28 Jan 2016 10:35
28 January 2016
Oxus Gold plc
Statement re: Appointment of Administrators
Further to the announcement made by Oxus Gold plc ("Oxus Gold" or the "Company") on 23 December 2015, following the disappointing final award of the arbitral tribunal received on 22 December 2015, Oxus Gold has reviewed its cash position and prospects and determined that it would be the appropriate course of action to place the Company into administration. After taking independent advice, the directors concluded that this was the only feasible structure under which the existing award could be challenged and any further claims brought. Accordingly, Malcolm Cohen and Shane Crooks of BDO LLP were appointed as Joint Administrators to the Company on 27 January 2016.
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.
The Company's shares remain suspended from trading on AIM.
Any further correspondence to creditors and shareholders of the Company will be sent out by the Joint Administrators in due course.
Contact details:
Administrators:
BDO LLP 55 Baker Street London W1U 7EU oxusgold@bdo.co.uk | NOMAD:
SP Angel Corporate Finance LLP Ewan Leggat / Laura Harrison |
| Tel: +44 (0) 20 3470 0470
|