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What an awful offer; what an even worse roll-over by the BoD. What's their motto 'aim low, reach your goals, avoid disappointment'?
If all $10m is a special divi within a year, divided by 1393m shares, that's $0.00718 per share.
Then after 4 years a further $50m, of which 'portions' 'may' be given as a divi, that would be $0.03589 per share if all distributed.
However, nothing is stated as definite commitments to shareholders.
Then $3m a year to the company starting 2027.
$20m retained as cash - what about the rest?
Company converted to a cash shell for which a Reverse Takeover is required within 6 months. Bearing in mind the utter shambles for years, why does the BoD believe we will have any faith in them finding a worthwhile asset at a good price and then wait years for it to develop to fruition? Look what they've done with this one - nothing.
Please check my points above, I'm sure I have some mistakes. My sympathy to LTHs especially.
I'm sure there is an element of bitter ones who will vote for wind down but hope they will be a minority.
However, now with the economy in a pretty poor state with inflation, supply chain problems, Brexit hangover, plus war all in the background I would expect even some of the bitter ones not to cut their noses off to spite their faces! Practically everyone who is not rich is facing a short-term reduction in living standards - for the poorer it is bound to hoit them disproportionately.
My feeling (hardly scientific) is that creditors will vote for SOA2 and not wind down and that followed by court approval will take the SP beyond 10p but where beyond I really have no idea. With the RI being inevitable, I can't see it going up to 30p much as I would love it to.
Paris, I've been waiting for jam tomorrow since 2009!
It's disappointing once again that news generates no major SP movement. On the contrary, in the last 3 months, we have declined from about 3.5p to 2.5p (though some of this is no doubt due to external factors like inflation and war).
The assays look promising but contain no major headlines - does this mean we will have to wait for the remaining assays and then an updated JORC to make LEX a bit more loved? Or fund-raising and another round of drilling to conclusively prove a big enough extractable bunch of deposits to get some major interest.
My average price is 9.8p but with the highest of 16.8p paid, I'm currently 40% under water, having first bought in in Oct 2020.
Expectations now severely tempered by the history of the past year or more but am hopeful of a moderate profit even if I have to put more money in for the RI.
I really hope the so called shareholder group is not going to do anything stupid and undo all the work of the BoD of the past 12 months.
I might have misunderstood, but thought that if the wind-down scheme is chosen, shareholders will be wiped out completely.
This is from an earlier RNS: "If the New Business Scheme is not sanctioned (or if the Company's shareholders do not vote to approve the equity raise contemplated) Amigo Loans Ltd will enter a wind down Scheme or insolvency. In such a scenario, Redress Creditors will receive less than under the New Business Scheme, and the Company's shareholders would receive nothing in respect of Amigo Loans Ltd."
If the NBS is chosen, then we have to vote for the equity raise. Then, if the vote for that is a yes, we either stump up more money to avoid dilution, or accept up to 95% dilution.
If the Vanir/new company route was chosen, wouldn't existing shareholders also be wiped out?
In a way, I tend to think of the factory as a side issue. Whatever happens with NANO, win or lose Samsung remains an electronics giant with its own momentum. They must have a good business case for creating the factory and it seems unlikely they would cancel it or change whatever their global strategy is if they lose our court case.
It stretches my imagination too far to think it's a massive bribe, even knowing Samsung's corporate history, but I can be a bit naive sometimes!
It seems the risk here is all geo-political. Fundamentals of the company are fine.
It is still working and producing. I think only about half assets are in Russia and the company has announced it is considering the corporate structure to see if it is right to split Russian assets off.
Since June last year the SP has been on a mild decline from the high of about 1700p before the war caused it to crash from 1100-1200p to where we are now.
Even allowing for day trading volatility and MMs working hard, I do expect the SP to slowly return to around 800p or more over the next few months if there is peace.
