Tweed must show true market values
The Australian Investments and Securities Commission has ruled that off-market share dealer David Tweed must include the market value of shares when he makes purchase offers. Tweed has had the condition imposed on his licence and it applies to him personally, his company National Exchange Corporation and any company in which he has an interest. ASIC said anyone who receives an unsolicited offer should be able to compare Mr Tweed's offers with the shares' market value. It's expected that Mr Tweed and his lawyers will mount further legal action over ASIC's move.