RE: This was the final bottom30 Sep 2020 21:24
I am afraid that once again JB’s has shown he has a lack of understanding on how the market works. He anticipated that all of the Small investors who bought up his shares on the cheap would understand what was expected of them and would provide the support that had cost JB and those of us who were invested before all of this pain began, so dearly. It was obvious from the beginning that many would not. He surely knew that to achieve 29% he would have to pay a lot more than 20p but I can only suggest he was trying to keep the SP under control until that point and to add insult to injury (both his and indeed ours) he told the market that he would not start to buy this 29% until he had been made CEO - he should not have given a figure. Anyone that posts here would have advised him to buy up at least 10% to give himself leverage before the vote but he was determined to risk it all on the spin of the wheel - he lost again because he may be a great businessman who can build a business from scratch to over £1billion value but he understands nothing about the market. My own view is that he called it wrong from the start, when the board obtained the injunction he should have spent his time and money appealing the decision - having read the agreement a lot would depend on what he was told and what advice he sort at the time of signing. Anyway water under the bridge - there is a definite need for the facilities that AMGO offer and they should be able to restructure their loans which is vital. Hopefully the FCA can now; without loss of face, take a more conciliatory approach with us re complaints (they were after all wrong all along) and we can get back to lending, quick hike up of the interest rate to justify the risk and off we go. I would not be surprised if JB does take a significant and that is fine by me, I just hope he keeps off Twitter. ATB
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