Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
So we're not going to be digital streaming giants after all. Shame I didn't keep receipt for the shell suits I just ordered 😞
To clarify, is the intention that the £5M comes from Craven House, so no RI, but we gain some start up businesses in return for dilution?
Didn't see any invitation to vote on the resolutions...
Will be interesting to see how this pans out. I guess being out of the exclusively arrangement enhances chance of something happening whilst allowing that opportunity to run it's course as well.
Anyone on the Zoom call? I can't make it today unfortunately...
George, you don't fancy getting out with a healthy profit and buying back in if any funding is secured?
Any ASAG members on here? Do you guys get regular updates on progress or are you just as in the dark as the rest of us?
Lucky sods, the scheme is handled by a subsidiary of Holdings ( Scheme Co. if I recall) and is independent of Amigo loans that is winding down. They will carry on assessing and paying out for as long as it takes or until the pot runs dry. Amigo Loans is winding down and is dead as I understand it.
Any resurrection would, I assume be with a new subsidiary of Holdings. That would effectively be a new business I assume and would need to go through regulatory approval etc. Hence independent of anything going on with scheme.
Thanks Rex! Good advice Gareth, that is definitely worth keeping in mind. I'm not really after advice on whether to invest as such, it's just that try as I might I can't seem to find a plan for what will happen after the prospecting (the start of a revenue stream?) and was wondered if I had missed an RNS or investor ppt or something that someone could point me to.
Hi guys, I have been interested in Wishbone for some time but not yet invested. Does anyone know the plan post surveying in Australia? Will Wishbone be mining, leasing or selling land after the spread and density and content of deposits is known. Trying to understand the business model and how/when income will be generated. Thanks all.
Lucky, I thought it was based on volume traded and if the MMs are making enough to make it worthwhile. If this is so, then the pump & dumpers are beneficial to LTH by keeping things ticking over while we wait to see if it gets resurrected or not.
Lol. Been busy today. First time I've looked at the sp today, then 25 new messages on the board, almost got excited. Only needed your last message fforest for the low-down, thanks saved me some reading. Night night.
Scmdcyp, does this mean you've bought in/topped up then if you think it will be 1p by the end of the week?
Could be it for the day. Bit of a damp squib.
Thanks Fforest!
It's a small company 10 employees, so presumably low overheads. I would really like to see the business model that was being considered for Amigo loans, for what was being touted as a start up business, did the footprint really match that, or did we have established business overheads with startup business revenue.
It doesn't mention how much they paid for it either...
Hi Donkey, I'm not sure delisting is much of an issue if you are in for the long haul anyway, it just makes the shares difficult to trade. The important thing (challenge) is to get a tangible, funded, legally agreed, regulatory compliant business case built and delivered. Whether this is possible or just a folly is out for debate.
I assume Amigo Loans won't trade again as we have entered fall back and that business is winding down, but presumably a new subsidiary of Amigo Holdings could be registered. Perhaps, someone with more knowledge may want to comment.
Did I get that correct, under wind down the £97M is not ring fenced for redress claims, it will be used to operate the company in administration of the claims etc? Surely even just pootling along with minimal loaning would be better than that??
Cardinal, I don't know if it is clutching. Amigo loans will wind down by the look of it, leaving us with Scheme co which obviously only exists to pay out claims. Whether there is an option to open a new subsidiary in the future if the climate changes I don't know. I would like to hope the shareholders meeting will probe out any other options or potential lifelines, but who knows.
Cardinal, my understanding is that Amigo loans and scheme co etc are subsidiaries of Amigo Holdings. In fact you may have heard that the Irish subsidiary was wound up recently. The shares are in the parent company Amigo Holdings.