Member Info for BareNeccessities

....has this board descended into, seriously?

Still in here and expected a choppy week tbh. Those still in, keep the faith and don't get put off course by the playground spats on here.

No immediate concerns here, and anyone who holds this share for more than 5 mins will be rewarded. We've been this price before several times, but if you're still unsure then get out on the next spike, as there will certainly be one sooner rather than later.

JB clear by Friday, win. JB back buying, win. JB back on the board, win. JB walks away and Glen left to run the ship, win.

Nervous hands, relax and hold.

GL all invested.

I was in the same position as you, so decided to jump in today and bite the bullet as there is so much news due. Bought in at a smidge under .70

I almost bought in at 0.43 and had a live quote and didn't pull the trigger as I was convinced it had to run out of steam......then it just kept going :(

Luckily made up for it in AMGO!

GL.

Can't grumble at today overall. Nice to have a bit of stability in the SP to be honest. Plus results were better than expected, and there's been no further hand grenades thrown so far.

Hopefully a solid base set, and we build from here. Plus as others have mentioned, only 8 or so trading sessions before the 1% selling pressure ends.

Well done all still holding or bought in. Enjoy the weekend....and all shorters and scaremongering ****s get fecked.

That's the crazy thing, you could lose your house over it and also get ruined further by the loan company if they found out why you couldn't repay.

Not a risk worth even contemplating, but also hope it works out too. Just sell as soon as you break even as others have said.

What's the craic this afternoon, mate?

Anyone see how L2 is looking too?

Cheers.

Fair play, £50k loan against your house is berserk. That's one hell of a bet lol.

It's in auction

I am absolutely landed with that RNS. Today is gonna be epic!

Headlines

-- Covid-19 related payment holidays granted to approximately 47,000 customers
-- Revenue reduction of 31.7% to GBP48.8m (Q1 FY 2020: GBP71.5m) primarily due to the impact of Covid-19-related payment holidays and the temporary pause in all new lending except to key workers
-- Net loan book reduction of 24.1% to GBP553.1m (Q1 FY 2020: GBP728.4m)
-- Impairment:revenue ratio at 37.9% (Q1 FY 2020: 30.5%), driven by the downward revision of economic assumptions and the impact of Covid-19 related payment holidays

-- Operating cost:income ratio excluding complaints of 23.0% (Q1 FY 2020: 20.6%); including complaints the ratio was 36.9% (Q1 FY 2020: 23.4%)

-- Complaints provision broadly unchanged at GBP116.4m (Q1 FY 2020: GBP1.8m); incremental cost of GBP6.8m

-- Reported statutory profit after tax for the period of GBP3.0m (Q1 FY 2020: GBP18.1m)
-- Net borrowings/adjusted tangible equity: 1.8x (Q1 FY 2020: 1.8x)
-- GBP145.2m of cash and cash equivalents as at 30 June 2020 (Q1 FY 2020: GBP27.5m); unrestricted cash balance at a similar level as at 31 July 2020, of over GBP145m after the half year payment of interest on Amigo's senior secured notes

-- Voluntary agreement (VReq) reached with FCA to resolve complaints backlog by 30 October 2020 and on track to meet this deadline. FCA investigation into Amigo's creditworthiness assessments initiated

-- Post period end appointments to rebuild Board and position Amigo as a sustainable business for the long term

*Detailed definitions and calculations of these alternative performance measures (APMs) can be found in the APM section of these condensed financial statements

Commenting on the Q1 results, Nayan V.Kisnadwala, CFO of Amigo, said:

"The whole team at Amigo is focused on addressing our legacy issues and building a sustainable business for the long term. Operationally we have turned a corner in our handling of complaints. We are on track to meet the agreement reached with the FCA to resolve our complaints backlog and continue to work with the FCA on its ongoing investigation. We have adequate liquidity and funding to support our ongoing business activity.

"We are updating our lending processes and policies to enable Amigo to restart lending in a prudent manner by the end of 2020."

Analyst, investor and bondholder conference call and webcast

Amigo will be hosting a live webcast for investors and bondholders today at 09:30 (London time) which will be available at: https://www.amigoplc.com/investors/results-centre . A conference call is also available for those unable to join the webcast (Dial in: + 44 20 3936 2999; Access code: 227124). A replay will be available on Amigo's website after the event. The presentation pack for the webcast shows the reconciliation between the PLC results and Amigo Loans Group Limited (the 'Bond Group').

Notes to summary financial table:

(1) Number of customers represents the number of accoun

JB got my vote too, unless the board/RNS tomorrow has something outstanding for us, which I very much doubt.

Much more measured response from him this time. Just disappointed he put a ceiling on the buy back share price. To me that hints a bit that's all he sees the company worth at this stage, but that could just be my reaction to the wording.

No idea what the market will make of it. Hopefully a nice gap up, but not calling any SP after the MM's smashed us back after the last announcement.

Still, I'm glad I'm still holding.

A nice few ice cold Guinness for me or top shelf Molotov ****tail. Dependent on what the special one blurts out!

Good luck everyone.

I am locked in too.

Feels like the last scene in the 300 film. Hoooooold!

Bottom link it is

Vorag - thought I was seeing things, but that Top AIM stocks pump and dump tw#t is using your exact post on Twitter https://t.co/mYzPYqkKf9 https://t.co/JPrxtzzXAC

...I have no idea what this is gonna do tomorrow!

Also, when do you think he will announce? Will it be after close tomorrow when he is officially at 9.66%? Or will it be intra day when he tips the actual 10% mark?

Kindness is not the issue here.

How many accounts have we all seen set up and their first post being on the AMGO thread, with scaremongering, crazy predictions, nonsense or just plain stupid? Comes a point where you just get totally p!ss£d off with it.

If he is genuine and doesn't feel comfortable then sell and put it in national grid if he's not comfortable with the trade or potential volatility.

I wouldn't be calling someone smart ar$e if I was a dull twunt lumping 40k on a blind trade.

Bonkers.....

I made good money in the run up to 51p, getting in at 32p. Mistake I made was then buying back in at 47p when it pulled back from the 51p as it looked like it wanted to kick on again. Just never happened. So long way back for me.....but not a loss unless I sell lol

Shhhh.....don't swear mentioning CPI. My worst performing share by a country mile. Only not cut losses due to the pending ESS sale, and I will defo be out of that dog then. Just lucky I'm up on the rest of my portfolio!