Member Info for BIGBangs

RNS just come through confirming that JB has made his sale for the day potentially giving us a very strong prospect for this afternoon’s trading. I am holding firm here, in fact I managed to add a few first thing. Very pleased with cash position and extension with FCA. At the end of the day AMGO is leading guarantor backed lender and has no shortage of customers, if more credit checks are required then obviously that can be done, I foresee an increase in interest rates from 50% to 75% which will cover additional costs, provide an appropriate level against defaults and show a better margin between AMGO and high street bank overdraft rates now running in excess of 40% - going forward the margin will be maintained. Rise over last few days very welcome, indeed I am nearly breaking even but I bought in for a profit and I will certainly be holding for daily gains which I hope will now take us towards 30p and offer from one of several companies who will be eager to acquire - although I do think most likely buyer and probably best fit is PFG all share at 4 AMGO to 1 PFG. ATB Hold Hard!

Chips, we probably have a different view of the BoD and JB but we can both hope for a rising SP then a strong offer. I took the decision to average down, not always a sensible thing to do I know but perhaps this time....

Chip. Whilst I actually hope that the SP has a little more time to recover to something over 20p before an offer is made, when it is, if accepted all of you shares will be acquired for cash from or shares in the acquiring company. If you do not like the offer vote against it, assuming that JB decides not to vote (and who can tell what he will do), then every share will count. If the offer has board approval it will likely go through on 50% plus but if they do not and the offer is therefore hostile the acquirer would need 75% of the vote. I expect a few more twists and turns yet but I am hoping that both us longer term and the very lucky short term investors are going to be very pleasantly surprised.

With nothing to do but wait I speculate....PFG - all share - 4:1

Over 7 now - we must be expecting an RNS. I will not be selling until (well?) over 20p - expect rapid jump and bid 25+.

Maybe but I don’t want to look stupid going out for dinner.

Dummy trade gives me 6.85 on 250k but unable to buy 10k.

I’ll have Liz Hurley thank you.

I would stop payouts until we had a judicial review and any that were subsequently due I would pay from our provisions and cash balance or at worst from the money we collect in from the £1 bn loan book. Have a good evening.

Well BS let’s say I set up a SPV put in some money myself and tapped up a few posters here for some cash - we buy 100% of AMIGO and of course our first action would be to repay the loan that the SPV took out from the cash held within our AMIGO subsidiary we then own 100% of AMIGO and it has cost us nothing. We then have a chat with JB and pursue a judicial review in the hope and belief that we can get the value of our company up to £500m - I’ll give that a go.

BS - I realise that you are convinced that this will keep falling and accept and respect that you have been correct so far but if the SP continued to drop 10% a day for the next 50 days it would be £0.0005 (approx) and I would own an awful lot of shares -so that means at some point something has to change - my view is that someone will make a bid, what do you think will happen? Also just for fun what happens when someone - very possibly me if the price falls as you suggest, makes a bid as required when the 30% threshold is crossed - let’s say the price is £0.005 at that time whilst the company consider the offer and put it to shareholders I keep buying JB’s shares in the market so own all his shares from that point so if my bid is rejected I still end up with a very large % and effective control - how would that work?

That’s quite a first post Buyer. Let’s guess you have 4m - I hold about 2m myself and like you still prepared to add. JB has released c 40m into the market. I did believe he was in control of the process and had a master plan intending to swoop in with a 30p offer as he got close to 50% but now I am thinking he has no plan and it is the BoD, prospective buyer and potentially even the MM’s who are taking him to the cleaners here. I guess we will find out fairly soon. ATB

Perhaps someone should tell JB that the only way he is actually going to change anything or pursue the old board legally would be if he owned the company.

And of course his statement sends the price down - I snapped up another 100k at 5.03 so thanks. Surely fraud aside HP will have some sort of legal indemnity that will mean he is covered by AMIGO for any legal matters arising from his employment, this would not cover fraud so unless JB is suggesting that HP acted deliberately in order to damage AMIGO SP for his benefit or the benefit of a prospective employer then I can’t really see anything has changed.

I agree E_AL simply tabling the action should bring a positive result.

Special I think the relationship with the FCA is much better than you appear to suggest - we had £35 m of provisions outside of our declared profit and we are a long way off spending that.

Yes E_AL I am with you but it will require all of the other shareholders to unite and for everyone to vote - many did not previously.

Have to agree 100% HH.

You might of hoped that a board that was on the ball, would have included such a request within the recent vote - just in case.

I certainly do not dispute that this would be a good use of funds but I do not believe that the company has any authority to do this - shareholder approval by EGM/AGM is required - JB would have to agree.

It would not have been difficult to word the undertaking in such a way that certain criteria had to be met which could not only include price but a suspension in sale if an offer were made by JB or he was considering an offer made by a third party.

I was supportive of JB when he declined to discuss the derisory low figure if 21p per share because I thought he had a plan that would provide us with the opportunity to achieve the true value at £1. When it turns out that JB apparently had no plan B and the result, to date at least, has been for the SP to fall to these new lows then my faith in him seems misplaced - he did not want the Directors or Glen Crawford to get a special deal but what does he think will happen now? What is more hassle to sell in all in one go at say 35p or let the shares drip into the market at 1% each day and have your fellow shareholders suffer whilst the incompetent BoD potentially conspire to protect their position?