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I think that this will go through as many predict. Even if it there is some minor adjustment (around the amount to provide) the value of the company will be considerably higher (given it will have the green light to lend). I've pumped in another 5k on that risk/reward basis. Good luck all
As a psychologist (and not a businessman), people will often accept things if they believe there is no other option available to them from a more powerful other. The FCA is acting on their behalf against the more powerful other (Amigo) and the judge might agree that they have been effectively coerced "Either you do this deal or you get no money!" If so, they might want to demonstrate there is a 3rd option (i.e. Amigo give more money). Again I don't know if this is legally possible, just thinking about it critically. In case others are wondering, I am invested and contemplating to go in more heavily. The potentially upside in this is huge...risks/rewards.
https://www.moneyexpert.com/news/fca-to-challenge-guarantor-lender-amigo-s-rescue-plans-in-court/
"However, campaigners have objected to a provision in the plan that would allow board directors to earn £7 million in long-term bonuses."
I've seen that figure quoted on several different news outlets - I am assuming it is accurate but happy to be proven wrong.
Why is it ridiculous?
The letter from the FCA to Amigo’s chief executive Gary Jennison states: “The FCA remains concerned that redress creditors will have their claims significantly reduced whilst other stakeholders, such as shareholders, are not being asked to contribute their fair share to enable the firm to stay solvent.”
I don't claim to understand how this might impact upon the legal decision only that the suggestion is that the FCA might pressure the judge and therefore Amigo to re-assess how much money shareholders must put forward. A lot of this negative feelings comes from the fact that the board directors stand to earn £7 million in long-term bonus. I wonder if it will target them, or us - if indeed like you say may be its not possible. Hypothetically it would not make Amigo insolvent though, just impact the SP temporarily. No doubt you will see this as deramping rather than critically questioning because heads in sand seem to be the default position for many.
Me although I sold yesterday when they said they won't have fca decision before May and wish I waited until today. I've been in since oct. My thinking was that sp will drift towards this point. Fca is not 100%. Once 100% ill join at a higher speed and zero risk. I could be wrong will wait and see
Hi - I'm interested in investing in stagecoach. I like the company/management/sp, my only concern is the time it takes to get back to pre-pandemic levels. How many people will they realistically allow back on a bus, a contained area for a long period of time even when most (75%? by end of July) the population have the vaccine ? Lets say they are generous and call it 50% to begin with allowed on the bus and even those must have a green card saying they have had the vaccine? They are still contending with the same operating costs. But at this SP that feels about right so as I say...I am tempted.
Hi all,
I'm trying to research this company to invest. There is something I don't understand: World High Life Plc (US based) acquired Love Hemp in 2020, yet the shares for them "World High Life PLC OTCMKTS: WRHLF" seem to be listed as a separate company. Can someone explain to me how these two companies are connected and why the different listings or how I'm misunderstanding this?
I'm in Arb but I want to know what happens if specific legislation comes out restricting bitcoin and it sinks but other more controlled digital currency is then promoted and becomes higher valued. Are ARB able to change from mining bitcoin/zcash easily?