class action answers, page-9

I asked the question before socrates (to slater and gordon) - i think youve asked the right question (first Q) but to the wrong person. How do you expect OZL(the defendant who claims no wrongdoing) is going to answer the question of "why should we claim?" - A from ozl is and should be: DONT CLAIM

this is my question the other day to SGH - hope it helps answer your question
re: OZL Class action
There has been quite a few questions and confusion amongst shareholders. Our questions are as follows:
1. Can shareholders still make a claim if you have not sold shares bought since Oxiana days? After all, no loss has been realised until they have been sold.
2. Can option holders of OZL within the specified period make a claim (options expired worthless during the trading halt)
3. If shareholders bought at a price lower than the current price (hence profitable) - does it make sense filing a claim?

Thank you in advance.

this is the response from S&G

Thank you for your enquiry.
As per our discussion a few minutes ago, I respond to your questions in writing:
Q1: Can shareholders still make a claim if you have not sold shares bought since Oxiana days? After all, no loss has been realised until they have been sold.
A1: Yes they can still make a claim. Losses can exist prior to the sale of shares in circumstances where they were purchased in a period of price inflation due to non disclosure. By way of example, say you purchased shares worth $1 for $1.50 because OZ Minerals withheld certain material information from the market. Your loss is $0.50. Whether you later sell at a loss or gain is irrelevant.

Q2. Can option holders of OZL within the specified period make a claim (options expired worthless during the trading halt)
A2: No, only underlying purchasers of Oxiana or OZ Minerals can make a claim.

Q3. If shareholders bought at a price lower than the current price (hence profitable) - does it make sense filing a claim?
A3: Yes. As discussed above, damages are determined by the amount an investor overpaid for their shares in a market characterised by incomplete information.
Feel free to call me if you have further questions.
Yours faithfully,
Milan Cakic
Lawyer, Slater & Gordon Lawyers