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Saturday marks 4 months since court said no to soa1. Not an inconsiderable amount of time and we still have nothing in regards to a workable alternative. Thankfully Gary done a video in which we were told how great amigo mk2 will be.. The AGM next week will either be enlightening or unbelievably boring.
itsa - Blue - HH - Stevie Evening fellas - you lot still have balls of steel!!!! I'm still watching and waiting but it's not good to see another 2 lenders glug down the plughole!!! I can't call this and can't afford to risk money on uncertainty. I really hope this works out though!!! Best Wishes : )
My guesstimate calculations based on what we were told in the results on how much of the gross loan book is being repaid (with no one left on covid holidays) tell me that they will have enough cash to repay the bonds, bond early settlement fees and put the initial float in to All Scheme for claims by Xmas.
Once the bonds are paid the holdings PLC is "safe", everything else is tied to a Ltd company.
That doesn't tell me how much we will potentially be fined by the FCA / potential restrictions put in place, whatever the FOS fees and other costs end up being. Cashflow wise i believe Amigo can work from the old loan book and claimants can potentially receive alot of cash. And if the FCA make it to difficult then given time the PLC will be able to restart under a new subsidiary which yea will no doubt have its own issue but still potentially be the easier route if ALL is unfairly clobbered.
In the end it will come down to things outside of shareholders or the companies control. We just have to wait and see how it plays out.
I agree with you HH on the "good working relationship with the Fca" line that the board have been spouting for almost a year, it's that good they had to delay the year end results at the last minute after their letter that could impact the forward looking projections. Etc.. I don't think there is a relationship with the Fca on anything. Sounds like they post letters to each other once a month and ask how are they getting on..
Bardann the loan book is going down at a rate of knots. Sure there is cash, but what is the point of having that cash if it is just used as a stick to beat the company with. As for being a trader locked in I have been in and out of this share for longer than almost anyone here, doing very nicely overall in the process thankyou. Even if I was underwater I wouldn't be locked in as only an idiot believes in this "it's only a paper loss until you sell" nonsense. If I wanted to exit I would and could but that doesn't mean that we should pretend the board to this point have performed admirably. If they end up rescuing the company and restoring it to a semblance of former heights with shareholders still intact then yes, they can get their plaudits and LTIP rewards then but at the moment some of these numpties, including some who we bought in specifically due to their supposed good working relationships with the FCA are just getting paid a lot for at the moment not a lot.
https://www.slaughterandmay.com/recent-work/international-personal-finance-plc-on-the-update-of-its-debt-issuance-programme/ Personal Finance Investments Limited, IPF International Limited and IPF Digital Group Limited are Guarantors. As part of the update, the Programme has been approved by the UK’s Financial Conduct Authority (as previously) and also the Central Bank of Ireland, in order to allow Notes issued under the Programme to be listed on either the Main Market of the London Stock Exchange, in the case of retail and wholesale offerings in the UK, or on the Regulated Market of Euronext Dublin, in the case of wholesale offerings in the EEA. HSBC is the Arranger for the Programme.
The Programme is one of the first dual-listed corporate debt issuance programmes for which the base prospectus is approved by both an EU regulator and the Financial Conduct Authority under the relevant EU and UK regulatory regimes respectively in the post-Brexit period.
So they meant to fuk up and look daft and poorly prepared in court? They meant to waste millions and millions in extra costs not to mention the opportunity cost of wasting 6 months or more - is that what you are saying?
I hope you are right, but Gary did mess up the first SOA, and they are running out of money, and with George Banco and Trust Two being forced out of business by the UK regulations, it is not a pretty picture.
I don’t know why everyone is getting so inpatient. Would you rather it’s done correctly or go bust Just be a little patient with them. There not on the board to raise the sp so you can sell and go thank god I’ve got my money back. There here so in a few years time there still going strong and that’s what investing is. Investing in the future not short term Relax and just chill
No Bluski.... it's not a farce....... it's a multi-million pound company that's been shafted by CMC's and the FCA..... with a BoD trying hard to save it !! now take a look at the supermarket shelves over the next week or so as they get emptier and emptier due to a lack of CO2 for your salads , meats & fizzy water !!!! a lack of CO2 for christ's sake... one of the most abundant gases on the planet !!!..... now that's a farce.... ;-) GLA