All is not forgotten - BRR Media Event Peter Earl CEO Rurelec Update on Placing & Publication of Disclosures (with apologises)

BRR Media Event Peter Earl CEO Rurelec Update on Placing

The placing and basis for the transaction although justified, in part, is somewhat contradictory had RUR waited around two months I have to question where the Share Price will be...the view being that paying in shares for IPC and turbines in essence could mean it cost more to complete this placing sooner rather than later. This will be revisited in due course to cover all the documents and the placing.

Update in in due course on the publication of recent documents Guaracachi America, Inc. (U.S.A.) and 2. Rurelec Plc (United Kingdom) v. Plurinational State of Bolivia - Disclosures 31st May 2013

Related Party Transactions, Proposed Acquisitions & Placing It clearly states "The final hearing concluded in April and an announcement of the compensation due to be awarded to  Rurelec is due to be announced in the coming months with payment expected to be made later this year." So why complete a placing and transaction based on the current share price now than wait 60 days, surely the transaction would have been more shareholder advantageous had it waited at least till after the decision 'in the coming months?' As there appears no current pricing for the settlement with Bolivia in the current price...

Another Source of Information/Views - Tau Capital

Thanks to D for nudging me sufficiently to post this...

TAU CAPITAL PLC APRIL 2013 MONTHLY REPORT Covering Oxus Plc

Text relating to Oxus: Tau NAV was down 0.78% for the month April. Throughout this past month and into the beginning of May, all remaining Listed Equity positions have been liquidated. The Fund currently holds Oxus Convertible Loan Notes (CLN) and the two Private Equity holdings, Stopharm and Lucent Petroleum, in addition to cash. 

Oxus Gold CLN’s are valued at 22% of face value (around $550,000) for NAV purposes. The company is currently engaged in legal arbitration against the Government of Uzbekistan in respect to the Amantaytau Goldfields. Whereas the ordinary shares of Oxus are traded on the London AIM market, the CLN’s are not traded.

Both the shares and the CLN derive their value from the claim, or rather the probability of success and enforceability of such claim if awarded in the company’s favour. The company has managed to attract 2 specialised litigation funding entities albeit at undisclosed terms. We expect the arbitration process to be resolved over the next 9 months, and in the meantime the Tau Capital Board of Directors will consider any bid for the remaining Oxus CLN’s still held in the Fund portfolio.

As the listed equity portfolio has now been liquidated, Monthly Activity Reports will be published on a quarterly basis from now on. The next Monthly Report will be issued for June 2013. 

ITA Newsletter June, 3rd 2013 (Recently posted materials)

ITA Newsletter June, 3rd 2013

Covering the International Arbitration updates...it would certain pay for people to register.

Indonesia - Protection status for their own companies...

Oil & Gas Procurement: Amendment to PTK-007 Rev. 2

Indonesia being somewhat protectionary about other sectors...thanks to Rich for sending in. In essence, perhaps a better way of doing business than the alleged corruption that has taken place so far with most Foreign Investments being challenged in the process of business.

Some additional items...

As most know, International Arbitration is a slow boil with news sporadic in nature and often rather dull...part of the reason its liked is its hard to get moving without drivers and good for tranche buying over the longer term rather than acquiring positions all at once. 

Some items messaged by the likes of F, R, T, A & D + Others many thanks for passing on...

Uzdaily.com International Arbitration Search one item in this which seems to be questioning the possibilities in the future is Uz Daily Uzbekistan to amend law “On guarantees and measures on protection of rights of foreign investors” Which really is a lot of noise and nothing else...

Protesters in Kyrgyzstan unblock Canadian gold mine, but unrest continues in southern city seems the Government don't have the ability to maintain peaceful trading...perhaps the word lack of control is more pertinent in Kyrgyzstan?...