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Yeah always got one eye on it that last lot I sold at just over 15p but it will rip at some point.
Sorry Arb is a pain Mark..i imagine that will turn. I d deffo stick a.wedge into Amigo. Its not 6p but frankly LT at below 20p its still a multi bagger!!
Franky I’ve bought so many ARB dips it’s not funny anymore! All of my firepower is in ARB I’ve sold pretty much everything else. Still got the Royal Mail that I bought at sub £2. a bit in a fund and some RIOT blockchain in the Freetrade account. G3e (suspended) and mtfb (suspended)
The fund and RMG are gonna get sold this week to free some cash up and some will find itself in AMGO.
I hope you stopped buying the dips on ARB Mark...its got more dips than an Indian Buffet
Excatly Mark..i'm not seeing any vote unless there needs to be an equity dilution to raise funds so we can relend...
Franky without checking I’m not sure if they’ve bought any actual equity. A lot of use of instruments rather than buying actual shares. It does make me wonder but I’m prob being over sensitive to that. The instruments have voting rights attached so what vote do they see coming up in the future they want to be a part of?
Hi guys i literally have minimum experience on trading and i am hoping for this to got to +£1. If there is a potential takeover will it affect the profits of us private investors in any way?
Thanks Franky,, love a typo...
Interesting that Bybrook shorted Arrow and other dept collecting agency’s as they believed the business model to be poor and inflating their expected rates of collections.
Im guessing they are Distressed Debt trading as it seems to fit their business summary ... that involves (cut and paste from somewhere online) purchasing debt obligations which are trading at a distressed level in anticipation of reselling those securities over a relatively short period of time at a higher valuation, generating a trading profit. Funds employing this strategy are generally looking for investment opportunities in which they believe the debt obligations are mispriced and will rebound in value. The holding period on this type of investment is typically short and measured in weeks or even days, which makes this strategy the most liquid in the class.
If it was a no vote then the SP crashes Bybrook can step in and buy cheap shares back at 3-4p and then restructure the debt take over the business etc etc. So why not just wait and why buy now? That doesn't add up. Further, any debt raising is expensive and takes quite a while which is not an option as Amigo and the bondholders don't have the time to do a debt raise without a scheme in place. Maybe they're literall just holding this long term for their fund management side and thats it. Nothing to see beyond.
So busy today, catching up after vacation... Another good day so far but bounced off 18p hard. Will be an interesting finish and perhaps indicate if we can punch through 18p tomorrow. It's only Monday - plenty of time :D
Either way its a nice problem to have....
I think its quite clear with the same amount announced on the same day and when you look at the voting rights of each, its clear JPM is buying for Bybrook and as I say they are real specialists in what they do..its just working out the strategy and how it might affect us smaller holders. I'm sure they want what we have for as cheap as possible. OR what the bond holders have. Or both?!?!
Franky Could Brybook & JPM be misleading us ??? Some have commented - they have a whiff how the result is being played out and that's why they are buying
Flip it over, could it be the Vote is No and they would be prime position as major shareholders to get bits left over and pI get nothing
Just a thought guys & girls
Franky - how do you know that JPM are Bybrook's prime broker? It would certainly make sense, but would be interested to confirm that!
Kie - Quite a few typos but think I followed. Bybrook is the real buyer, JPM are the primer broker and provide the swap instrument. at 16% they are stake building to take advantage of the distressed debt we have with the bond holders. Something like that!
Hi Franky, maybe a bit cheeky of me to pick ur brain here apologies in advance, DYOR and all that.... I’m just interested in the mechanism behind JPM as the broker for Bybrook when TR1 shows JPM purchasing shares and Bybrook TR1 shows purchasing other financial instruments (in this case seems the dept)? Doesn’t this imply then, if rumours are true, that JPM are buying shares then swapping for dept to sell to bybrook who for dept-to-equity swaps would look to convert to shares later? Why would I’m got show JPM buying financial instruments? And also wondering why buying dept would effect the share price, as we have seen upward action of the back of JPM purchasing??
Kie..
Haha Mark! The thing I don't get is that Bybrook look to buy distressed debt namely bonds. They buy it below par, take control of the firm and then refinance it for a tidy profit. So why buy equity?? Perhaps if there is some sort of vote further down the line with a debt for equity swap needed, they have voting power to push this through and can take control of the company that way?
So quick to think the worst of me Franky. : D
Sorry Mark apologies...just seen your other email. Jumpy on the trigger,. hope alls good with you.
It was a speculative offer feeling out the then board and JB said it needed to be 5x that based on simple collect out of the book.
I think Mark knows better than to point to anything from a Motley Fool article? PS Bybrook is using JPM as its Prime Brokerage so now hold 16%+ in Amigo. They are specialists in buying up bonds ahead of debt-for-equity swaps and also specialists at short selling. Not sure therefore how they will plan to profiteer from this but our debts need paying back mid-term and I guess they also have more stock to lend. Something to watch!
So much wrong in my opinion in that article but thought worth sharing regardless the 20.9p was official it was speculative and hidden behind nda
News to me Mark. Motley Fool special article as usual.
Dunno if you guys have seen this “ actively seeking to sell the business”
https://www.fool.co.uk/investing/2021/04/19/will-the-amigo-share-price-recover-in-2021/
Seen various social media posts about the potential of Bybrook is using JPM as Prime Brokerage and provider of Swap.
Saying that in essence JPM have no real interest here at all and are only buying on behalf of Bybrook, who if true now own over 16%.
Mere coincidence that that seem to be buying around/on the same days?
Any thoughts on this suspicion from those with a bit more knowledge on the subject than myself?
Would it be good or bad if true?