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Glancing back to 2019. (Food for thought).......Loan lender's customer growth and revenue strong despite financial dips Guarantor loan lender Amigo Holdings has revealed its six-month results to September 30 2019. The company’s net loan book stands at £730.7m, said to be an 8.8 per cent increase underpinned by ‘strong’ customer growth of 17.9 per cent. Amigo Holdings’ revenue has increased to £145.4m - up by 11.8 per cent. Impairment revenue ratio within guidance stands at 31.1 per cent. The company’s profit-before-tax for the specified period stands at £37m, a reduction of 1.9 per cent. Commenting on the half year results, Hamish Paton, CEO of Amigo, said: “The first half of the financial year has demonstrated continued demand for our guarantor loan product with solid growth in customer numbers. “We are making encouraging progress as we roll out the operational and strategic initiatives outlined in August. While it will take some time to see the full benefits, we are pleased with the positive start we have made.” He added: “Amigo holds a leading position in the guarantor loans market and our product makes a real difference to the lives of our borrowers, many of whom cannot access credit from mainstream providers. “

(Food for thought).......Loan lender's customer growth and revenue strong despite financial dips Guarantor loan lender Amigo Holdings has revealed its six-month results to September 30 2019. The company’s net loan book stands at £730.7m, said to be an 8.8 per cent increase underpinned by ‘strong’ customer growth of 17.9 per cent. Amigo Holdings’ revenue has increased to £145.4m - up by 11.8 per cent. Impairment revenue ratio within guidance stands at 31.1 per cent. The company’s profit-before-tax for the specified period stands at £37m, a reduction of 1.9 per cent. Commenting on the half year results, Hamish Paton, CEO of Amigo, said: “The first half of the financial year has demonstrated continued demand for our guarantor loan product with solid growth in customer numbers. “We are making encouraging progress as we roll out the operational and strategic initiatives outlined in August. While it will take some time to see the full benefits, we are pleased with the positive start we have made.” He added: “Amigo holds a leading position in the guarantor loans market and our product makes a real difference to the lives of our borrowers, many of whom cannot access credit from mainstream providers. “

A very well thought out Post Largey00.....very constructive and realistic in your views of the options and potential of the company going forward from here. Appreciate your input.

However there would seem to be time to turn this around during the coming 12months . it was once a company earning excellent revenue and paying good dividends. In this present economic climate and with fewer competitors once sufficiently financed will no doubt do really well.
£3 per share 2 years back to 6p . where could it climb back to 2 years from now?

Quote from 11th April 22 Rns …….There remain significant obstacles to overcome, including the need for a significantly dilutive equity issue, to recapitalise the ongoing business given the requirements of the Schemes for the transfer of virtually all existing assets to the redress creditors."

As detailed in the 6 December 2021 update, the New Business Scheme proposes an initial contribution of £97 million, to be generated from internal resources. A significant proportion of this initial contribution is derived from the run-down of the existing loan book. In order to secure the best result for Redress Creditors possible in the circumstances, the New Business Scheme will include provision for an additional payment to Redress Creditors in the event that the existing loan book generates a better return than currently anticipated.



As also stated in the update on 6 December 2021, the Company intends to raise capital, within one year of sanction of the New Business Scheme by the Court, to fund both the £15 million Scheme contribution and future lending. The equity raise is likely to be undertaken by a rights issue for existing shareholders, with a placing of unsubscribed shares to third party investors. The rights issue will be subject to the approval of the Company's shareholders after the New Business Scheme is sanctioned by the Court. If shareholders do not approve the rights issue, the New Business Scheme will revert into a wind down under which the shareholders will receive nothing in respect of Amigo Loans Ltd.



The New Business Scheme will require the Company to issue at least 19 new shares for every existing share in the Company. This will leave existing shareholders (unless they participate in the equity raise) with no more than 5% of the Company's share capital, reflecting a UK market standard level of economic interest for equity holders where creditors are not being paid in full.



Amigo will have up to a year from the sanction of the New Business Scheme to complete the new equity raise.

I believe that the total amount to to raised is 70m of which 15m or so is the extra required for estimated creditor payouts and 55m for new business funding.

What would be considered as fair value for the share price , assuming lending recommences and there is the expected positive response to launch of new products?

Fair enough, accepted Largey00 , was assuming it was a one off....fully agree with you as regards the all important RNS confirming FCA has authorised Amigo to commence lending once more. Sure I read Garry said new loan product's and advertising were already devised and ready to go.

Fair enough, accepted Langley , was assuming it was a one off....fully agree with you as regards the all important RNS confirming FCA has authorised Amigo to commence lending once more. Sure I read Garry said new loan product's and advertising were already devised and ready to go.

Agreed ,they must have been considering the timing of this purchase for a short while and decided now was the time .....before news on lending again is notified to the market

Amigo is continuing to engage constructively with the FCA to satisfy its requirements for Amigo to start lending and will update the market as soon as we are able.

The FCA has also confirmed that the firm could, subject to it meeting certain conditions, resume lending if its Scheme is sanctioned by the Court. The letter sets out the conditions the firm would need to satisfy to be able to return to lending, which include it meeting the threshold conditions, testing of the firm's new lending system being completed to the satisfaction of the FCA and the firm addressing any other issues that may arise.….….…... Its likely these conditions are being addressed right now and hopefully everything will be acceptable and that lending will be recommencing any time soon

At 6.23p gone thro

Got a feeling it might well.

Gary said on radio 4 interview last weekend QUOTE: "Hopefully, shortly within a few weeks"

At a just under and around 6p .....will this possibly turn green today?

Gary said " the FCA has to allow us to return to lending, hopefully shortly within the next few weeks"

Looks to me while viewing early trades today that as soon as there sold......there been bought up straight away......hedge funds buying together with shorts closing ?

Compared to most other companies trading , that number is so low. And because of this its share price movement can be so dramatic either way on news. Right now it looks like the SP as stabilized, and poised to move higher. Forthcoming RNS's especially recommencement of lending will no doubt result in a dramatic spike upwards.

!! any movement in the shareprice