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Amigo ShareHolder Action Group. I suspect the initials got blocked for the last 4 capital letters...
My only nervousness is that I think the wind down option is also better than the previous scheme, so it's possible some people will lean that way out of spite, and still be better off than they were before.
If the wind down isn't better than the original offer, then I'm wrong and all is well :)
Yes, overwhelmingly.
Free money vs no free money.
I still think they should have to return what they got with the loan though. I have no quarrels with a refund if missold, but you shouldn't then get the benefit of the capital too...
I hate being right. I'd much rather this was hitting 10p.
Why do you think it'll rise so much?
Who out there is sat waiting to see what the Judge says? It's pretty much already factored into the price, surely....
It's not exactly much of an unknown quantity.
No it hasn't.
Two reasons;
1) The SP likely already took into account the approval to proceed from court.
2) We don't actually have the approval, we have a comment that the judge is 'mindful' to approve.
We might jump a bit when the next RNS comes, but not much has changed. A hurdle will be passed, but it's a trivial one that nobody ever expected to fall at...
Permission granted to proceed to the next hearing.
Not expecting anything else.
The one tomorrow is a formality. The next one, however...
Let us not forget that the FCA weren't going to oppose last time, either.
I wanted to buy in this morning :( I'd planned to get back in before court to see if I can reduce my average and make a bit. Ah well!
Will is the more appropriate modal verb. Unless of course we're referring to a past event, in which case I agree it's would...
Only a lunatic thought this would just keep rising.
People will sell, then people will buy. I know a lot of people who bought in at 2p and just cashed in at 4.5p - quite happy with their 100%+. They all did it to make up for their losses though!
Hopefully it'll come back a bit, but it's always going to be super volatile.
I guess we'll never know what happened with the CFO, but the sudden exit after a massive share price crash did feel very reactionary...
Hopefully their LTIP suffers the same dilution. Wouldn't exactly be fair if it gives them the post-dilution shares.
I think people had crudely worked out their own dilution calculations.
EG: If price is 50p, only need to dilute 2:1 to raise enough money (I've made that up, you get the idea though).
This RNS says it will be AT LEAST 19:1 no matter what the SP is.
Precisely.
The SP rises on news, or speculation that news is imminent.
The SP drops on the absence of news.
There is currently no news...
SOA2 and how they have delivered it successfully to the FCA.?
- Probably high level information about it having been submitted and a hopeful timeline for delivery, if passed by FCA.
New lending mechanism, loans and rates they are about to offer?
- High level. Maybe. It's commercially sensitive and, without the SOA, serves only to give ideas to the competition whilst offering no upside to Amigo.
Dates for lending starts again.?
- Not a chance. Not unless the FCA have given approval which they've said they won't do until the SOA is agreed by the courts. So just can't see it. No more than a broad "we hope to resume lending in Q3" type statement.
They've been quite open that they're rolling out lean six sigma across the business. Could easily just be a training exercise.
It's just results.
The presentation will be because of one of three factors;
1) SAR now have more professional backers so need to behave more professionally in presenting results
2) SAR have good news to share that they want to share with the world
3) SAR have bad news to share that they wish to polish with a presentation
My money is on 1 or 2. Leaning towards 1. But don't dismiss 3...
Ah good, straight to name calling. The sign of an argument lost before it even began.
Have you read the letter?
March letter;
The FCA recognises some of these concerns are matters for the Court to consider at any sanction, rather than convening, hearing, however the FCA is raising them now for completeness and because the FCA does not anticipate direct engagement with the Court during the Scheme process, should it proceed (although the FCA reserves its right to do so).
May letter;
The FCA considers that a fair compromise could have, but in this case has not been, proposed to Scheme Creditors to vote upon. Therefore, and in view of the particular concerns stated above, the FCA has decided that it intends to appear at the Sanction Hearing through counsel to oppose the sanction of the Scheme, even if approved by the requisite majority of Scheme Creditors, on the basis that the Court cannot be satisfied that the Scheme in its current form is fair.
The FCA did their job. I'd love to hold them responsible, but we can't. They are one of the few parties that actually did their job (unlike our BOD).
Yep, that'll be filed in the bin. Especially when the complaint holds no grounds.
I'm sure GJ and the wonder BOD said they'd be announcing the scheme within a couple of weeks, at the investor presentation? Was that a fib?