Member Info for E_AL

"But they've got 9,000 complaint compensations to deal with so that will take a chunk of 35M ++"

They made profit +20m in May, so do you think +55m is sufficient to pay for the complains, perhaps if we chuck another 20m+ from June to an end to this ongoing debate??

"Nikel- you’ve guessed 10p is the floor 6 times.... you’ll be the first one silent when it’s liquidated lol."

The Company's liquidity remains strong. Amigo has sufficient financial headroom and cash on its balance sheet to continue to fund operations and support its customers during this challenging time. Amigo had a cash balance of over £136 million as at 30 June 2020.

It bounced off the 34 days moving average on the hourly chart

It’s Richmond’s 1% sold for premium

Good support here & oversold on the chart , I just bought a chunk

Trades so far 251

Vol. Sold 911,795
Sold Value £50.15k

Vol. Bought 4,280,492
Bought Value £235.43k

Boydy7, he wont stop selling (irrevocable selling order) BUT if a takeover offer gets the majority of the votes then he has no choice but to accept what the majority votes for :)

Saying that, as (Invest_Share101) mentioned yesterday, today's market cap is lower that what the company paid in dividends last year , also Benamor tweeted yesterday saying [I was never going to fight a company with a >£500m fighting fund] so it means Amigo has at least 18x available cash more than its current market cap.

2 July 2020

The concept of 'air bridges' to selected nations for holidaymakers has been replaced by quarantine exemptions to Europe and beyond
Individual air bridges will be effectively abandoned by the Government, as it emerged that as many as 75 countries will be on the first quarantine exemption list for British holidaymakers.

The list, to be published today (Thur) or tomorrow, will lift the Foreign Office ban on non-essential travel to nearly all EU destinations, the British territories including Bermuda and Gibraltar, and Turkey, Thailand, Australia and New Zealand.

All 75 have been judged sufficiently low risk destinations for holidaymakers based on the prevalence of Covid-19, that their infection rate is in decline and that their data on the state of the disease can be trusted.

It means that from Monday travellers to the 75 countries will no longer have to quarantine for 14 days on their return to the UK although some like Australia and New Zealand are expected to retain border controls and quarantine for as long as the rest of 2020.

Greece, which is expected to be a "green" rated low-risk country under the Government's traffic light system, has suspended flights from the UK until July 15 due to the UK's higher coronavirus rate.

The USA, Russia and Brazil will be among countries on the "red" list where the ban on non-essential travel will continue.

The move will be welcomed by the travel and aviation industry and holidaymakers but was seen last night as tacit acceptance that bilateral "air bridges" or "travel corridors" were unworkable.

Paul Charles, a spokesman for the Quash Quarantine campaign group of 500 travel and hospitality businesses, said: "We have said all along that air bridges were unsustainable in Europe because you can't restrict people travelling in the EU or Schengen.

"It's sensible and logical and I wish we could have had it earlier. It begs the question as to why have we gone round in circles."

https://news.knowledia.com/GB/en/articles/air-bridges-shelved-as-holidaymakers-cleared-for-take-off-to-75-countries-5086fddb3785a16b51c9f97659a60af258b559ca

“ When the deal was first announced, Stobart Group, which operates the airport, said: “Stobart Group, the aviation, energy and civil engineering group, is pleased to announce it has signed an agreement with a global logistics customer to provide facilities and expertise to support the import and export of goods at London Southend Airport.

“The initial two-year agreement will see Stobart Group provide runway access and import/export facilities by converting existing hangarage on the north side of the runway, away from the south side based commercial passenger operations.”

Reports suggest the parcels are taken from the airport to Amazon distribution hubs in Basildon and Tilbury.”

Did Stobart ever confirmed that the deal was with Amazon? Because if it was Amazon then I’d like to think that Stobart did really good cargo work over the COVID-19 period, Amazon hit records targets in this quarter.

“ However, easyJet closing their hub will not affect too much as they paid only around 5k per week or less compare to upcoming progress of the flight movement.”

According to aviation expert Julian Bray: “Easy jet isn’t completely abandoning Southend because they will be flighting from Europe then going back to Europe rather than starting Southend going to Europe then coming back to Southend”

Another update I just saw on Twitter

Southend Airport reopens doors to passengers
Posted 1 July 2020

London Southend Airport today opened its terminal doors to passengers for its first flight after three months of being closed due to COVID-19.

https://www.adsadvance.co.uk/southend-airport-reopens-doors-to-passengers.html

AIRPORT bosses are planning talks to keep easyJet flying from Southend despite the airline’s decision to close its base.

Bosses at the airport say they look forward to discussions with the budget carrier about its future use of the airport.

Southend Council says it is also in discussions with the airport to continue helping the town’s economy.

But airport bosses believe they are in a prime position to work closely with easyJet moving forward.

A spokesman for the airport, said: “We note easyJet’s announcement about the potential consolidation of its operations as a result of the economic impact of Covid-19.

“London Southend Airport is uniquely positioned to respond to the requirements of safe, socially distanced travel as well as having a direct rail route from Central London.

“As such London Southend Airport continues to be a convenient and, as a result of the investment which is already under way, increasingly desirable airport for many passengers, particularly those based in London and the south east.

“We look forward to continuing our discussions with easyJet about their future use of London Southend airport.”

https://www.echo-news.co.uk/news/18552310.easyjet-still-fly-southend-still/

I think Provident Financial is still interested in Amigo and appointing Hamish Paton the former Amigo boss (Someone who knows Amigo business inside out) as managing director of Provident consumer credit division is a step before making Amigo another offer when Richmond goes under 50%

“@Specialonek:EA_L the issue is that money is being used to payback the so called dodgy loans fiasco.”

itisagame just addressed this point: Spending £10m-£20m buying the bulk of his shares (or even the equivalent to the cost of the cancelled div) to ensure that if needed the company can raise capital at a higher price to repay and meet the coupon payments for the bonds.“

Guys, what’s the placing deadline date please?

BIGBangs, even setting a date for a buyback vote before or after results will bring the share price back to a realistic level. Richmond will be holding around 30% or less of the votes by Results, I’m sure the rest of the shareholders with entry price multiples to today’s sp would support spending last quarter’s divi money on buyback

“@BIGBangs: I certainly do not dispute that this would be a good use of funds but I do not believe that the company has any authority to do this - shareholder approval by EGM/AGM is required - JB would have to agree.”

JB will be under 50% in 2 days so the company will be able to get the support they need from the rest of the shareholders to approve the buyback (or a takeover if the bidder is still interested in the company. - according to JB’s tweet he is: [We were contacted again on Tuesday of last week by the buyer. ]

“@itisagame: Spending £10m-£20m buying the bulk of his shares (or even the equivalent to the cost of the cancelled div) to ensure that if needed the company can raise capital at a higher price to repay and meet the coupon payments for the bonds.“

I think it would be a good idea and in our best interest if we all email the company and suggest the above.
Amigo Holdings PLC: investors@amigo.me

Kate Patrick Head of Investor Relations

Investor Relations

Hawthorn Advisors: amigo@hawthornadvisors.com

Yep, it looks like we'll end in blue today, hopefully we hit the turning point today & we'll see some recovery in the sp trend tomorrow

Tryingtomakeit, JB is not offloading his shares to the market, according to him he is selling his 1% to the highest bidder. Personally I think its an inside job and the market wont touch his shares. Anyway once the 1% block of shares gets off the ASK the sp will move because of the small number of floating shares in the market