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“ Previous “ .... Hmm .... Changes coming then ?! :)
This resonates with me:
JB’s Key point..
“Amigo’s previous policy was to refund almost all complaints irrespective of whether they were top ups or new loans”
Hmm a number of tweets by James tonight...
JB:
Of course none of this really changes anything for amigo, which hasn’t been lending for several months. Amigo’s previous policy was to refund almost all complaints irrespective of whether they were top ups or new loans.
City of London faces messy future with the EU (access to financial markets): http://reut.rs/2DCVvZK
This doesn't affect us because our foreign activity (Ireland) is via separate legal entity, right?
James Benamor:
The FCA announcement on re-lending?
Broadly I would agree that firms should be careful with affordability testing for ‘top up’ loans. Amigo applied more stringent affordability checks to top ups than new loans.
Amigo always took extra precautions on top ups, and even our basic affordability checks were way more thorough than anything I’ve ever seen at any lender.
let's all sue our banks they fecking take our interest for all the mortgage/loans we have... let's sue our gov for help to buy scheme with fecking 5% deposit... now peeps can't even afford to pay the fecking interest when they lose their jobs... mnnn is that right.... one sec... can you really do that... or you will get a slap on the face when u tell ur bank or gov.... with any failed payment they will give u a big X on ur file and through u into a dark hole u can never see the light....
I've never known anything like it. You lie on a form take out a loan say you can't afford it or should not of been given a loan and you get all interest back plus 8 percent
'Are all of your 32170 posts copy and pastes of old info?'
Subset, do any of your 33 posts contain any information?
GC now on board as CEO the bod is gradually changing as other jump before they are pushed. JB will be back on the bod before long. He has lots of dry powder to start buying stock back also. Watch this space it should be a good hold overall. Gla.
Let's hope they can play this "...elephants in the room..." card right during JR.
27th July JB tweeted.
Glen is buying, not selling in the next 30 days. He won’t be unhappy if the price continues to fall. Quite the opposite.
The lower the price drops, the more he will want to invest. The more he invests, the more aligned he will be. The more aligned he is, the better the result.
https://twitter.com/jamesbenamor/status/1287839210666373125?s=21
We’ve gone from a situation where 90% of voting shareholders were pro the old board, to one where the majority are aligned behind my vision. As of the 1st I believe the majority of the board will also be aligned.
We’re getting closer to full alignment every day.
https://twitter.com/jamesbenamor/status/1287835903550005251?s=21
JB tweet
We can’t compare amigo to Wonga or sunny amigo is it’s own company the FCA are not around to actually close any business and as we are at the moment with Covid 19 you really think they want to put the whole of the amigo workforce into more unemployment. They will work with amigo and things to get a loan may be a lot tighter but all said and done if people are applying for amigo loans and are not lying on there applications then this shouldn’t really affect the overall business and lending will restart. The FCA are there to help put things right not make 1’000s unemployed amigo has set aside money and still have millions in income each month. But they are not Wonga or sunny they are there own company
Note GC is a Supreme Court solicitor and works closely with the fca so he would not take the role of CEO of amigo at this time and would not be increasing his holding if he considered it a risk.
Also note that without JB selling off his position, the bod that he wanted to change would remain in position as they would always be able to outvote him. JB has no choice but to sell off his position in order to get his way.
Are we Or are we not in a closed period Given results due end of month?
Was that why glen purchased before he officially restarted ?
JB is a problem. All well and good to say we're all here for the same thing. But is the FCA? Is the High Court? Neither JB or GC have regulatory/ legal superpowers... in f act, JB's blogs and tweets and irevoccable promise of selling to zero and truggering more board votes bring unwelcome attention which screws the SP.
This High Court outcome against Sunny (which has already gone bust) and the FCA report are big setbacks imo.GC will need to think pretty carefully about these before he launches any JR so I don't expect that news to be imminent. And if he does press that button, these reports make success less likely. Court case may also mean AMigo application process needs attention, potentially delaying lending restarting.
That said, I'm actually very encouraged that the SP is relatively stable today. Could've been a lot worse.
I have suggested previously that despite having been ill GC hasn't got much choice but to take the opportunity. Good he has topped up, but the vast bulk of shares he would have been awarded from the IPO. He cannot vest them until next year and they are currently worth sweet FA compared to where they were. That must be soul destroying to have had a big pot go south like that and I'm sure his motivation to fix this is sky high!!!
Candoo, just for clarity GC bought around 6.6milion shares additionally as reported last week. He now holds over 28.5million shares.
Hold onto your hats boys not long now
Wise words once said "the stock market is transfer of wealth from the inpatient to the patient"
Just remember all. And sorry if there are some silly words pop up as doing this on my phone
There has been a lot of issues including jb selling 1% everyday and this is close to ending now
Glen is now in and on companies house things are changing a lot with the BOD
Glen bought 1/2 million shares last week to bump him up more to 6%
He is in his field the top of what he does
Why would you put little RNS out when you can just drop a huge Bomb RNS
There singing now from the same hymn sheet
The one that is the most significant one for me is that if things was that bad in anyway behind closed doors I wouldn’t take the CEO job as this would affect his career and I definitely would not of bought 1/2 million shares
Jb has sold a huge amount of shares over the last month. We’re do you think these are really going. Do you think he would really turn down 21p a share and because he has a mardy he would lose millions and millions selling at 8p think about it... he is a business man that’s made millions you think he is going to roll over and lose this amount of money. GLA but she has been a ride of a lifetime and when everything does come to light it’s going to be like a game of cludo who did what
Some people call it balls of steal some call it opportunity. There is just the one called patience remember that one as this is the one that will be the key. Ramping and de ramping will do nothing to a share price. The changes are being done and we all know that’s been here a long time they needed doing and them all singing from the same hymn sheet will work and yes I do believe she will turn and when she does this will be stronger than ever. There will only be 2 outcomes
Typo’s....sorry.
Correct if it were not for JB selling down in June, WE would not own individual high holdings of this stock as PI’s, very true. Good point. Ok I’m done.
- Correct if it were not for JB selling down in June, WE would know own high holdings of this stock, very true. Good point.
Correct if it were not his selling, we would know own high holdings of this stock, very true. Good point.