The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
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. 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.
4 months ago Glen purchased a very sizable purchase in Amigo and now he is back to becoming CEO in a few weeks.
In terms of recent announcements this is big, he is coming back to take care of his investment and boost the value, I would expect major changes within Amigo.
https://simplywall.st/stocks/gb/diversified-financials/lse-amgo/amigo-holdings-shares/news/trade-alert-glen-crawford-at-amigo-holdings-plc-lonamgo-has-just-spent-uk1-2m-buying-shares/amp/
That is very interesting indeed. At the time of the purchase he was out of the company completely wasn't he?
Yes, the share purchase was on the 3rd of March and he came back as a consultant on the 6th of March. Those were the dates of the RNS.
He clearly believed the sale price would be higher than 38 pence. So now we have JB and Glen, two people who know the business inside out and value the business far higher than the offer price and we are currently sitting at 10pence.
Interesting times ahead !!
I see a few changes on marketscreener.com:
MIC Capital Partners ~ 37,248,432 (7.84%)
Majedie Asset Management ltd ~ previously 4,864,184 (1.02) now not on the top shareholders list
Could someone see this and if possible explain how MIC Captial (not public) have increased their shares without triggering TR1?
I just checked and it had them at 8.04%
Mark - i see the confusion that's why Im uploading this image for you guys to see (taken 4-5 days ago):
https://ibb.co/f4DMHfw
Please could someone clear how this is possible
I can’t seem to find the significant shareholder page on amigos investors website?
I might be imagining it but I’m Sure I have seen it before
It’s game - its at the bottom, in the small print menu
Thanks
Did anyone manage to look at the increase of Mic? Isn't this a big deal? Shouldn't it have triggered a TR1
Cars geek I would have thought so how much have they gone up 1% ??????
As far as I can see using the marketscreener site. They know have 7.84%
They previously had 8.04% under MIC Captial Partners (Public) (US) IM LLC
The increase totals to 15.88% so I'm quite unsure why noones talking about this
My Gut says it’s being bought up, By who? who knows, I strongly think glen will be buying as soon as he can, maybe even double down.
His current share sales aside, I don’t think JB is done here.
I’m thinking the same!
But I did similar once before
.... it didn’t end well
But I’m still considering it here!
My sensibilty tells me this:
MIC had been holding 8.04% previously
MIC now hold 15.88% under to separate entities
7.84 ~ if this is JBs hidden vehicle and he already has 45% approx then he is still majority shareholder.
If we don't get a TR1 on Monday then I will need to research how this is possible unless someone who knows the market and company rulings in-depth should it not trigger a TR1.
Just to be cautious this company could just be an investment company (based in Abu dhabi) punting just like us.
Any additions to above would be most helpful to us all :)
itisagame, they shouldn’t face a problem in paying compensations. Amigo already put aside around £35m from cancelling last quarter’s dividend and they are making minimum of £21m a month profit so imo worse case scenario £35m + £21mx3(Min. profit from Q1)= £98m which is way more that enough to pay for all compensations.
carsgeek, I’d suggest to drop IR an email & ask for clarification
thats what i have done, i had a few other stocks go up last week that i wanted to secure the profit from and its all ended up here on the drop.
I have different targets for different batches, some for trading and aim to keep atleast 100k shares for longer haul.
Im pretty confident that it will be 20p+ by year end, If it drops from here i might buy a few more but im not to fussed because i got in heavily at 5-7p.
I couldn't recommend it but to me its pretty binary at this price.
If they are a foreign entity then is it not 5% before it’s reportable and within 72hours ? I could have that wrong but it would depend when they crossed any threshold TR1 might be pending?
In that case it would definitely be at least friday gone and if 72 hours then we say 3 working days.
If no RNS in 3 working days then I will contact investors@amigo.me
If they sell by then (no longer holding that amount) then I might sell as well as these games are too much and something fishy is going on. I don't like gambling and this is pushing towards gambling as I haven't seen such a murky stock before, if JB lived closer I would've beaten his ass by now
Itsagame. If you want to make serious money it seems to me you have to concentrate your fire. Diverse portfolios are fine once you’ve cracked it and want to protect what you have but getting there .... I think we need to be brave sometimes I’m leaning heavily towards liquidating my others shares into cash and as you looking to take advantage of any drop.
E_AL - cash flow wise im not worried, i expect them toget through it, worse case its a cash raise / bonds sale to get past the whole situation and back to normal, lending in an FCA approved way.
pretty happy that they have been loaning less the last few months, kind of puts an end date to the disputed claims assuming when they restart its all FCA approved.
Carsgeek, contact Kate, head of IR: kate.patrick @ amigo. me
I emailed her last week with a couple of questions but she said the company is in a close period prior to releasing results so they are limited in what they can say or do during this period.