Watford shareholders are being targeted by companies offering them up to £20 for their shares, which are worth 9.5p.

A number of shareholders have contacted the Watford Observer to express their concerns after a company claiming to be in New York, rang up asking if they wanted to sell their shares at a hugely inflated price.

Shareholders would then be sent an email with a “non-disclosure” agreement, asking for a range of information, including personal details such as name and address, the name of the company, and the number of shares purchased.

Most shareholders who contacted the Watford Observer did not continue the discussions, but one man confirmed the company then claimed he would have to pay some money in advance in the form of an "indemnity bond".

Watford FC says any shareholder concerned about similar calls should contact them on 01923 496000.