Bearing in mind what happened at Evraz where the divi was cancelled at the last minute, I wouldn't be surprised if the same happens here. If it does then at least that value is retained in the company and not lost, even though it's not in our pockets.
I may be living in cloud cuckoo land here, but this is what the best possible outcome might look like for NANO. It assumes that there is no rights issue or other shareholder dilution.
Edison seem to work out possible damages of $200-250m for America only which they say is one third of global sales. If Samsung lose the court case or decide to go for pre-court settlement and want a worldwide settlement 600-750m seems reasonable. Then would this be x3 for wilful infringement IE a max $1.8bn to $2.25bn?
With 307m shares, this could equate to £1.36bn - £1.70bn/307m shares = £4.43 to £5.54 SP.
Edison also note NANO would only keep 50% to 80% of the award (presumably to pay off the lawyers and TPF?), which would leave an SP range of between £2.22 to £2.77 (50% retained) to £3.54 to £4.43 (80% retained).
Without wilful infringement the worldwide settlement figures would reduce the SP figures to £0.72 to £0.92 (50% retained) to £1.18 to £1.48 (80% retained).
These would be the potential absolute maximums we may achieve if we win the court case (and any successful defence of a Samsung appeal).
Do check my maths as I made a schoolboy error last time.
As a small holder even the max SP wouldn't be life changing for me, but would make life much more comfortable. I suspect for some of you it could be though.
GLA.
You ask what will replace official sub-prime lending - we all know and here is the latest from the Beeb on the problem:
https://www.bbc.co.uk/news/uk-60766810
This will only get worse with the current economic situation; at least lenders like Amigo are official, there is a route for resolution if mis-selling occurs, and the rates of interest charged are fair considering the risk.
If you're right, it will mean a one-off biggish drop next week. Also, I'm unsure how the delisting from the indices will affect our ability to trade, if at all.
Anyway, I am in this for a firm hold for now because the fundamentals are good for this company and the SP only reflects the geopolitical risk.
I can't see the war going on for much longer as the risks to both sides are too big. I hope and pray that negotiations continue and produce a temporary ceasefire as a bare minimum. The Ukrainians are suffering terribly. Even if you are one of the 'better off' who managed to get out of the country, you may not have anywhere to live and when there is peace what do you have to go back to? Do you have your loved ones, belongings, home, village or city still in existence, let alone trying to make a living again?
I know how you feel, having gone through some of the dips myself. I've been in and out of this share since 2016 and now use the 50 day SMA as a signal when to get in or out.
From the SP today, looks as if some are buying in anticipation of good results on 22/03 and the SP in general may be on the turn.; if it drops back later today or Monday, I will probably buy.
Overall, this has been a great share for LTHs and it pays a divi too.
Just made my final purchase of a massive 419 shares at 133.5p, taking my average to about 140p. I don't mind if this becomes difficult to trade for the next year or even longer, as I think once a 'normal' trading environment re-emerges, the SP will rise to a min of double of roughly where we are now.
If some sort of peace deal can be agreed, my guess is the West will have to remove some sanctions both to show willingness and also acting from self-interest. That may help remove some of the stigma from Russia and possible reverse some of the ESG posturing that has been taking place.
Exactly. Unless I've got completely the wrong end of the stick, it doesn't mean the SP is zero - they have to do it for system purposes. The real SP would only become zero if they went out of business/bankrupt and that is not happening.
The worst may be that POLY is suspended like EVR but can't think what current grounds this would be based on. More likely in the short term is that liquidity will be less as a result of fewer brokers offering and so this might become difficult to trade.
I did a couple of day trades on this and did ok. Bought some more at lunchtime today and accept that I may not be able to do anything with them for days/weeks/months. However, my view is that they will more than double in a short period after normal trading resumes. In turn, that depends on successful peace talks and guess there will be many twists and turns until peace returns.
My thoughts are with all the people directly affected - let's hope current talks grow into something meaningful.
