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RE: Delaying tactic on release of financials/SOA2Today 07:43
Morning Stevie , tbh i'm not knowledgeable enough to give you a considered /precise answer , my understanding is as i stated earlier . I guess we will get another indicator today, if there is something brewing
For others, No ramping/deramping is intended by this comment - totally Neutral
RE: Delaying tactic on release of financials/SOA2Mon 18:39
Hi no need for apologies, in my early days i did endorse his strategic vision, had exchanged emails with Amigo on travel of direction, however, i wonder if something went wrong along that road. Whilst it looks good employing new Staff many on high salary, I am concerned that if it went the wrong way ( unthinkable) , these staff would surely be transferred on TUPE grounds so only real losers is us. I might write to them tomorrow and of course they wont confirm any specific point, and no doubt I will be called me a few names by some on here , however , at least my email will be recorded and be used in any Class Action. I hope we never go don't go down this road. GLA
RE: Delaying tactic on release of financials/SOA2Mon 18:08
Usernames I understand your comment. I'm not endorsing anything this management team, they have lots of questions to answer on their strategy . I'm fully aware i was applauding Gary's strategic vision a few months ago. I'm still keeping the faith, however concerned.
If we get bad news, you won't be able to get out at the current price. All the IIs will dump their stocks at "after hours" or pre-market so the price will plummet on opening. Same applies for the upside, the SP may double or triple in no time so it will be equally impossible to get in when positive news are out. I prefer to stay ahead of the curve rather than behind so hopefully, AMGO can strike an agreement.
Tinsel, I share your frustration but this is Amigo after all. I believe if it was bad news they would have announced it, that is what makes me think it is positive news. As I said, any positive news will cause a rise in the sp, which they don't want to happen. I may be wrong but I hope I'm right.
I don’t disagree with that timeline Stevie, but with how things have been, I can’t help but worry that the recent letter from the FCA may contain information that would make me consider bailing out at the current price. I doubt it, but I wouldn’t mind finding out in a timely manner.
It’s fairly obviously that II’s could find out if they wanted to. We’re majority owned by PI’s. It’d be nice if the board acted like that occasionally. There are several posters on here who own more shares than the entire board combined.
Any news that has a sniff of positivity will raise the sp, they really don't want to do that. That's why they aren't telling us anything. I can't see a resumption of lending until late November early December at the earliest. They have to assess and act of the findings of the customer committee, the findings won't come in until the end of August. Those findings will then be structured into SOA2. Then when SOA2 is finally constructed it will go to a customer vote again, that's another month. Then it will have to go to court to be sanctioned, hopefully with a letter of non objection from the FCA this time. I can't see any significant rise in the sp until SOA2 is officially announced. When it is announced I think it will go to 30p again but that could be two months away yet. Sit back and hold. This is just my opinion, I am not encouraging anyone to buy shares or ramping.
After last Thursday it looks like we're back to "as you were mode" here. Not much happening for a while unfortunately. With the statement about back to lending only after a court sanction this is going to take a while here. It's an october/November job me thinks.
RE: Delaying tactic on release of financials/SOA2Sun 21:51
Cardinal59 - I'd ordinarily agree but it wasn't Counsel's idea to put the sword of damocles before creditors. Amigo management took that decision, all by themselves. I suspect that Counsel might suggest the old saying about being unable to polish a certain something might have applied.
Anyway, what's done is done. But let's not big up the Amigo management team until after they've delivered something worth celebrating.
RE: Delaying tactic on release of financials/SOA2Sun 12:25
The situation with Provident is different & certainly won't be setting any precedent!! Provvy have already thrown in the towel and discontinuing their 'door-step' lending business. Since it's other business assets are cleverly ring-fenced the FCA can't touch them and the FCA knows that it's 'big-stick' approach won't work, but as Amigo want to carry on trading then the FCA knows it can flex it's muscles and play hard ball. The situation hasn't changed.... Amigo has to be seen to be "playing fair", get the FCA onside and present an acceptable SoA2. Mr. Jennison knows what needs to be done. Let him get on with it.!! Management manage. Shareholders hold shares. GLA
Delaying tactic on release of financials/SOA2Sun 06:22
Since the high court hearing of provident’s SOA was on Friday. Doesn’t it seem likely that Amigo decided to wait until this had concluded before contributing more information. If the precedent is set one way or the other then it will impact on amigo hugely and therefore amigo will have to modify the tone of its information release based on this, otherwise the SP will show a big swing (in either direction), which will irritate the FCA, Judge. Amigo has to be humble and get to court!