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I think the voting is in the balance however maybe now more in favour of the board. If they can start lending again towards the end of the year so they can sort the FCA issues out then this really will be the biggest turnaround possible for amigo loans JB or no JB. 20p won’t ever be seen again !!!!!!
Moses,
Do you think the voting is going in JB’s way that they have put this FAQ’s out Tonight after COB?
GC resigns BUT still has to serve notice. This Rules override him, unless the Board agrees for another reason. He can work from home if they cant stand each others faces. LOl..
Because of JB we have this BEAUTIFUL share price to load more
Because of JB tweeted GC fight back his role the management as a TEAM
Because of JB decided to sell all his stake and brought down share price, management adhered JB decision not interfere and in DEFENSIVE site.
Because of JB billionaire so wealthy, management not leak any GOOD news to influence the share prices. Let's JB sold in cheap, cheap cheap price.
Because of RESPECTING JB management had to hold back until today after a week JB sold out thoroughly his entire shares then coming out with good news.
Because of so many because, with KINDLY behaviour of JB Amigo share price next week is BOOOOOOOMING.
Maverick12: amigo-saxon king James benamor haha like it....14th oct battle of Hastings but close enough when this rockets..history in the making.
Hi Amjad,
My question:
Did you vote FOR JB? Or AGAINST?
Best bit for me:
“We are in a critical and unprecedented time, any changes to our Board will distract from the business critical issues the whole team at Amigo is working through”
Translated:
We’re really squealing now as we’re ****ing it we might lose our jobs. We’ve tried the fear route and now we’re trying nice words and calling in favours from mates.
Fig agree with you there however Finally the board of directors are promoting good practice best objective delivery to some other issues amigo loans currently faces. If they can start relending by the end of the year we will be looking at a much much higher share price
Should be a big gap higher Monday. JB will have to pull something good out of his hat to get votes now. Not only that the irrevocable buy instruction to buy up to 20p will be no good if the share price is over 20p!!!!
Moses888,
Everything BOD’s are proposng is what JB suggested to them since JANUARY. And what others suggested in the presentation.
These are NOT their ideas or solutions. I bet we have suggested ideas to a bunch of clowns who laughed at you, only days laters, they suggested those same visions/ ideas to their Bosses. Luckily the bosses knew. People like to take the applaud for other peoples suggestions. This is a classic case.
good news at last
For me, we finish the day on a positive after a poor week......Looks like the 10.66 battle begins Monday....
have a great weekend all
FTH
Great post summing up , Moses : the BOD make no mention of reducing scale of complaints going forward by JR . Even though every credit card co and bank in UK is tightening its criteria for lending Amigo is still under the spotlight?? Average credit co charge 30-40% Overdraft fees 39%. But Amigo treated like a leper??
Looks like the share price will do well
Monday! The battle is on.
They’re playing BxxxxxxdsRus basically.
The question is do you believe a word they say? If the same 2 Directors were at the helm over the past 4years Voraj? It is because of them we are at £52m Mcap ffs.
Spot on Vorag....totally agree
Totally agree FTH, the BOD's plan must have been to shake out the weak by dropping the SP and now making threats.....I am pleased to see them fighting back, just maybe the vote is closer than we think.....
my guess significant holders plus ~100m PI. <300m total cast.
Well for me at least they are focusing on the future and turning this business around. With Glen at the helm the share price should recover substantially and we can forget 20p and hopefully focus on more like 80 to £1.20! Well done BOD at long last
So reading between the lines, the BOD have put some calls into Brokers and said, give us a flavour of how people are voting. Then when they’ve shuffled their feet and cleared their throats a bit, the BOD have said, crikey, we’d actually best put something positive out to increase the SP next week and tempt people who had been scared by the drifting price into selling out and giving those votes up. That’s what I’d do if I was them.
That was my point Maverick,
Less voters (especially PI’s) they have a stronger chance to win.
I reckon 400m votes
Last acceptance day for Proxy votes to is Sunday 27th. Reducing sp is a tactic by MM’s incl JPM.
First of all Thanks Moses, now Divide the River.
My takeaways from the Amgo website:
1. In parallel, the Board and the senior management team are focused on recommencing lending, developing the Group’s strategy and seeking out new business opportunities, all with the aim of maintaining and advancing the Group’s position as the leading provider of guarantor loans in the UK. The Board is focused on the future of the business and “is looking forward to engaging with its new and diverse shareholder base” as it commences the next chapter in its development.
Diverse = MIC Shareholder in UAE?
2. The resolution to remove Roger Lovering is unnecessary. Mr Lovering has always stated his intention to step down after an appropriate handover period, once Jonathan Roe has received regulatory approval for his role
Roger Lovering is leaving.
3. Results of AGM Vote - Same day 11.30am.
4. We welcome the recent announcement by the FCA of a review into the future regulation of the unsecured credit market (found here). The wording used by the FCA reflects the thoughts of Amigo as they will ‘concentrate on how regulation can better support a healthy unsecured lending market’. We also agree with Chris Woolard, who will chair the Review, that “access to sustainable credit is of great importance to so many people
This is VERY GOOD news for AMIGO
Right place right time. It is almost a calling.
5. Judicial Review
We have said, most recently at our Q1 results in August, and before then with our Full Year results in July, that we retain the option of judicially reviewing decisions by the FOS that we believe are wrong. In the first instance, we are working with the FOS to understand the standards they are applying and challenging these outcomes where necessary.
6. Bond Repurchasing
We have said that we will from time to time make opportunistic open market repurchases of our outstanding high yield senior secured notes outside of a close period. We will update the market with any repurchases that have been made over the period with our half year results in November.
7. Lending to restart by end of 2020.
Why is the SP being kept low ?
----- less holders, less voters ------
If the BOD puts off potential buyers by causing uncertainty, they reduce the number of votes against them.....
#AMGO
Is the start of the fight back...after taking the SP down to shake out weak holders....
https://amigoplc.com/investors/important-announcement
Is this the start of the fight back....
Well written. Bod hit back !
Just read it, surely its too little too late ?
but positive all the same...