London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East and have access to Premium Chat. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
EM88, why are you still here spouting on about NSF. Why not just go on NSF board and talk there. If you reinvest in Amigo then come back. Personally I think you have jumped out of the frying pan directly into the fire. Your decision so live with it but I doubt anyone really wants to hear about it on this board. Good luck with it but please change the subject either talk about Amigo with a balanced view orvtoddle off to the NSF board to **** Amigo off and feel good about your new investment.
Thanks Mark_rs will take a listen. But they did say they “If the scheme does not proceed, the high level of complaints could mean that Amigo becomes insolvent,”. And we know that complaints from Amigo are still rising by these Bastard claim Sharks, their complaints are leading in the industry.
Have a listen to the webcast... they clearly state that even if the scheme isn’t approved (which they don’t believe it will) they have sufficient liquidity and will carry on lending
It’s an hour long... but very valuable to actually see what’s going on
Cheers Bustegonads56, I still think Amigo will come through personally, but at this moment I have chosen to sell and buy NSF. I understand a big raise is due, but not until Q2, and I cant imagine their biggest Shareholder will negotiate a price at this level or below as would place them in a disadvantage as well. In addition complaints are at much lower data compared to Amigo which is still rising and as much and people think this placing is a risk, we forget that amigo had warned of solvency if the FAC do not pass the redress scheme, which to me doesnt get more risky than that and is a bigger gamble. What ever you choose to do, wish you all the luck and hope it work out, but I'm happy with my gains from 9.9p Hold.
Nsf have openly said they need to raise funds. They couldnt raise sub 5p now they can. Any placing will be large if and when it comes, the only question is when they do it and at what price. There largest share holder is probably the only reason its not already been done as they would be seriously diluted at the current price. Read the rns,s.
Its very risky imo but may also have good rewards if you like a gamble (or big losses) . Just only bet what you can afford to loose.
Thanks for you response EM88.
We all see things slightly differently therefore it wouldn't be a switch for me to make as I cant see the reduced risk however as an addition maybe.
As I said GL with the move and I hope it gives you a nice little return.
Less risk????? Give over:-::::::-)
Alchemy, the group's largest shareholder, who was supportive of the proposed capital raise, has confirmed that it remains supportive of providing further capital to the group and is engaging with the board in this regard.
I Personally think comparing both AMGO to NSF, Currently NSF has less risk and has more room to double up pass 10p+ value over the next month prior the Capital Raise.
''Guarantor loans - Following the FCA's review of the Group's guarantor loans division as part of a wider review of the guarantor loan sector, resulting in a £16m provision for redress announced in our 2020 half year results, lending volumes were minimal in the second half of 2020. Economically, the younger customer base has been harder hit by the pandemic than our other two divisions and calls on guarantors have been constrained due to the pandemic, resulting in a marked increase in impairment. Collections nevertheless remained robust during the second half of 2020 with the result that the net loan book reduced by c.40% versus the prior year. We are working hard on the redress methodology and hope to have concluded the process with the FCA early in the second quarter.
Group - Branch-based lending and home credit delivered a solid trading performance during the second half of 2020 in what were extremely challenging circumstances and overall, the Group's combined net loan book declined by c.27% versus the previous year.
Liquidity and funding
The Group has continued to operate within its financial covenants. The combination of lower levels of lending with a solid collections performance meant that as at 31 December, 2020 cash at bank had increased to £78m and gross borrowings were £330m.
The Group now needs to strengthen the balance sheet by raising sufficient new equity capital to support future growth, avoid future covenant breaches and to address the material uncertainties regarding going concern. The Board has therefore commenced work on a substantial capital raise with the support of Alchemy, its largest shareholder with a view to completing this in the second quarter of 2021. Once completed, the Group will be in a strong position to take advantage of what it believes to be an exceptional market opportunity in the non-standard sector.''
AS you can see re the capital raise - its not till Q2 and their working with their Largest share holder to do this. I doubt they will take anything below 10p Given their recovery. This was in its 20s Pre Covid, unline AMGO still in the same Boat. Apart from few TR1s
Tue, 23rd Feb 2021 07:00
RNS Number : 9602P
Non-Standard Finance PLC
23 February 2021
Non-Standard Finance plc
('NSF', the 'Company' or the 'Group')
23 February 2021
The Board of Non-Standard Finance has this morning issued the following trading update. The audit of our 2020 results is now underway and the information given below is unaudited, pending the completion of the audit process.
Branch-based lending - Whilst there was a strong pick-up in loan volume during August, September and October 2020 with new cash issued running at c.£10 million per month that stabilised the loan book, the subsequent tiered lockdowns, which were particularly severe in our customer heartland, reduced lending volumes in November and December. As a result, the net loan book at 31 December 2020 was c.20% lower than at the end of 2019. Whilst a consequence of the COVID-19 pandemic has been a significant increase in impairment and provisions, it has been most encouraging that the loans written since the start of the pandemic have performed better than our historical average and in the second half of 2020 we also saw an improvement in the collection performance of the COVID-flagged book. This robust performance of new lending illustrates the strength of our face-to-face lending model and augurs well for a return to strong sector growth once the economy begins to open up again.
Home credit - Loans at Home also experienced a significant uplift in loan volume during the second half of 2020 with new cash issued running at c.£5m per month. Although growth in lending volume continued in November and December due to the normal seasonal pattern, this was down by a third versus 2019 as a result of the tiered lockdowns and the closure of retail in December 2020. Collections improved on the whole loan book in the second half and the number of COVID-19 flagged customers had reduced to less than 1% at the year-end with the result that impairment as a percentage of revenue in 2020 was significantly lower than in 2019. This strong collections performance, in conjunction with lower lending meant that the net loan book ended the year down by a third versus 2019. We expect to see a significant increase in demand once the economy is opened up as our customers resume their normal lifestyle. There may also be opportunities to take advantage of some competitors contracting their business in this sector.
Guarantor loans - Following the FCA's review of the Group's guarantor loans division as part of a wider review of the guarantor loan sector, resulting in a £16m provision for redress announced in our 2020 half year results, lending volumes were minimal in the second half of 2020. Economically, the younger customer base has been harder hit by the pandemic than our other two divisions and calls on guarantors have been constrained due to the pandemic, resulting in a marked increase in impairment. Collections nevertheless remained robust during th
Sorry EM88. I'm really trying to get my head around this one and I cant work out if you're seriously misinformed or just blatantly ramping one and de ramping the other.
(NSF) are in a very similar situation to (AMGO) with however, a quarter of our MCap, no institutional investors buying in and definitely without the level of provision for complaints.
I could understand better if you were buying (NSF) as a portfolio addition.
Anyway. GL with your investment if indeed this is genuine.
Em88 do you know they have to raise equity.. do you know last week it was 3p and you could of bought on a spike gl with that oh and to add no institutional investors will touch it until maybe the placing chow for now
HH, from the frying pan into fire?
Lol. Doesn't NSF have an FCA investigation currently?
Sold amigo stock to buy NSF at these prices, Amigo has still 2 Major obstacles to pass, Court hearing and FCA decision with and no yet hard Trade update unlike NSF. Its a no brainer.
''A NO from the FCA would force Amigo to file for bankruptcy, which is clearly stated in its proposals for the scheme of arrangement to settle outstanding claims. The FCA is still reviewing the proposal, which is why retail investors should exercise caution when investing in Amigo.
Remember that a million-dollar loss to an investment bank or large institution is relatively small, while most retail investors cannot handle such massive losses.
I’d wait for the FCA’s decision before taking a long-term position in Amigo.''