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Hope so Cando, Hope it works out for everyone, including the company itself. The scaremongering is BS. We have the Founder who wants in and is tweeting like it is going out of fashion. He means well, and I expect regular RNS once he is in at AMGO.
Not sure that’s good really. As people may default and lose hope of staying above water. I reduced my risk here as found another one same sector. So split holding. But the next few weeks will be nail in the coffin or the flower in bloom. IMO. That means absolutely nothing. Gla amigos.
Morning Chums Busy day today for me so I will be AWOL - have a good one and don't sweat it!!!! Figgy - keep stirring . It's this time in 2 weeks time that matters - not now. These prices will bounce around like this for the next few working days no matter who is causing it.
Figtreehappy HL you can just send them a email they are pretty good and very quick under each just put agree or disagree. I actually don’t know the cut off date as done mine when it came up. I think it’s 5 days before but don’t quote me on this All I know for sure is if Jb doesn’t get in then he will walk and leave it alone but I’m pretty sure he has made arrangements through selling his shares to get to this stage that he won’t lose and glen will be at his side It’s been a long time coming and the share price has reflected this to much in my opinion but only one week left to go and all will be sorted finally one way or another
And I can’t believe I missed 1 very important fact that I never even thought off and it is a major Fact
If amigo can lend to key workers with FCA approval through covid and there lending strategy mush of changed to lend to them so claims can’t be done The FCA can’t really stop them again lending to the public otherwise what they going to say.
Eurgh ‘sprints’. Brings back bad memories of doing user acceptance testing on risk management software. Followed by contractual arguments with the company doing the work. All good now, and leading edge stuff, but it was an irksome process!
Cando, What is the AMGO SHARE HOLDERS “cut off date: in order for votes to count please? I.e you have to be holding the shares on a certain date. That will explain many things It should be on RNS - but it is not. Do you know? Else I will call HL later today. Sellers were likely not holding to vote or cfd’s had to sell positions when it slipped from 13p The rest is MM’s, and plus there is no notable daily volume. Need to see 33-60m again:)
Morning Fig Lets hope the PI's still holding will now see it through to the vote Makes no sense not to now god knows what the outcome will be but at least we'll know who's in charge :) I'll take either of them but both would be my preference
Smus, Morning matey, As per presentation, new systems will be updated, new scorecards wirth some new system changes as part of changemanagement Stakeholder meetings. This is standard, turnaround for new software updates can be every 2/4 weeks depending on sprints / agile methodilogy plus testing it. Systems Go live with new code implementation is likely before standard xmas no live cutoff date. In AMGO’s case a month before Xmas would be better as “lending” is business critical. This is all standard, we’ll know soon enough.
That is so true If amigo are lending to key workers and have been through covid the FCA can’t stop them lending again to the public otherwise they will look totally ridiculous and that would hit the news I actually never thought of that “face palm” That’s a really good post
You have to think there would be a set lending criteria in place NOW that the FCA are happy with or they would look totally ridiculous asking Amigo to lend to key workers. I'm sure they wouldn't want ANOTHER scandal especially with NHS staff and others that are so admired right now. This in mind how can FCA say no if Amigo reopends lending?And they are advertising for this role. Imagine-FCA rule all loans they asked to be supplied to key workers were unfair !??? Wish list JB in with GC FCA approved lending to general public with agreed lending criteria as key workers Organised and agreed debt repayment Claims adverts gone Amigo adverts back
We can only hope. I’ve heard it’s going to reach 20p for that last few months on this board. Just going to take it as it comes because it’s so volatile. I expected a rise this week but it’s quite the opposite. So we will see
Bod v JB = Sp volatility, no real clear plan at all from Bod to date = lower share price. But the real elephant in the room is and always has been FCA/FOS as no major ii would invest while under this cloud. Short term if after vote JB wins and has clear plan or Gc stays , confirmed CEO and will I believe set out his recovery of business will lead to a quick rise in sp . Until the company can get a minimum principal agreed by FCA lending may not be agreed . If FCA decided to treat Amigo as they had Wonga ( investigation hasn't finished?) Amigo would fold as they would have to compensate everyone who obtained a loan in certain conditions. If Amigo can remove this obstacle possibly by JR ( more delay) the business would again flourish and higher sustained sp would be achieved. Personally I am in and not worried about the short term volatility
That to me would be ideal Twisty. I believe in the future of Amigo. I have voted for the proposals that JB and the Richmond group have proposed and sincerely hope to see JB back and financially invested as I believe he is the visionary that created the concept and can see a future for the company he created so is the right person to oversee its future success. I am holding for long term gains.
Nurse Steve, there's an answer to that question in the link you posted. It says:
Why is there no resolution for JB to be made CEO?
This was not proposed to us by Richmond Group. The resolutions in the Requisition Notice were not identical to those Mr. Benamor posted on social media. We have asked shareholders to vote on everything that we have been asked to propose. We are legally required to do this, and it is what we have done. The appointment of any CEO is ultimately a matter for the Board and will require FCA approval.