Member Info for FigTreeHarry

TimmyC,
(Not sure why you were on my Filtered list, maybe from early days so apologies)

I might break a rule an add Monday, as this is positive reaction to the PI’s demands and for the wider market as you put it sentimental value. If only they posted this before in this fashion mid week. I think they have clued up to the fact their RNS was not a good idea after all.
Can’t make this up...
Investors mood is lighter going into next week. Amgo is most definitely not disappearing that is a given.

Hi Amjad,

You might have a point, if they are cleared by FCA and some extra guidance is added, I am for that anyday as will JB or GC, both.
Maybe CFO might have done a fair job is saving face. On the long term and FCA getting a fair review.

If anyone has any specific questions they can email Amigo FAQ this weeeknd.

Hi Mark,
My takeaways from the Amgo FAQ on website. Agreed they cannot give out sensitive info unless via RNS subject to rules. They are answering to all the derampers and naysayers and confirming elements we know but lost in the past 2/3 weeks. Its been Pro JB for weeks now. A rebuttal was needed. More FAQ will follow throughout week.

1. In parallel, the Board and the senior management team are focused on recommencing lending, developing the Group’s strategy and seeking out new business opportunities, all with the aim of maintaining and advancing the Group’s position as the leading provider of guarantor loans in the UK. The Board is focused on the future of the business and “is looking forward to engaging with its new and diverse shareholder base” as it commences the next chapter in its development.

Diverse = MIC Shareholder in UAE?

2. The resolution to remove Roger Lovering is unnecessary. Mr Lovering has always stated his intention to step down after an appropriate handover period, once Jonathan Roe has received regulatory approval for his role

Roger Lovering is leaving.

3. Results of AGM Vote - Same day 11.30am.
4. We welcome the recent announcement by the FCA of a review into the future regulation of the unsecured credit market (found here). The wording used by the FCA reflects the thoughts of Amigo as they will ‘concentrate on how regulation can better support a healthy unsecured lending market’. We also agree with Chris Woolard, who will chair the Review, that “access to sustainable credit is of great importance to so many people

This is VERY GOOD news for AMIGO
Right place right time. It is almost a calling.

5. Judicial Review

We have said, most recently at our Q1 results in August, and before then with our Full Year results in July, that we retain the option of judicially reviewing decisions by the FOS that we believe are wrong. In the first instance, we are working with the FOS to understand the standards they are applying and challenging these outcomes where necessary.

6. Bond Repurchasing

We have said that we will from time to time make opportunistic open market repurchases of our outstanding high yield senior secured notes outside of a close period. We will update the market with any repurchases that have been made over the period with our half year results in November.

7. Lending to restart by end of 2020.

Morning Maverick,
(..Woke up with a smile this lovely Saturday morning)

Spot on Maverick, GC whether he stays or goes, he will be forced to serve his notice, just like Hamish. 6months min. Lovering will be gone. CFO might also lose, if so also serve his notice, if replacement is found. Its a recession so likely will stay to serve notice.

There is a mention in FAQ about working with new Diversified shareholders and new business products.

You can still find a genie in a bottle , roll up on Sunday on Bournemouth Beach, but hurry as they are in demand!!

I would be 100% down had I left my investment in TLW. Selling at 32p was a good idea at time.

Hi Mark,
My average is 10p, not adding now as that will make me lose my average. I’m content you’ve made a decent batch on this already. I have to see this through to G Crawfords break-even point of 32p. Else he is as stupid as me to invest without a Return.

Other opportunities out there but careful as Covid 2 - globally is about to hit us like a sledge hammer. Covid 2 - A co like AMGO benefits which is why I will stick with it.Lending will be in demand. However Travel, Airlines, Oils and other will decrease once again.

The FAQ is a single response to all the specific questions. A more balanced rebuttal after-market for specific reason.
The Battle for Amigo Loans continues...

#hunch

Mark,
Stay with your humch.
I got out of Tullow at 32p and put the money into AMGO.
Look how that decision turned out?

My game plan is strict on AMGO, a half a dozen of major trigger points between now-Mid Nov -60 days away. Plus - Covid season2 is a saviour for this Lending Company
GL

I can cover Twitter, don’t need to be a member. Done Farrraway.

Rebuttals starts tomorrow/ Sunday.
If he wins in an orderly way and a humble response win or lose. That is what we want all investors will seek.

1. In parallel, the Board and the senior management team are focused on recommencing lending, developing the Group’s strategy and seeking out new business opportunities, all with the aim of maintaining and advancing the Group’s position as the leading provider of guarantor loans in the UK. The Board is focused on the future of the business and “is looking forward to engaging with its new and diverse shareholder base” as it commences the next chapter in its development.

new and diverse shareholder base
= MIC Shareholder in UAE?

Any views on this ?

So now we have to watch Amgo FAQ’s, Tweets, RNS’, blogs...

Can you imagine if we busted 50-70p again by Nov.

I think some will get out at 20p due to mental health warning on trading.

Others will slice at 30’s

Exprus - will hold until 10years

I’ll take 50-70p and slice more.

Above 12p I should say sorry!

Moses,
If we open at 12p then the last 3/4 days make Fsense. Thieves.

Yep, most definely!
Or an opportunity to buy more.

I think the info was known since presentation.
In order for lending to restart in mid Nov. New system codes have to be approved and implemented before lending commences. I assume that is why you have Mid Oct - FCA Vreq deadline. Deadline is met. New scorecards and lending process is approved and signed-off by all stake holders incl IT. Dept. A no of parties are invollved. Before lending starts.

Farraday,

The big question is have they overstated the provision for a reason? And what is that reason?
Will they share that reason?

CFO was asked the question but he didnt answer the question in the presentation. Is it for a fine or is it overstated deliberately as a precaution? Or will it be utilised?

I have no F. Idea.

What I do feel reassured is by extended deadline by FCA (VReq) to resolve all backlog of complaints by mid Oct, which CFO says will be met.

In 30 days all back log of claims will be dealt with.

remember the claims are to do with past for a period of 15 months?
Current lending is approved by FCA since March. New lending to masses is in progress to be approved with new scorecards, systems updates. I’s say by mid Nov.