Member Info for bransonbull

Senator, just want to say that I for one massively appreciate your posts,,given knowledge of the financials and rankings of stakeholders

Jimmy. Top up loans should be fully compensated. Normal loans where people's circumstances changes AFTER they took out the loan and / or where they lied should not be. The FCA artificially inflated the market cap by saying they would not oppose the SoA. They then used the inflation in the SP (they caused) as a justification as to why shareholders could afford to pay more, cratering the SP with a loss of 100m in mkt cap. They equated the bondholders with other unsecured creditors and didn't understand the concept of senior. They suggested cash in the bank could be used for the unsecured creditors when it belongs to the secured folk. So they have scored various own goals that threatens AMGO's viability and AMGO 2.0....which in turn risks those missold loans getting precious little.

Hello. I lied about my ability to afford my amgo shares topped up when 23p. I would like compensation from the FCA , a full refund, plus 8% per year interest please. Ps the case handling fee of 650 quid can go to Amgo to recompense them for all the false claims encouraged by CMCs that the FCA and FOS have done nothing about.
I would also like to see the secured bondholder cash reallocated to unsecured creditors and unsecured shareholders, as suggested by the FCA, who don't appear to understand creditor rankings.

It's a public holiday...

...AGree FCA dont like guarantor loans as an instrument at all. However, they are completely naive if they think friends, family and fools will step in and fill the gap. The Woolard Review points to clear market failures, hence the need for sub-prime loans firms. Also, blaming small shareholders when the shareholders that profited were IIs and JB and most of us are new holders is outrageous

Your first post in 6 weeks.......How would Bloomberg announce our "insolvency" without an RNS first from AMGO? Post reported for misleading and deliberate manipulation...

PS - Q4 results surely delayed a bit. What is embarrassing for AMGO is that Q3 results were good, with major debt being paid down and + FCF. What judge and FCA forgot is this doesn't belong to shareholders, but secured creditors.....nonetheless, reduce the debt, get out of the merde?

Dear all,

I've sold some and bought back others...the risk/ reward feels like 50-50 at the mo, rather than 80-20 as it was before. AMGO will have to say they are considering other options including insolvency otherwise their court stance will look silly...but i'd think there are options before then to improve the scheme.

Call me cynical but as Gary and BOD own large no's of shares, even Gazza's wife, they will find creative ways to increase the pot that don't involve wiping out shareholders. Most here would stomach a RI or dilutive placing depending on scale of dilution...if that meant SoA and AMGO 2.0 gets underway.

Dont bet the house but debt is being paid down rapidly from running down existing (profitable) loan book...

Paul Anthony - you are trying too hard bro.

...i've been infected with a rabid disease involving the compulsion to buy AMGO shares. Just bought 120ks close to the bell.

I think the change of stance by the FCA (having initially explicitly said they would not oppose the SoA) could provide sufficient legal grounds for a class action by shareholders against the FCA.

They initially said they didn't support it, but explicitly that they would not oppose it, only intervening to oppose it in court at the 11th hour.
They then had the audacity to use the argument in court that there is considerable value in the equity, despite the fact that the only reason for the rise in SP was their statement that they would not block the SoA, so therefore optimism regarding the SoA's approval and the launch of AMGO 2.0).
They therefore manipulated the SP and misled the judge by stating that there was 140m of equity in the firm, when but for their intervention, there has been £30-60 million of equity for much of the past year.

I think there is legal grounds to sue the FCA.

ISA - if anybody claims shareholders haven't contributed, please mention the 160 m already paid in redress +new redress pot + foregone dividends + 15% of future profits...plus a 90% fall in the SP...shareholders have contributed more than customers

Judge Mr Montescue Bullingdon Smythe has just intervened to tell the Debt Camel lady to pipe down and keep calm for AMGO 2.0

Judge Mr Montescue Bullingdon Smythe has just intervented

If we were not going to get the SoA approved, possibly with minor tweaking on the fairness front, why else have Bybrook bought 53 million?

A lot of PIs got mugged yesterday....more and more shares in sticky hands...whether it is JPM, BYB, or our very own Vinson, less free float available daily ....meaning unless FCA scuppers things....bigger rises...DYOR

Sorry - correct article is here amigos! https://www.theguardian.com/money/2021/mar/18/block-amigo-scheme-to-cap-compensation-for-customers-fca-urged

The Guardian understands the FCA is preparing to tell the court it has reservations about the scheme, but it is unclear whether the regulator will make a submission to the court suggesting the deal be scrapped.

The FCA could also inform the judge that should the scheme of arrangement be agreed, it is prepared to continue as its supervisory watchdog.

It has stressed that its powers are limited and that it cannot unilaterally block the scheme as it heads to court. It could, however, make a public declaration condemning the scheme, or provide more detailed information to customers about their options.

Mick McAteer, a former FCA board member who now runs the Financial Inclusion Centre, said the FCA “needs to remember it is there to fight to protect consumers – especially vulnerable consumers like this”.

Jennison said the scheme was “absolutely” fair for borrowers. “We need to understand there is not a bottomless cash cow here,” he said.

I topped up at 18.4p now back at 24p. Classic tree shake. Pls consult Guardian article from first SoA, which explicitly said that the FCA cannot legally stop the SoA, so i'd suggest there will be long argument during the court hearing but ultimately, a few tweaks. DYOR as it's either boom or bust...but

"The court heard that the FCA did not support the scheme, but “it was not currently planning to take any further action”. Since it became known last week that the FCA would not oppose the deal, the company’s share price has risen 50% to 16p". See https://www.theguardian.com/money/2021/mar/30/high-court-allows-troubled-amigo-loans-to-cap-compensation-payments

Hello Slift, have you bought back in yet? You said that you sold after results due to my post ...they were good results, given the CV 19 and sfo backdrop and circumstances.

They are exaggerating... ,to save you 9 months....the voting for the scheme of arrangement closed yesterday. The results will be announced Wednesday, the 2nd court date is 19th May.