Member Info for wraith

Myself having first bought Oxus in 2009,... I am very surprised at arbitration outcome, (geopolitics ?). BW

10 Apr 2016 Result of meeting of creditors This document is being processed and will be available in 5 days. https://beta.companieshouse.gov.uk/company/04056219/filing-history BW

https://www.gov.uk/government/news/uk-response-to-argentinas-intention-to-extend-its-continental-shelf BW

The UN commission ( http://www.theguardian.com/uk-news/2016/mar/29/falkland-islands-argentina-waters-rules-un-commission ), does not appear, to be being very helpful here either. BW

The Joint Administrators' proposals will be published on this website prior to 22 March 2016; http://www.bdo.co.uk/services/business-restructuring/oxus-gold-plc-in-administration Hopefully this will answer some of our questions. BW

Yes, I noticed over on ADVFN, the mention of no, serious investigation journalists coverage of the OXUS story. Would be good to read all about it; ( tune https://youtu.be/vaAVByGaON0 ). BW

Crystsl,... who benefits from the secrecy here, why no exposure to public domain of how this judgment was arrived at, now judgment rendered. As a shareholder here, I feel justice has been blind,..... still no clarity, as to who is complicit here either. BW

PHOENIXLONDON,.... We also hold shares in Nominee at our stockbroker account, their Corporate Actions wrote to us on 05/02/2016, with reference to Oxus Gold Administration. In closing they said, "We will write out again to inform you of payment(s) made to Shareholders, if any." I assume your Nominee account will be similar to ours, & your provider will be in touch in due course. BW

Thanks for this link : http://www.bdo.co.uk/services/business-restructuring/oxus-gold-plc-in-administration BW

rickyroman,... It does all look very convenient, especially when also taking the geopolitics of the area into account. http://www.theguardian.com/world/2015/nov/01/john-kerry-uzbekistan-islam-karimov-central-asia-human-rights http://www.nytimes.com/2016/01/19/world/asia/uzbeks-say-inmate-due-for-release-died-in-2010.html?smid=tw-nytimesworld&smtyp=cur&_r=2 BW

Mills240,...Yes, that's what is stated in the 23/12/2015 RNS,.....but by the wording in RNS dated 17/15/2013,.." The parties have now agreed that all proceedings in respect of this court action will be stayed until after the Arbitral Tribunal has rendered its final award in the arbitration proceedings, or the arbitration is finally discontinued or disposed of."... which I'm reading to mean, will be dealt with separately, after finalization of arbitration proceedings. Are these scoundrels due any monies, in my view most certainly not. BW

I was already aware of the profile you mention. This is from RNS dated 17/05/2013,.... "The Ministry of Finance of the Republic of Uzbekistan brought a claim of $10.8 million against the Company in respect of the AGF Phase 2 Project Development Fund and obtained a judgment in its favour in the Uzbek courts, which it sought to enforce in the English courts. The parties have now agreed that all proceedings in respect of this court action will be stayed until after the Arbitral Tribunal has rendered its final award in the arbitration proceedings, or the arbitration is finally discontinued or disposed of.".... Source: http://online.hemscottir.com/servlet/HsPublic?context=ir.access&ir_option=RNS_NEWS&item=1508983072359434&ir_client_id=4252 Clarification on the claim mentioned above, made by The Ministry of Finance of the Republic of Uzbekistan for $10.8 million, will probably come in due course. BW

The fact OXUS state in RNS "The Joint Administrators will review the legal position in relation to the award and any other potential claims in liaison with the third party litigation funder." ( http://online.hemscottir.com/servlet/HsPublic?context=ir.access&ir_option=RNS_NEWS&item=2342086468698112&ir_client_id=4252 ), also leaves myself hopeful. Contentious Insolvency cases are often drawn out and expensive to resolve ; http://www.bdo.co.uk/__data/assets/pdf_file/0006/1338126/BDO-Contentious-Insolvency.pdf http://static.bdo.uk.com/assets/documents/2012/02/Contentious_Insolvency_May_2011__.pdf BW

A retained earnings deficit can also occur if the corporation issues more dividends than its current retained earnings balance. http://www.myaccountingcourse.com/accounting-dictionary/retained-earnings-deficit Oxus has paid two dividends totaling US$83.19m, (2004 & 2008) that I am aware of; http://www.oxusgold.co.uk/uploads/OxusAR2004.pdf http://www.oxusgold.co.uk/uploads/OxusAR08Final.pdf the way I read the above is, if we deduct these two dividend payments, this leaves available Tax Losses of approx US$56.81m by my calculations. BW

granto,.... I have a few £Ks in here myself, it was always here to the very end (core shareholding), that was my choice & mine alone. A justice system, that can come to such a conclusion, leaves me horrified with a total loss of trust in such a system. Not written these of yet myself, here is a tune whilst we wait; https://youtu.be/iWOyfLBYtuU . BW

I have not seen it posted, it refers to Akram Yuldashev, in this link; http://www.nytimes.com/2016/01/19/world/asia/uzbeks-say-inmate-due-for-release-died-in-2010.html?smid=tw-nytimesworld&smtyp=cur&_r=1 I believe this paragraph from link above, speaks volumes; "American officials, as they have on a variety of rights issues in Uzbekistan, had advocated quiet diplomacy, lest the government of President Islam Karimov take offense or fear losing face in a public dispute, and retaliate by closing military supply routes to Afghanistan." BW

Hi nutsy2012,........ Geopolitics of the area is interesting ( http://www.theguardian.com/world/2015/nov/01/john-kerry-uzbekistan-islam-karimov-central-asia-human-rights ),......have to say, my trust in the justice system, has had its foundations undermined, by this outcome of the arbitration. Likely outcome,.... with the present award standing, is injust for OXUS shareholders, (IMO). BW

goldbug2,... It is in the accounts, note 28 under Contingent asset / Contingent liability;- "28. Contingent asset In May 2007 the Group disposed of its interests in Kyrgyzstan (the Jerooy project), Turkey and Romania to KazakhGold Group Limited. KazakhGold is contracted to pay additional consideration of up to $80 million conditional upon KazakhGold or a nominee acquiring a licence to mine, or acquiring a Company or entity that has the benefit of a license to mine, the Jerooy deposit and commencing development or production at this site. No amounts have been recognised in these financial statements for this contingent asset. There have been no changes to this position known to the Company. Contingent liability AGF Phase 2 Project Development Fund Since 2004 the Company has accrued the AGF Phase 2 Project Development Fund (the "Fund") in respect of an amount to be paid to the Uzbek Government. Given the current dispute with the Uzbek Government, and the fact that the AGF Phase 2 Project is unlikely to be developed by the Group, the Fund has now been reclassified as a contingent liability of approximately $10.8 million the enforcement and recognition of which is subject to the outcome of the international arbitration against the Uzbek Government (see notes 1 and 30)." Source : http://online.hemscottir.com/servlet/HsPublic?context=ir.access&ir_option=RNS_NEWS&item=2084637539041280&ir_client_id=4252 The 23/12/2015 RNS states "Uzbekistan's counter-claims have been dismissed in their entirety for lack of jurisdiction." BW

Further correction: "US$6.15m". BW

Correction, should read " after allowing for Calunius to get the US$6.15 plus costs since June 2015 back, plus a return of approx 17% on their investment = US$8m approx" BW