Response not a Whimper

Bernard Whimp is behind a series of low offers for shares in NZ listed companies. Photo / APN

Angry shareholders are using the free-post envelopes supplied with this week's offers to vent their anger at Bernard Whimp.

The Christchurch businessman is behind a series of low-ball offers for shares in top New Zealand listed companies.

Those who contacted the Herald said they were returning the envelopes empty, filled with junk mail or with letters expressing their disgust at the offer made by Whimp.

In a letter addressed to the various limited partnerships used by Whimp, Richard Stockley said he hoped any money gained through the offer "is cursed and brings you swathes of misfortune and hardship for many a year".

"It is my sincere hope that, in the smallest possible way, the freepost facility that has enabled this communique to reach you eats mercilessly into your margins.

"However small, the sum wrested from your practice is nevertheless a small victory for honest people," he wrote.

Whimp appears to have targeted investors with smaller parcels of shares, many elderly, at a time when the offer of ready cash may appeal and regular sources of advice such as sharebrokers, lawyers and family members may be on holiday.

Grey Power national president Roy Reid says the offer is likely to have been received by investors already hurt by the loss of money in finance company collapses and is advising members not to accept it.