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Bendigo Bank warns an 'opportunistic' share offer

29 March 2007 |Media centre

Bendigo Bank today warned its 51,000 shareholders they may receive a letter from Share Buying Group Pty Ltd, or others, offering to buy their shares at a price below the current market value.

Bank spokesman Owen Davies said letters currently circulating were offering to purchase Bendigo Bank shares at $10.00 each.

Bendigo Bank shares closed trading today at $16.84.

“This offer appears to be opportunistic,” said bank spokesman Owen Davies. “This offer is significantly under the current market value of Bendigo Bank shares.

“Our shareholders would be aware that we are considering a conditional merger proposal from Bank of Queensland, and there is potential for shareholders receiving this offer to be confused.

“We would urge our shareholders to seek independent financial advice and to check the current price of Bendigo Bank shares before taking any action in response to an unsolicited offer for their shares.”

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Bendigo and Adelaide Bank Limited, ABN 11 068 049 178 AFSL / Australian Credit Licence 237879. Any advice provided on this website is of a general nature only and does not take into account your personal needs, objectives and financial circumstances. You should consider whether it is appropriate for your situation. Please read the applicable Disclosure Documents before acquiring any product described on this website. Please also review our Financial Services Guide (FSG) before accessing information on this website. Information on this page can change without notice to you.

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