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Marakand Minerals Share Discussion Threads
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|Marakand Minerals Limited
20 December 2007
MARAKAND MINERALS LIMITED
For IMMEDIATE release - 20 December 2007
Offer from Oxus Gold plc
LONDON: 20 December 2007 - Marakand Minerals Limited ('Marakand' or the
'Company') (MKD.L) is pleased to report that Oxus Gold plc ('Oxus') has
completed the acquisition of the remaining ordinary shares of Marakand.
Prior to this Oxus owned 84.04% of the issued shares of Marakand and its
acquisition of the remaining shares on the basis of 0.135 new Oxus share for
each Marakand share will result in a total of 2,221,621 new ordinary Oxus shares
of 1p each ('New Shares') being issued to Marakand shareholders.
Oxus will issue New Shares directly to those Marakand shareholders who completed
and returned their acceptance form and transfer documents (or CREST transfer
instruction as the case may be) by 10 December 2007 as requested in the
acceptance notice sent to all Marakand shareholders.
Oxus will issue New Shares to Marakand on trust for those Marakand shareholders
who have not returned their acceptance forms and/or transfer documents (or CREST
transfer instructions as the case may be). These shareholders should contact
Capita Registrars, as registrars for Marakand, to establish what action they
need to take to claim their New Shares.
Application has been made for the New Shares to be admitted to trading on the
AIM Market of the London Stock Exchange plc and dealings in the New Shares are
expected to commence on 21 December 2007. The New Shares will rank pari passu
with existing ordinary shares.
Following the allotment of the New Shares, Marakand will be wholly-owned by Oxus
and Oxus's issued share capital will be 367,654,127 ordinary shares of 1p each.|
|Marakand Minerals Limited
13 November 2007
Marakand Minerals Limited
Resolutions approved at EGM
London: Monday 12 November 2007 - Marakand Minerals Limited ('Marakand' or the
'Company') announces that, at the Extraordinary General Meeting held in London
today, all of the resolutions were duly passed, accordingly the Offer Period is
As described in the circular to shareholders of the Company dated 22 October
2007, the Directors of Marakand understand that Oxus Gold plc will send an
acquisition notice to shareholders on or around 19 November 2007. The date for
return of acceptance notices by shareholders will be on or around 10 December
|Acceptance of the "offer" (the rip-off) must be wihtin 21 days from the date of the acquisition notice (it is dated 19th November 2007) (so the completion date is 10th December?). Failure to send in your MKD certs. with a stock transfer form made in favour of Oxus, means the MKD board has the right to accept the offer on your behalf, i.e. they have the right to act as your agent. (= they just strike you off the MKD share register?. Yes, it may be possible to sell on Monday in the mkt and buy some OXS on better terms? Or was today the last day of MKD's listing? I have some in certificated form and some in a nominee name. I may not even bother sending any in: saves the postage!
Edit. "Oxus will within 14 days of the completion date (i.e. before 24th December) pay to MKD the consideration". MKD then pays out the consideration to the MKD holders on presentation of a signed acceptance form. Sounds like if we do as instructed we get the Oxus shares at the latest on 24th December. If we don't, MKD keeps the consideration on our behalf until we comply.|
|with a 13 : 1 offer and a current share ratio of 7 : 1 why not sell now? Just a question I am currently asking myself. Anyone know when the conversion date is?|
|Well , glad I sold between 18 and 21p. Not much going for poor Marakand.
Was it always simply a manipulation instrument of Oxus.?|
|0238jr: I have no idea how spreadbetting firms work. However, it can't be beyond the wit of them to multiply the Oxs price by 0.135 to get close to calculating a price to close out an MKD spread bet surely? Or are the staff the same people who accept horse race bets?
I agree OTD that we were not treated as an independent company after the 3 for 1 deal. Unlike the previous deal we are not even being offered any upside like they were after they converted. (They were offered a bonus if Khandiza got the licence). We have been screwed (similar situation at CER with Eureka).|
|anyone know what will happen to spread bets on mkd? will they be transferred to oxs bets?|
|What I learned: Sell as soon as management, institutional investors and selected pi´s get a 3:1 deal.
It was not only political risk (even when this was the most important reason). MKD has been used by OXS as change for other deals and the interests of pi´s were ignored when selling the last properties (Turkey) that MKD owned. It looks as if MKD ceased to be an independent company after the 3:1 deal.
All IMHO ....|
|Sad indeed but a salutary lesson in the pitfalls of investing in countries which are riddled with corruption and do not have a proper legal framework. Belatedly, OXS now has the kind of local partners it should have brought in at the start.
This whole saga has taught me to take political risk seriously. I'm far more cautious now and no longer invest new funds in dodgy countres no matter how superficially attractive the story.|
|MKD 6 - 6.25p , OXS 51 - 52p
Conversion ratio .135|
|One wonders if the MKD minority are being used as a bargaining chip to ensure success of other Oxus projects in Uz, until they explain why they are not going to arbitration.|
|Exactly, what happened to international arbitration. Very sad conclusion.
Prices bid 6p offer 6.25p|
|So much for a 3 for 1 offer: more like 8 mkd for 1 oxs (and even that is minus the KZG element). A horrible end. And why aren't Oxus taking them to arbitration?
"The Company and its Uzbek subsidiary
no longer have any cash resources or any ability to pursue its interests in the
Why is that the case?|
|I continue to hold too, been in since floatation and added along the way, although I did sell some at 50 odd p if I remember correctly. Had things gone to plan I'd have had a tidy sum now. My shares are stuck in a drawer somewhere gathering dust until the grand finale or last rites, whichever comes first!|
|Thanks all. Continuing to hold (72k).|
|Another thought is that OXS is bidding for stock to tie up a loose end. ie they will try and buy as much as possible in the mkt. and then bid for the balance. But....it's anyone's guess really.|
Khandiza was effectively and arbitarily expropriated by the Uzbeks and OXS couldn't make a fuss for obvious reasons. However such action is not without costs to the Uzbeks. There is always a slim possibility that the Uzbeks will realise their behaviour sends out all the wrong signals to foreign investors and so might give MKD a slice, albeit smaller, of the action.|
|Looks like game playing, prices bid 5.5p offer 6.25p|
|I can't see any justification for the share price rise, but then there wasn't much for the fall either (other than to reflect another year's running costs that have no offsetting revenue). All very odd. MM's playing games?|
|Thanks GS. Alors quel horreur! C'est vraiment inquietant.|
You still here watching L2?
Aren't there more pressing issues about?|