved. You can check at www.fsa.gov.uk/Pages/register.
• The FSA also maintains on its website a list of unauthorised overseas firms who are targeting, or have targeted, UK investors and any approach from such organisations should be reported to the FSA so that this list can be kept up to date and any other appropriate action can be considered. If you deal with an unauthorised firm, you would not be eligible to receive payment under the Financial Services Compensation Scheme. The FSA can be contacted by completing an online form at www.fsa.gov.uk/pages/doing/regulated/law/alerts/overseas.shtml or, if you do not have access to the internet, by telephone on 0845 606 1234.
• Inform our Registrars on 0871 384 2104 (or +44 (0)121 415 7047 if calling from overseas). Our Registrars are not able to investigate such incidents themselves but will record the details, pass them on to the Company and liaise with the FSA.

 

Details of any dealing facilities that are endorsed by Cable and Wireless Communications Plc will be included in Company mailings.

If you deal with an unauthorised firm, you will not be eligible to receive payment under the Financial Services Compensation Scheme. The FSA can be contacted by completing an online form at http://www.fsa.gov.uk/Pages/Doing/Regulated/Law/Alerts/form.shtml

More detailed information on this or similar activity can be found on the FSA website: www.moneymadeclear.fsa.gov.uk.

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Calendar

Q3 2011/12 Interim Management Statement
10 February, 2012
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FY 2011/12 Preliminary results
24 May, 2012
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Annual General Meeting
20 July, 2012
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See our 2010/11 highlights video and the thoughts of our CEO and CFO on last year's results