The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
end of an era
Thanks for these tradeuk – I was hoping that someone might have a direct email address for one of the executives (or else a non-customer services phone number for the corporate headquarters) but if not then those will have to do.
Does anybody have an email address for Gary Jennison (or, for that matter, any of the Board)? Is there a headquarters phone number separate from the usual customer service line etc?
Absolutely right. Amigo gets a usually very unfair press from the ethics brigade in my opinion. They offer a lifeline to people who would not otherwise be able to get credit at all, and the interest rate (while less than ideal) isn’t much worse than many high street equivalents and it’s a lot less than the extortionate Wonga etc. There’s a real need for this product once the short term uncertainty clears up.
Why all the hype over this? Obviously I'm pleased and it's encouraging, but £50k (0.1% of the company) is not all that significant in the scheme of things and surely it isn't at all unusual for an incoming Chief Executive to buy shares so that they have an incentive.
Actually, this isn’t AIM — one of the weird things about this share is that it’s behaving like an AIM stock even though it’s listed on the main/senior market of the exchange. The current levels of volatility are absolutely ridiculous.
The last non-Richmond TR1 I can find is from a Cayman Islands fund in February (https://www.investegate . co . uk/amigo-holdings-plc--amgo-/rns/holding-s--in-company/202002130816108961C/) who made a small purchase taking them above 6%, but I didn't see anything since. Richiescott makes an interesting suggestion but I just don't know.
My understanding (e.g. from Allen & Overy https://www.aosphere.com/aos/shareholding-disclosure-united-kingdom-summary) is that 3% is the magic number at which any potential suitor would have to reveal themselves. So I think that implies that the suggestion which some others have made that somebody is hoovering up a large portion of JB's stock is perhaps not credible. But of course it could be possible that there is a suitor that is buying slowly and that it may just be a matter of time before we know.
Just to repeat my earlier question -- I'm pretty sure (but please correct me) that any buyer is required to file a TR1 via RNS as soon as they reach a 3% shareholding. So if someone is buying up large amounts of stock (e.g. JB's daily 1%) then surely we would know their identity by now?
New to this board and haven't posted before, but I've been following the discussion for a while as a fellow holder. I'm just wondering if anyone knows the procedure for these sorts of potential takeover situations? I know that a buyer doesn't have to make an offer until they have 30%, but isn't the threshold for filing a TR1 notification 3%? So if there is someone buying up JB's 1% each day, wouldn't they have had to file a TR1 by now? Thanks.