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That email you received is an automated response similar to an out of office email. I got the same when I asked a question.
From everything I've read, and from all the timely rns's I've seen, I think its just all been a timely known about situation for those at the top end of the scale. The Darwin thing etc etc, Darwin just don't back losses, they are assured of gains before funding and are one of the nightmares of aim funding. I don't know truly why they disappeared with definite garauntee of reappearance to make again, possibly it was for rab mates too, but rest assured the only losers here are the likes of us. Yep it seems 22nd march, but by that date I'm guessing we will be delisted due to the rule of nomad, otherwise they would be stating we may notify of any developments on that score prior to the February delist date if we have no nomad. We have to wait until 22nd march I feel but you can bet your bottom dollar the proposals will go forwards, and we will stay backwards. I suppose anything or any future hope would be better than nothing, But I expect (hope not) the money guys will have anything and we may see very very little or nothing but years of what we've witnessed thus far.
We will all have to wait until the 22nd of March, it's just been a waiting game all the time with this share, surely one day we'll be in the know.
Who is also invested here. He had a go at emailing the administrators asking several questions due to the fact he felt they had had a little time and may notify of any developments. I cant remember all the questions he asked but remember a couple of important ones that I would ask. They were Would there be a new nomad appointed or ill the shares be delisted from trading on aim . And something along the lines of if delisted will we still hold an interest if there is ongoing appeal or request for decision to be set aside, or are private investors shares now totally worthless. All to no avail although he did say e got a rapid reply along these lines. Thanks for your email and we are currently reviewing all and will be writing to everybody with our proposals on 22nd march. He and I cannot understand why they could not answer a single question, as it would hardly be market sensitive. Total disgrace
Signed it, only 2965 signatures. Still need anoypther 7000 just to get a response from Govt. keep spreading the word on other share pages.
signed by me
have signed it
Done it :-)
Scotty only 5k with Marconi mine was 20k and then northern rock with 5k and now this with another 9k think I'm bout done with this stuff my last chance is oil shares
The most positive of all here seemed to be our own Captain Shead... every RNS was positive we would be compensated for the "blatant" misappropriation of the assets! Wonder if the final report will ever be published... and we get to see why it all went so badly wrong? I'll take my two quid and buy half a pint with it!! :)
ago I owned Marconi shares.. (that's where I should have stopped) and when was all said and done I got a check £2 or something like that out of a 5k holding. I suspect that any thing left (if at all) will follow the same scenario. Such a shame. This seemed so positive..
The Administrators get their fees covered before any money is distributed. I imagine they will be charging somewhere in the region of £400 per hour for their services. So if they take 15 mins to answer an email or call from a shareholder it reduces the pot of money to be distributed (if there actually is one) by £100!! On the plus side, the fact that there are administrators working on this means there is some money in the pot for them to actually bother with it.
Oldernotwiser, that's a good point about the tax rebate not being in contention. It looks highly possible that the Uzbels were simply withholding in lieu of the amount they wanted to claim in the UK courts. The arbitration merely stated they didn't have jurisdiction over that so it wasn't a win by Calunius in knocking it aside, however, administration has done that. So Oxus has no liabilities of significance aside from, potentially, Calunius. On the face of it then they appear not to have met any standard litigation funding criteria that warrants payment. It's important that the administrator clarifies that point at an early stage and also clarifies if a decision on whether to try and get the French courts to set aside has been made. I also hope he will ensure that shareholders get to see the full arbitration award document.
Background and contact information on the Administrators. Malcolm Cohen - Partner Services: Business Restructuring BIOGRAPHY: Malcolm is a Licensed Insolvency Practitioner with thirty years business restructuring and insolvency experience. Malcolm has extensive knowledge across a range of sectors including, financial services, property, professional services, shipping and not for profit. Malcolm leads the firms' National Contentious Insolvency Team, this team is dedicated to recovering assets through litigation, cross border investigations and uncovering fraud. He also leads the firms' Corporate Streamlining Team. Address: 55 Baker Street London W1U 7EU Office telephone: 020 7486 5888 Malcolm's Telephone: 0207 893 2223 For email go to :- hxxp://www.bdo.co.uk/contacts-and-locations/malcolm-cohen Shane Crooks Partner Services: Business Restructuring Contact Details Address: 55 Baker Street London W1U 7EU Office telephone: 020 7486 5888 Shane's Telephone: 0207 893 3213 For email go to :- hxxp://www.bdo.co.uk/contacts-and-locations/shane-crooks
as usual we are in the dark about all these crucial questions and now the website seems gone... pretty sure the litigation funders have first port of call on any 'winnings' even though this is hardly what we call a win.
The purpose of the administrator is to attempt to keep the company operational and if possible find a buyer. Failing that then yes, they will attempt to liquidate all the assets and pay all the creditors before distributing any remaining surplus to shareholders. The main issue as I see it is the question of legal fees. They were incurred on a no win no fee basis. As the RNS clearly stated that the OXS case had been dismissed how can it possibly be interpreted as a win. The tax refund due to OXS may never have been in dispute in the first case for all we know so not the result of any effort by the legal team. If those potential legal fees can be avoided then with limited debts there should be something left for the shareholders.
Zero value because they cant be traded
I spoke to my broker. They said nil value is the default for suspended shares. Its up to me to get an independent valuation if it is required.
I agree but from experience administration means debts out way total possible value and that does mean nothing for share holders.
John This was seen a long time ago, I spoke to the guy who runs the website, Andrew (I forget his second name) He explained that the date was an error in his system, this was first seen in 2013/2014. This is definitely a very old comment on ITALAW.
Who can say but something very fishy went on here with the very near future thing and then Darwin back in, spike and trounce from Darwin, or just the same old story in aims, whilst Darwin are in many pies, I wonder how many months prior to their deal announced they know what the deal will be, and what the rns's will be for guarantee they will reap. Yes all know exactly how Darwin work, all. So how many others that voice the deal, do the deal and know about the deal join to reap undetected from cfd, spread bet, forward selling their salaried shares either through broker or nominee account (hidden stuff). Darwin although funding and reaping, can always be used as scape goat. I don't care what anyone says as I have watched it in too many aim shares, many more than I have invested in. The long and the short is Darwin are often the known scape goat for the whole deal crowd, and without the likes of Darwin and other placee's/funders reaping aims would not get the bods rich and the prits conned. So rs knows nothing all along, he don't earn no money (means he's poor now no? NO) its the same everywhere you look. If you think this one is bad you should have seen the sh*te spikes in chl, contradictory news upon contradictory news, a massive spike only to be placed at less than half the spike on the news that chl were no longer being accused of fraud themselves. Oh suddenly that's not the case lol. If you think that's bad you should see the full story on afr (AFREN) and that aint even as low as aim and they got away with it. If you invest heavily in aims you will have knowledge or be lucky, if you hit bottoms , catch a spike and get a 20% return get out and find another one. That way you could be lucky when the clan that have loaded low may give you a free ride if it spikes (as they arrange some from lows) and if totally lucky that they play when you are, you could bag even on your free ride, but 10 or 20% up is better than the 80% of people that end up to 100% down or gone
you're quite right :) There's still hope that public disclosure will happen. I just fail to understand the delay. In my previous experience with Rurelec the report was published the day after the market was notified of the final decsion
Mind you it does say 2012, so it is related to the recent final award decision or just the preliminary ruling on jurisdiction?
Stinks to high heaven, doesn't it? :-(
I got a letter from my broker saying oxs has announced a corporate event....also telling about administration.....finishing on this comment "please note that this event will be mandatory." Does anyone else know anything about this ....can't afford to come down to London.....other end of the country