Member Info for BIGBangs

I’m not sure that the rules only kick in for an hostile takeover otherwise you would see it more often - getting the board onside would become the trick and that might not be in best interests of shareholders - great for the board though. Very happy in this instance if you are correct - having followed you posts on various boards for quite a while now you are rarely wrong.

Problem was Mark we all lacked conviction or were hurting so badly we tried to play the market selling into every rise and making the job of the shorters very much easier. They have pushed it as far as they can now and the we as shareholders have more faith in the way this will run so now is the time for other buyers to appear or for stake building by existing key players.

That is absolutely correct gggg only existing shareholders who have purchased in the previous 12 months are restricted by the price they have paid any other potential buyer from outside would certainly act now before the £ rises against the $. My gut tells me Big V will want to be involved but it could certainly go another way - as RduR points out the next few weeks could be dramatic.

Your understanding is correct Mark. We as shareholders would say that SP falling from £40 to £2 clearly shows bank under distress but the operation of the the bank is going OK as QTR 3 report shows. Big V may argue that distress occurs as unable to operate effectively in capital market as under attack from outside forces - but we did raise funds so it would not be straight forward. Probably easier for Big V and those acting in concert with him to build a stake to 29.9% as suggested by Codey prior to launching a bid in March. This action would by itself put the SP back where it should be. ATB

Mark - to requirement to notify market on approach or during talks. Market notified if a deal is agreed otherwise some comment normally made if there is a lot of speculation that moves the price.

Yes it was James O’Brien - discussions surrounding pay day lenders which I accept we are not although we walk the same streets. Caller after caller basically repeating sad tales about how they started with a small amount of borrowing and gradually this built up - which of course why repeat business is so frowned upon. These callers were all working and just struggling to survive various life events - they were not stupid and did not appear gullible but they were sucked in - generally they all impressed me. Many has been given funds back by the regulator and as was pointed out there are now claims management companies getting involved, they are just as much sharks as the pay day lenders. I am sure that the AMGO board would have been listening and if there was any internal decent about tightening up lending criteria or pursuing new business rather than repeat then I hope that has now been put to bed. Do a good job, make a profit but don’t exploit people in precarious positions or our business will be crushed.

As a side note I have switched from Radio 4 to LBC and fully recommend it to those they enjoy a good debate - the presenters have their own views across the range and are not afraid or restricted to voice them - I particularly enjoy the morning program and the shows from 7pm and 10pm. If you are a remainder then 10 am for you and Nigel is on at 6pm for the Brexiteers.

If you are quick LBC are doing a piece on this now - AMGO not been mentioned so far.

It’s clear to me that if you are invested you should probably open an account - I did. You do not have to fully commit but every little helps the numbers - it’s not much to ask to help your own investment.

Franky is no more of a banking guru than the rest of us - 5 mins ago he was forecasting we would be trading at £1 by now. We post here because we believe or are willing to gamble that we will make a profit and therefore invest our time and money towards that end, why if he is not and apparently will never touch this stock is Franky posting? Your guess is as good as mine, perhaps he is just a very generous person with lots of time on his hands so he has made the decision to post on boards in which he has no investment just to tell us where we have all gone wrong.

Quid co were charging interest rates of up to 1300% and have been inundated with complaints to the regulators concerning their underwriting principles - basically as I read it not ensuring that the customer had the ability to repay which is a fundamental requirement. For what it’s worth and from what I can determine AMGO charge up to 50% and comply with underwriting requirements so have not had anything like the same issues. Last statement confirmed they are tightening their procedures so as not to fall foul of the requirements. Results in November - solid profitable business paying an excellent dividend - hold hard.

Goodness eviking I had to look that one up - now I have, I agree.

Hi Pat - I don’t think that a GE causes more uncertainty than we have experienced over last few years. Personally I think the only democratic route is for a GE - whoever wins we are at least likely to have a Government even a coalition with a clear mandate - Conservative out with Boris deal, Lab - SDP - Lib pact second referendum, revoke article 50. I know what I would prefer but I would be happy with a clear decision from a Govt that could get it through Parliament. I finally believe the shorts will close and the momentum is at last positive.

Thanks for coming back - Saga were on my own watch list but I agree that the decision to take on massive debt by buying their own ships seemed strange and as such I to decided not to invest - possible takeover target but not a strong enough case for me. I am also aware of the continually changing fortunes of Superdry - down again today - not a compelling story for me and a market that I just do not understand. INDV hit this week with 25% fall on speculation TEVA will seek to settle their own dispute by providing free product and potentially ruining INDV business - I think that outcome is unlikely and continue to hold for a dismissal or settlement of the DOJ case. ATB

With Quid Co likely to go bust today do we think this will cause a wobble here or be seen as an opportunity for us to pick up more new business? We are extremely profitable and they were not, hopefully less bad players in the market place is to our advantage but the market has been known to kick everyone is the same field whether that is deserved or not.

Well we will see soon enough Franky - personally I feel that the results being ok in many respects may well have put a line under this - as I believe the £ will rise against the $ on a Brexit ‘result’ it could well be that a well placed bid by Big V and his US mates would be perfectly timed now - without the constraints of the closed period and before Brexit resolution. I remain hopeful that gains will be held but as you know I have been wrong before. Holding hard.

RBS Down 2.6% on larger than expected losses on PPI:-
‘As a result of the PPI spike, RBS's loss attributable to shareholders totalled GBP315 million, compared to a GBP448 million profit in the third quarter last year and a GBP1.33 billion profit in the second quarter of this year.’

MTRO doing fine with no legacy or PPI issues. I am increasingly optimistic of a bid here.

The more you think about it this TEVA settlement proposal is just a red herring. Why would the US accept payment via product - committing them to one supplier when they could insist on a cash settlement - TEVA have the money and then buy the best product including newly developed products from the market at the best price as they see fit. As such I shall look to add. ATB

Well an interesting turn of events. It does not seem just or equitable that the misdeeds of one company could affect the opportunities that are available to another company. The States are more likely to prefer a cash settlement and are unlikely to accept an inferior product offer from Teva. Pure speculation but it could be that if a settlement of this nature became likely then Teva would in fact be a likely buyer for INDV free of the DOJ claim. I suppose the other thing to consider is that if a product settlement became an acceptable route and assuming that we loose the dismissal proceedings then we could offer to supply our much better product in lieu of cash?

Hope you do really well Super - you deserve it - we were all shafted here but at least you can be part of the new story. You should be pressing HSBC - perhaps it’s time for the mailed fist to show through the velvet glove.

Congratulations - Barrick and Tanzania settle the dispute. If only they could have done this before. Hope Barrick’s SP goes up a lot on Monday. Sale to Chinese next.