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thanks Honewood, much appreciated.
The time and expense to do a debt for equity swap has passed at least for now. Issuing share capital is expensive and takes time which the bondholders know we don t have. They know they are better off turning the business around. I perosnally think the equity JPM and Bybrook has will get.converted into debt for lending capital. This eon t dilute us either. Again taking the firm private right now is a nonsense. This takes time and we re fighting more.important wars right now. SoA and relending.will happen before corporate activity IMO.
ahh okay no worries just would be interesting to know if its JPM because someone posted about a long history between JPM and Amigo the other day, and it would make sense for them to build a stake if that is the case.
I can't remember LTH
It was talked about on here a few times along with the secured notes due in 2024. But hasn't really been mentioned since SOA RNS
Seamus do you know who provides the secure notes to Amigo?
"The Group is financed from a combination of cash generated from operations, senior secured notes of £234.1m with a 7.625% coupon and a securitisation facility of £250m. On 27 November 2020, an extension to the previously agreed waiver period on asset performance triggers for the securitisation facility was confirmed to 25 June 2021, allowing both Amigo and its lenders the opportunity to fully understand the impact of Covid-19 on the business whilst maintaining the facility."
That paragraph of the Q3 results also answers Shotwick who says they must be in breach of the debt covenants.
GJ is at Amigo to turn it around as he has done three times before
Taking it off market (not that I think they could) and screwing shareholders isn't a turnaround
Do new investors here know Amigo entered into a Vreg with FCA last year and to my knowledge that still stands
If they took it off market is there a risk they could walk the price right down and do that? That gives me concern that they'd only offer say 5p per share which will cause massive losses to pi's. I ask as this is the sort of thing that happens to me!
So Bybrook could provide the capital to take it off market and JP Morgan the warehouse facility for it to start lending again.If there is so much upside which there is...Without the complaints this is a sub prime yield of 40% costs of 5% bad debt of 10% so 25% profit if the warehouse facility was lending at 80% that’s 5 to 1 on 25% return or 125%.VCs and hedge funds take note this is the best kept secret and has already made JB very wealthy its just about to make GJ even richer !
That’s if they have any funding lines in place.They would need them if they were to start lending again.So the other possibility is these investors are the new founders for any new lending.The % they have is small beer to these lenders.
Do you know who holds the funding lines / warehouse facilities.Effectively there will be a funding source and that funding source will allow Amigo to utilise let’s say 80% of any debt and 20% of capital.However with the complaints coming thick and fast that 20% would of eroded sometime ago so a bank or funder will be exposed for 100% of their warehouse facility ! If they are in breach of any covenants which I think they must have been I wonder if these banks with funding lines are the banks that are buying stakes...If I had £100M exposure I guess taking a few shares control is a way of de risking it somewhat.I’m surprised they don’t have someone on the board !
Keep asking myself that too. And keep topping up also
Already asked myself that trufflehound :)
That’s why I’ve added on the way up :)
Sorry one American, one British.
I fully agree and I am waiting for more occasion s when SP will fall significantly for me to load up much more.
The question I would be asking is, ..why would
two American companies take a 13% stake in a
crisis hit British company. To all the nervous
shareholders worrying about votes and insolvency,
ask yourself that question, we are amateurs, they are
professionals, and yet they invest large in a company
which some on here are predicting to go bust, it doesn`t
make sense, Two senarios, one is a recovery play, the
other is a takeover, these guys are experts in their field,
they don`t invest on a whim, you know the saying
"follow the money", if it`s good enough for them,
why are some on here are having a fit of the vapours,
grunt up!
Couldn’t agree more
I remember reading once.. the stock market is just a tool to transfer money from the impatient to the patient
Fingers crossed
We are simply going to see the sp manipulated to suit the demands of the MM’s and II’s whilst we are nearing the court date. This was let go to test retail demand and when it neared the 20 mark pulled back as the II did not want to load up at that level. It happens constantly. The II taking positions know what they are doing, they play this ‘game’ regularly as do the MM. Granted we are in an extraordinary situation right now, however, this will pass, the II will have taken their controlling share to nearer 10%, maybe more, and the retail investor will have been taken for a right rollercoaster ride.
It’s up to you all what you do, sliding the SP all week, big shakes, taking stocks from the fearful, letting it back up again, FOMO, fear of losing it all, we are fickle people, they know that.
This will either be taken out in it’s entirety by JP or ‘partnered’ either way, it will survive and it will lend again, in one guise or another.
Apologies for rambling, anyway, let the game play out! I first bought at 6.25, added at 8.99 and 9.00 in the first wave up, took more at 14. I’m a happy chap, I see 20p, 50p and £1 on the horizon, let’s see eh!