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The Oxonica Shareholders‚ Action Group has been formed to represent the interests of private investors in Oxonica PLC
It was announced today that The Oxonica Shareholders‚ Action Group (OXONSAG, www.oxonsag.com) has been formed to represent the interests of private investors who have lost money as a result of an investment in Oxonica PLC.
Oxonica PLC is listed on the Alternative Investment Market (AIM) and it‚s chairman is Richard Farleigh, one of Oxonica's largest investors and a former panelist on BBC TV's Dragon's Den. Other large shareholders include BASF Venture Capital, Foresight Technology VCT, Alavita, Inc & Stagecoach Bus Holdings Limited
About Oxonica Shareholder's Action Group
OXONSAG is particularly concerned about the lack of information given to shareholders over the last two years. This is set out in some detail on their website (www.oxonsag.com) but, briefly, it appears that the shareholders were being encouraged to buy shares in Oxonica despite the fact that a crucial supply agreement with Petrol Ofisi was far from secure and despite the fact that the company was embroiled in a legal dispute with Neuftec Limited, which ended up going to trial in early June 2008.
OXONSAG is open to any shareholder, past or present, who wishes to examine the legal and regulatory routes available to limit and recover the losses that they have suffered.
OXONSAG has been overwhelmed by pledges of support from private shareholders for the idea of forming one group which can act quickly and talk as one.
Our first objective is to collate a group of shareholders (10% minimum) that will call an Extraordinary General Meeting pursuant to sections 303 & 304 of the Companies Act 2006, to discuss the removal of the board and to find a suitable replacement.
Legal Counsel will be announced shortly to explore the various legal & regulatory remedies available to OXONSAG.
For more information, please click here
(PO Box) BM OXONSAG
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