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When you sell a car, usually the first price you get offered for it is the best price. This share had it's time and it didn't come in. Just like Jordan/the spice girls/take that/tamagotchi's (cyber pets)/Pokémon cards/Michael Jackson, the time has to be just right. This had it's shot and it wasn't meant to be
I intend to raise the issue about the lack of representation for shareholders and the protection of shareholder interests with regard to funding arrangements for an appeal. A certain amount of transparency is needed on the funding issue including any exisiting terms that may or may not mean that Calunius is obligated to fund on the same terms as previously.
So what can we do ,apart from mentioning the above to administrators? Since there doesn't appear to be anyone representing us I guess we need a collective effort here by the shareholders contacting the administrators
Due to the delay in commenting and other factors such as the blatant injustive of the split panel decision, I am quietly confident Oxus will appeal. If that is taken as a likely prospect then the main questions of significance for shareholders are :- a) Is Calunius and / or its subisiary Gretton obligated to fund under the current contract? b) If not what will be the funding arrangement and will the funders increase their potential won % to a massive extent to the detriment of shareholders?. c) Who is liasing with the administrators to protect shareholder interests. Shareholders can't take it for granted that Stead will because he had a mysterious deal that remained undisclosed. He didn't take a salary and he didn't receive shares but he didn't disclose what it was. Perhaps it is a win % and if so he would not necessarily be aligned with shareholders. Likewise for RAB they might be invited to participate in funding an appeal and aligned interests with shareholders can't be taken for granted.. Shareholders need to make sure they are not squeezed out from the potential benefits of an appeal.
I am expecting word soon. According to the steps of administration (google it) we should hear something within next couple of weeks. They have to tell us something every six months, whether we are at the top of the heap or the bottom of the pile.
everyone had given up and suddenly more positive again ;)
a11gar/rhodi/anyone with experience of these appeal processes.........do you know how long they take to meet with a verdict. Not that it matters much as we cant access our investments, but are we looking at years AGAIN like first time round or possibly months as much of the facts and figures have already been assessed? Cheers guys
i feel they are tight lipped until now as they are going through the right bodies and red tape for the next move which will be putting in the appeal i have spoken to many lawyers that are looking into the acts of whats happened and all 3 lawyers have came up that in there minds an appeal will happen and have a good chance in winning there appeal but it takes time to get these appeals put through and all three lawyers have said you have the best people[adminastrators] on board to get the best outcome for the buisness and shareholders interests in the company they need time plus time to get this appeal forward to the frech courts but it will happen
I would not be surprised if appeal was not being seriously considered. I have had a few friends peruse the case of oxus who are versed in corporate legal disputes and they say that the verdict was a whitewash and the fact that it was released when it was shows that the unicitral as good as know it also. Big ramifications for unicitral on this one and they could well lose the appeal on the validity of the verdict. They will lose all credibility in my opinion. If oxus win the appeal which they have an excellent chance of doing as the corruption will not get to the French courts as easily and they have their reputation to maintain. What happens after that I am not sure. But I am sure that the administrators have to do what is in the best interest of getting the greatest return and I therefore believe that in time an appeal will be made to the French courts. To many people that I have spoken with believe that it will happen and they are all better qualified than myself in suggesting this would be the course of action.
Uzbekistan appears to be winning all round, I wonder why? ..... On March 30, 2016, TASS news agency reported that Russia agreed to pardon 95 percent of Uzbekistan’s outstanding debt to Moscow. This landmark deal was heralded by the Russian state media as a major breakthrough in improving the often-strained relationship between Russia and Uzbekistan. Source: http://thediplomat.com/2016/05/the-implications-of-tightening-russia-uzbekistan-ties/ BW
...shall we ever hear anything more?
Nothing new here;- http://www.bdo.co.uk/services/business-restructuring/oxus-gold-plc-in-administration BW
Increased by ?
I understand oxus had apparently lost the case and the company stopped trading but why is it that my shares have increased in value even though I can't access them. I use Halifax if that helps.
Thanks John, it's just that I was in HNR from 16p and will have a CGT liability this year over my allowance. I had written OXS off in 2015/16 but I'll re calculate my return to claw it back and use it this year. Hmm... every cloud has a silver lining.
Any time from when the loss occurred and 4 years from then . As you can't actually sell, it's unclear as to what the date of the loss is, but I would say it's only when the Administrator closes the company and makes the final payment to creditors. Which I don't think that they have done as Calinius I suspect haven't made a final decision So IMHO ...2016/17 https://www.gov.uk/capital-gains-tax/losses
I can recall one Paranoia Blue (a serial ramper) 'Singing-the-Praises' of Oxus Gold. Good Luck from the Heart to All
If this is a write off when do I claim the CGT relief? Can I claim it in 2015/16 since that was when we found out the case was lost or do I claim it in this tax year 2016/17.
My hope is, those with the power to pursue this further, also see this current award result as a Travesty Of Justice & worth pursuing further. BW
That's your opinion but I just can't see this being the end... Too much time, effort and money has gone into this to just give up...
Not written these off yet,.... I do see this current award result, as a travesty of justice. It will not come as a surprise to me, if eventually, I do have to write my investment here off. ( Tune https://youtu.be/NG2zyeVRcbs ) BW
this is done! In my opinion, it was smoke and mirrors to keep the private investor interested in order to prevent share price decimation
website cease to exists when it went into Administration.. doesn't mean anything.
It's over. No appeal coming. Corruption and dishonesty pays in this world