Member Info for BIGBangs

This is exactly what JB has been saying over and over again - he was right but his failure to secure a change is not the fault of shareholders. It should have been the job of the BoD to confront the FCA/FSO about this but they didn’t and so grew the claims companies, in my view the real sharks. 50% interest is nothing in comparison to the 1000’s charged by Wonga but we are being treated the same and the people that need these loans from a reputable source are killing us with their short term opportunism - where will they go if companies like AMGO did not exist? I have added a few more today hold a ridiculous amount at a SP that is still well north of here but I still have faith that it will come good. I am less convinced that JB will be the buyer going from his twitter comments as he has, by design or otherwise, driven the price down to these low levels and could well be accused of market manipulation if he suddenly appeared with a bid, unless of course it was high enough! JB handled this badly from the start and his irrevocable broker instruction, apparently without guidelines is unprecedented if he does care anything for us other shareholders he should at least release a comment identifying a price he would be prepared to sell the bulk of his holding.

Re JB’s latest Tweets. If he thinks all shareholders were against him he should ask Amgo for the numbers - I am willing to bet that the 8% who voted with him is made up of the vast majority of the small shareholders who believed that the BoD were now useless and ineffective and wanted to pursue a judicial review, yet it is us that he is now hurting. The SP will come back, we will be bought out and for a lot more than the current SP, unfortunately until then we have to live with the pain whilst JB sells his 1% per day with apparently no master plan just a seemingly illogical and unprecedented sell order broadcast to the market. Nothing has really changed, the business is still solid but any potentially bidder can simply keep increasing their stake each day - all we can really do is wait, hold if you can, add if you are brave or just want to gamble that people can’t really be quite this stupid.

No B,I don’t think so, there is a buyer, they will appreciate the opportunity much better than we do, they will presumably have done due diligence and will have been advised as to the FCA position, therefore, I don’t think people will be awaiting the results. Amgo confirmed they would give guidance by end of June and publish full results on the 23rd July a lot will have changed by then and in any event who - other than JB, would want to sell now? I believe the price will rise from here but as you well know I have been wrong before!

I can see that JB’s confirmation that interested parties are circling the wagons can only be good news especially if it means some of the ridiculously negative and often suspicious comments here are reduced. JB certainly drives me a little crazy but I do not underestimate his intelligence for one second. Other than confirmation will increase the SP, which is always good news, I am struggling as to why he would make the statement let alone operate in this manner, presumably he is hoping that as more shares come onto the market a buyer will want to keep increasing the price and others will be adding to take advantage - certainly we will now have hit the bottom - but why this way? How can selling 1% a day help him, the company or the other shareholders? I really just don’t get it but happy that I have added considerably - very interested to see how this turns out. ATB

He can’t buy at 5p because no one would accept it and the more he sells the more control we have. Think of the value here Special - you saw it at over 50p wisely it’s now turns out sold at 16 - I would not presume to give you advice but if you use the capital you secured on sale you could potentially make up your earlier loss and more. Look through all the smoke and mirrors this will be bought out if not by JB (although it will be him) then by someone else and the price will be much higher, it might just be time to switch otherwise tell me where all the sales are going and why if there is any sort of overhang the price is not still falling?

I am concerned that some of you are worried that JB may be cutting his own throat by selling shares into the market and allowing the price to drop. Well please let me put your minds at rest with a possible but of course unlikely scenario. JB is based in the Seychelles - a tax haven know for having very lax reporting and control of the many 1000 companies that are set up, often anonymously, by individuals or companies who might not want their dealings to be seen in the full light of public glare. Let’s speculate that JB wanted to circumvent the rules he could, I’m sure he wouldn’t but he could set up a SPV (Special Purpose Vehicle) to buy up all and any Amigo shares that come onto the market - he could also if he wanted to be doubly sure instruct his broker to sell his share only in blocks thereby ensuring they got to the right home. JB sells, this forces the price down, the SPV buys and holds pending offer - you cannot make a Seychelles registered company comply with the rule to notify the market of its purchase. I am sure this is not happening as JB will be more than content with the money he makes taking the company forward after his offer is finally made and accepted, I am just speculating that he could play the system a little so that those that are can stop worrying about him. Anyway far more than enough from me today - Pimm’s o’clock.

It doesn’t work like that Old - he makes a bid for the whole company and those that are able to vote - relax.

I don’t really see what difference that makes Old but in any event his shareholding prevented him adding without listing approval which due to the liquidity problems previously identified with this share would not have been forthcoming.

No really Armada - I am sure he will believe that he gave us shareholders a chance to vote with him and reap the full reward that he envisages for the company. The vote went massively against him and the price was what 17p at the time but unlike a lot of posters here a great many of us have been here since 70p and above and we know the true value of the company. By flexing his muscles selling shares (he has lots) he can drop the price to 6 or 7p so that when he comes in with a bid of 25/35p even those of us that have been here for a while will have had the chance to add under 10p potentially reduce our average considerably and be onside when the bid materialises. For the board and the institutions that did not vote with him they will have had a stark reminder of what the major shareholder can do if he gets peed off and so they will be just as willing to get out and let someone else get on with it. Of course I could be wrong and JB is just stupid and does not understand how the market works or the value of money.

Sorry Old, you may well be right - I though a special resolution without board approval ie hostile with the intention of going private needed 90% but I am willing to accept it may only take 75%. I wonder would JB/RG be allowed to vote - that would set another obstacle And potentially push up the price required to secure our acceptance . I do not agree for one second that if JB does Make a bid to take us private that we will lose our shirts, quite the opposite in fact - we will know soon enough. Good luck.

I can’t help thinking that revenge is at least part of JB’s play here. Revenge against the board and it would appear against Glen Crawford who appeared to make some remarkably incite-full share trades last year but now must be about £10 million down and of course as an insider is not allowed to trade in the closed period running up to results. I remain convinced that JB will not allow his holding to fall below 50% and he will make a bid. I was hoping for more but it is all relative so now I expect 25/35p - he needs 90% of the vote to take private so he needs to be sure that nobody else swoops in and that he carries the day. Despite the constant 1% sells the price is holding up over the last few days as potentially other interested parties are building a position - TR1’s due any time now should prove my point. Please do not read this as I am sure the SP will not have another drop, it could but for me a least the prospects risk versus reward are strong. ATB.

I love the heading too.

So what you are seriously suggesting is that hard nosed MM’s out of the well known goodness of their hearts are allowing big volume sales at a price at which they cannot clear their book and creating a overhang problem for themselves that will presumably only increase when JB enters the market again tomorrow?

It’s my experience that MM’s are pretty smart traders and they would not be building a pile of shares with a falling price so either there is no overhand or there is a buyer in the wings.

Well if it does come it will not actually be a surprise to anyone and is surely reflected in the price who knows but I remain a buyer. Good luck with whatever position you take the only crime must be to have no position either way.

Another interesting day - I managed to pick up a couple of 100 k. The interesting thing is why was the holding RNS issued in the middle of trading instead of at the end as would usually happen. Maybe nothing but it could be clearing the way. Price held up better today any big sells were difficult to spot.

RNS confirms Richmond Group dropped another 1% or 4.75m shares on 22nd.

Guys - he is selling 4.75 m per day which will always be 1% of the company - when you look at the holding RNS that is reducing by 1% per day meaning 1% of AMGO.

Sorry B 1% of company every day.

Sorry guys but on this occasion they are correct - JB is committed to sell 1% or the company or 4.75m shares per day - that is until something changes like he or someone makes an offer.

Confirmation if you needed it that JB sold 1% on the 19th - more to follow.