Pure Gold Mining Share Discussion Threads

[dhlindy1] 31/12/2016 10:51

Thanks alan that will be helpful. As I mentioned below it beats me why they can not simply post this sort of info on a website for us all to access.

HNY to all.

[alan@bj] 30/12/2016 19:08

I have emailed a contact at the liquidators but received an "Out of Office" auto reply. She's back at the grindstone on Jan 3rd. I'll post the response.

[jbarcroftr] 30/12/2016 19:07

My account has received the payment

[zimbtrader] 30/12/2016 18:15

Same here (nothing received on either account) but I'll keep an eye open next week when people drag themselves back into work. Thanks for the heads up, dhlindy1.

[alan@bj] 30/12/2016 14:03

I haven't received anything, but with half the country on holiday that's not too surprising.

[dhlindy1] 30/12/2016 12:49

5p distribution today and in my account. No mention of more to come but unless something has gone wrong I am anticipating a further 8p or so. Anyone know different?

[hnj] 28/12/2016 19:09

Thank you very much alan@bj and Zimbtrader - I did not read the date of the letter you posted earlier, alan@bj. I have received the last payment of 4p. Also, thank you, alan@bj, for keeping us posted of developments.

[zimbtrader] 21/12/2016 18:29

Divi 1 - 163p paid in mid January
Divi 2 - 8p paid in early March
Divi 3 - 4p paid in late September

We should be expecting further payments of up to 9p if I am not wrong (not got the exact numbers to hand).

* By Divi I meant "return of capital"

[alan@bj] 21/12/2016 17:59

4p was paid in September - mine arrived on the 26th. I think that was the third, but haven't double-checked.

[hnj] 21/12/2016 13:23

Hello, am I right to assume that the third interim distribution of 4p has not yet been paid?

[alan@bj] 19/12/2016 14:25

Fair comment, dhl. Anyway, hopefully not too long to wait now.

[dhlindy1] 19/12/2016 13:47

Thanks Alan,

My beef with liquidators is that in a world of web based communication they could and should establish a site for each of their liquidation companies and post this information so that we pi's did not have to keep contacting them for updates.

Minimal cost and everyones better informed and happier.

[alan@bj] 19/12/2016 13:35

You shouldn't blame the liquidators, they're not really in a position to demand HMRC pull their fingers out. I think they've acted very professionally. Coincidentally I emailed them earlier, and have received the following reply:-
"I am pleased to confirm that a further distribution and update to shareholders will be provided in the next few weeks. We are waiting for the Company’s registrars to confirm how soon they are able to issue the distribution which has been approved by the Joint Liquidators and as such I am unable to give a specific date at present."

[zimbtrader] 19/12/2016 13:10

These things do take time but this does seem a BIT excessive!

[dhlindy1] 19/12/2016 11:43

Three months on from the liquidators letter and still no progress. Disappointing not to have this wound up before the year end.

[dhlindy1] 19/12/2016 11:42

Three months on from the liquidators and still no progress. Disappointing not to have this would up before the year end.

[alan@bj] 22/11/2016 16:05

This is an extract from the liquidator's letter dated 19th September:-
"I can confirm recent receipt of Company funds which were being held in ESCROW relating to the sale of the Company’s subsidiary Pure Wafer Inc. As such I intend to make a third interim distribution to shareholders within the next five business days and I expect the distribution to be 4p per share.
This will bring total distributions in the liquidation to date to 175p per share. You might recall that in the Circular dated 11 December 2015, the board of directors anticipated that the Joint Liquidators will make a total distributions of up to 188 pence per share and I am pleased to confirm that it is still anticipated that total distributions by the conclusion of the liquidation should be on or around 188 pence and more details in relation to factors which affect this appear below.
Outstanding matters
We are in protracted correspondence with HM Revenue & Customs (‘HMRC’) regarding the agreement of the Company’s tax position and specifically in relation to the Corporation Tax return for the period ending 6 January 2016.
We are seeking confirmation from HMRC that they will not be raising any enquiries in relation to the tax return. I am seeking this confirmation because the Company applied substantial shareholding exemption in relation to the sale of its former subsidiary and whilst I am satisfied that the exemption should apply, the legislation in relation to the exemption is complex and a number of conditions must be satisfied in order for the exemption to apply. Should HMRC disagree with the use of the exemption,
Corporation Tax would be payable on the sale of the subsidiary and so I am continuing to retain a provision in this regard. Please note that this is a provision only and I hope that tax clearance should be
obtained soon and I will be able to release this provision and distribute sums retained to shareholders in accordance with the circular in due course.
My request has recently been escalated to a specialist team within HMRC and as such I hope the position will be clarified in the near future, however, the timing and amount of distributions do rely on their response. If possible this distribution will be combined with other future distributions in the interests of efficiency, but this will be reviewed to ensure that the Joint Liquidators continue to act in the best interests of shareholders.
The other key outstanding issue in the liquidation at present relates to a dilapidations claim made against the Company in relation to one of its former premises. We are in correspondence with the landlord and their advisors in order to reach a full and final settlement in relation to the claim. However,
this is taking longer than was expected. We are reviewing the position and exploring options in order to get the matter resolved as soon as possible."

[puffintickler] 22/11/2016 15:56

There will be. But everything must be 100% sorted before to is made.

[meijiman] 22/11/2016 10:43

Think there is a further final payment when the outstanding tax issues are sorted out.

[zimbtrader] 04/10/2016 16:40

Equiniti funds arrived on 29 Sept. No letter, no details of the payment. I'd move from them if I didn't have concerns they'd screw that up!

[puffintickler] 04/10/2016 16:31

My lot received a cheque, not cleared yet so not in my account.

[alan@bj] 04/10/2016 09:16

Same here - I use TDDI and have heard nothing from them apart from the bland notification that they'd received the 4p dividend.

[meijiman] 04/10/2016 09:03

I have to assume that Equiniti got the letter but no one was at home to read it....

[eezymunny] 04/10/2016 08:55

Yes, thanks. What an excellent letter. If only company directors could pen with such clarity :)

[cockerhoop] 04/10/2016 08:53

Appreciated Alan.