Be wary of purchase offer, shareholders warned

Bendigo Bank managing director Rob Hunt today warned his Company's shareholders they might receive an "unfair offer" to buy their Bendigo Bank shares.

Mr Hunt said several shareholders had alerted the bank about a targeted offer they had received in the mail to sell their shares off-market for a cash payment of $5.00 per share.

"That is not a fair price based on the stock market's current valuation of Bendigo Bank. Yesterday's closing price for our stock was $8.20 per share.

"We recommend shareholders reject the offer of $5.00, or at least seek independent advice before considering selling their shares.

"The bank's share registry can also provide shareholders with contact details for registered brokers who can obtain correct market value for their shares if they wish to sell Bendigo stock."

Bendigo Bank share registry can be contacted on 1800 646 042.