Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
To be clear here this a CFD which does not have any voting rights despite what the RNS states, they do not own any of the company stock as the settlement type in the RNS makes clear (cash).
I think the market has to be notified via RNS as its an instrument that can influence the market / share price.
I understand though that there is a possibility they could convert their settlement into shares depending on what the terms of the contract are.
This recently popped up on my home page for some reason, unlikely i know but enjoy!
https://www.youtube.com/watch?v=taLSSl68V3s
Interesting reading, there seems to be a heavy focus on HCSTC & HCPL and no mention of guarantor loans at all except in the "Who This Applies To" paragraph. They appear to have just lumped guarantor loans in with the likes of payday loans either out of laziness or just for sh*t and giggles!
Based on what JB has communicated to date regarding how Amigo has historically run its business I can see why he is so p***ed about how the BOD has handled complaints to date and is so confident about the outcome of a judicial review if it were to go ahead.
I had to laugh at this:
"48% of customers told us that they had to cut back on other spending to make their loan repayments" Well that's what Ive had to do when i've borrowed money in the past, its called you know, being effing responsible!
I think i remember the relationship agreement with Richmond allows him to call a vote to replace 2 directors when he's at or under 30% which he'll be at before 1/8.
I'm really struggling to find it either on JB twitter or Amigo investor relations but it has been posted somewhere...
Not sure it changes anything though
Every new set of numbers that comes out of Amigo proves that everything I have said since my first blog was absolutely true.
That includes the solution.
My hands are tied until I get to 10%, but if majority shareholders are regretting their votes, my DMs are open.
What I meant Hillman was that yes JB isn't bothered because all these cheap shares are ending up with someone on his side who will support his vote when he calls it when under 10%
I'm tempted to add more but tbh to say i'm overweight in this stock is an understatement lol
Latest :
"But, as I said, once they are gone anything is possible.
The Shareholder Agreement that they used to get an injunction against me that stopped me removing them expires as soon as my shareholding drops below 10%."
Your confusing the general meeting called by JB on the 17/6 to appoint his directors with the annual general meeting which I presume will happen on or after the 23/7.
As JB's resolutions were voted down on the 17/6 and some of the directors remained in place after that date the irrevocable instruction has now been executed and will continue.
There's nothing to interpret its clearly defined.
13mins ago from JB: "However, our faith in Glen is very strong, and once we are sure that Stephan Wilcke and Roger Lovering have left the board, we would see a strong possibility that we will reinvest into Amigo and play a part in the turnaround."
I feel that the price will top out around the 25p mark until further news in October. I'm guessing that as part of the the potential buyers dd they would have been made aware of the estimated total cost of the Vreq and the strategy of the BOD to settle it which would be to halt further lending, dividends and collect on the loan book to shore up cash.
If the 'materially higher' Vreq were to be in the region of say 96m then by October this would be covered by the provisioned cash and leave the market cap around 100m which would marry up to the proposed offer made by the buyer.
This is just a guess though, who knows what could happen happen before then.