My understanding is that while POLY (and EVR) will be delisted from the FTSE Russell indices at the end of the week, they will still be able to be traded, so the companies themselves are NOT being delisted nor their SP reduced to nothing.
From what I've read, it seems tracker funds/ETFs etc will need to remove their shareholdings and that selling will presumably put temporary downward pressure on the SP. As many brokers seem to be stepping back from these shares their liquidity may also reduce in the short term.
Both companies are big and both continuing their day-to-day business; while cancellation of the divi in EVR was disappointing it is is understandable and that value is still retained. I wouldn't be surprised if the same this happens with POLY.
Provided some kind of ceasefire or peace can be agreed, surely both companies have a very bright future and ought to recover substantially from the current SP (once EVR is allowed to trade again by the FCA).
For the record, I don't want to sound heartless about this but I am invested, like the rest of us, to make money. My wife is Ukrainian by nationality, half-Russian/half-Ukrainian by parentage with her first language as Russian and used to live in Lugansk. Her home city has been an economic wreck since 2014 and piled on top of that she has relatives in Kiev who, thank god, have been safe so far, with others in Crimea and Russia. That is one person - I hope it helps you realise the situation is far more complicated than is presented my any of the main news channels.
Let's hope for an end to the invasion and lasting peace without a dismembered Ukraine.
My understanding is that while EVR (and POLY) will be delisted from the FTSE Russell indices at the end of the week, they will still be able to be traded, so the companies themselves are NOT being delisted nor their SP reduced to nothing.
From what I've read, it seems tracker funds/ETFs etc will need to remove their shareholdings and that selling will presumably put temporary downward pressure on the SP. As many brokers seem to be stepping back from these shares their liquidity may also reduce in the short term.
Both companies are big and both continuing their day-to-day business; while cancellation of the divi was disappointing it is is understandable and that value is still retained.
Provided some kind of ceasefire or peace can be agreed, surely both companies have a very bright future and ought to recover substantially from the current SP, once EVR is allowed to trade again by the FCA.
For the record, I don't want to sound heartless about this but I am invested, like the rest of us, to make money. My wife is Ukrainian by nationality, half-Russian/half-Ukrainian by parentage with her first language as Russian and used to live in Lugansk. Her home city has been an economic wreck since 2014 and piled on top of that she has relatives in Kiev who, thank god, have been safe so far, with others in Crimea and Russia. That is one person - I hope it helps you realise the situation is far more complicated than is presented my any of the main news channels.
Let's hope for an end to the invasion and lasting peace without a dismembered Ukraine.
I know the feeling. Topped up at 112.75p shortly after 4pm and now price going bonkers.
Er, don't think this goes ex-div until May, so that alone is not a reason to buy now. Are you getting confused with Evraz, which does in a couple of days?
Biden may announce the ban - but I understand it will only be the USA. Germany and the Netherlands already said on Monday they will NOT do this (because of Russia's threat to then cut off natural gas). I would think the US can make any jump in the oil price less bad for their economy by producing more of their own (Permian Basin etc is mainly fracking which is much easier to stop=start production). I don't know how much Russian oil the US uses - can anyone give some info about this? Will it hurt the US or is it really just Biden grandstanding?
Hope it doesn't mean stocks like EVR and POLY get hit again, unless you're buying more.
Really? Nothing on the BBC about this yet.
All I can find is that Germany and Netherlands had already said they will NOT ban Russian oil. Even if Biden says the USA will ban, it can't be effective if other major economies won't agree.
I'm flummoxed as to the drop today, when EVR was up about 20%. But am likely to top up if price stays like this till the end of the trading day.
Very positive all round and nice to see the SP bounce this way - now only 39% down on my average of just under 10p!! We know how volatile this SP can be though, esp with day traders probably loading/unloading from now on. I'm expecting the ole Amigo rollercoaster to give us a few bruises - let's hope it'll be worthwhile, considering what we may have to stump up to avoid dilution.