Member Info for FigTreeHarry

Gary Jennison:
Role for Chairman of AMIGO position crossed my mind, seems Lovering duties have been passed to new Joiner his duties have been divided into Chair of Risk Committee. See below announement.

Gary will also take over as Chair of the Risk Committee at Amigo from the current Chairman, Roger Lovering, following a suitable handover period and his approval for the role of Chair of the Committee by the Financial Conduct Authority under the Senior Managers Regime. He joined Aug17th.
FCA approval takes 6 weeks.

Roger Lovering, acting Chairman said: "We are delighted to welcome Gary to Amigo and the Board. His tremendous commercial, regulatory and public listed experience, including with customer focused businesses, will be a valuable addition to our Board."

The offering to pay higher price say 26p-30p can be applied if he so wishes for 29%. It is not off the table.
Shares can later be also bought from allies, which is not off the table and not illegal in anyway, as lomng as he pays the agreed price they are then transfered to him.

It is all win win win for holders.

Thanks Maverick.

Reading between the lines this 2nd vote will most certainly be the “removal of CFO and Lovering whatever the outcome now”.
I say whatever the outcome as I expect it now. As PI’s have a say in this now.

Not a single support for these 2 pieces of old woodwork.
Am i wrong anyone for Lovering and CFO to remain??

That settles that theory.

Jb:
There is a requirement under the Takeover Code to make an offer to take the company private at 30%. We are not currently planning to make an offer to take the company private.

ExP - AMIGO hot broth simmering nicely on its own.
Resting today, back Monday:)

Good weekend ya all...

Other points from Presentation:
- Early settlement collections were 10% higher than expectations
- Collection rate was 86%
- Q1 end of June: £6.1m provisions used complaints payour/ settlements from provisions pot.
- Amigo loans is now one of the largest guarantor lenders 85% of market.
- Payment Holidays for customers - 3-6m includes interest chargeable.
- Policy reviews on: new scorecards, credit rating, technology updates, risk appetite, lowering risk. To be announced.
- Low gearing
- Funding, liquidity and cash reserves, amigo has turned a corner.

Feel free to amend where I am wrong please.
FTH

Yuri,
That’s where new idea’s for new exciting product offerings and international market expansion (outside FOS/FCA jurisdiction) come into play, afterall they do funds have unrestricted cash reserves. A lot of revenue to come in the future. JB clearly sees as prioirty to lower debt thus reduce risk levels since begining of the year as part of his plan, in returning to AMIGO. A few weeks ago back in June my understanding of the goings on since last Oct - June were still questioning JB’s motives and action to return. However, I have done a lot of research into JB and every source I have at my disposal to do research and I fully back him to return. The last 4 weeks it could not be more clearer with all this new information / tweets and listening to CFO who needs to go and why we are here.

Vote Captain Bournmouth JB in to steer the ship to new shores.

Morning NurseSteve,
Hope your chosen line of career is treating you very well. As you quite rightly say, the pressure on the sp from Tuesday onwards is leaning on buying by all fronts. Whether it is Directors buying, JB in days to follow, other Inst and fellow allies of JB and Pi’s.
The results were ok, and no new surprises.
Re rating is begining. Whatever and whoever is in driving seat.

JB TWEET:

f I had been more statesmanlike, Hamish would still be CEO, and Amigo would have paid out at least £300m more in loans that it would now be full throttle refunding and writing off.

Your investment (if you are a shareholder) would be worth zero.

(THAT TELLS YOU EVRYTHING)
- WHISTLE BLOWER, removed Hamish and saved AMGO

JB NEW TWEET :

In Jan when I was warning the board they told me I was disturbing the company.
In March people like you told me I was acting like a spoilt brat.
Then everyone realised I’ve been right all along, started listening to me and I’m a ‘rockstar’.
@JamesBenamor
·

2h
Replying to
@SenatorGPH. and @BillInnes13

Agree all debt needs to be paid down ASAP.

I was pushing for that in Jan, and I went public with it as a core demand in my first blog on 4th March.
Debt is Amigo’s biggest risk, and quickest win.

Sleep well all!

ADG

EITHER WAY IT IS A WIN WIN - THE MARKET WILL REACT

IAG:

Yep loan book is down because of no new lending but look how much the provision is as a % compared to IPO.

net loan book has only shrunk so much because of the provision against it,
Q1 20202 - Net loan book £553m / Gross loan book is £650m.
2018 when it floated - Net loan book £647 / Gross loan book £680m

Is the (~>£35m) VREQ going to be taken from the provision in one chunk and show up at a later date in Q3 results?

Presentation: Provision used for Q1 only £6m- your thoughts?

ExP,
You must be excited as a dog witha bone, for next season to kick-off plus you have amgo?!!

Now how’s the AMIGO BROTH?
Enough to go round on LSE AMGO?

Good poits IAG:)
FAT FINGERS..

IAGAME,

to be honest I have zero faith in any company for a long term (>5-10 year) investment, all it takes is one scandal, regulation change, pension issue, or be a target of a rich fund that wants to short it to death and trigger bond covenants and you can lose your entire positio

The landscape changed, nothing is forever now.
Amigo hits £1 daft not to take it from these levels.

ADG89,
I suggest you do some deeper research.
How is PDL btw? Again research...

Hunniford,
Good to know you are patiently invested. Agree trading long/short this is too stressful unless you have additional funds to play around with/ lose. Easier shares out there to trade, but thats for another day.

This week revealed:
JB is for real who ate humble pie and responded fairly in our interest.
GC acted in a wreckless manner depleting a rising share price by 40% by dropping a grenade (to borrow a phrase from H73). It didn’t impress me at all. He’s not indispensible and not above the Company either.
Its a PLC and Shareholders and Stkeholders must come first and the fair deal for customer (yes satisfy an evolving a Regulator, but collectively challenge where pushed too far? They are human resources and make errors too.
- 20p has a history reference to refused offer of 21p by JB - responding it’s worth 21p x 5 =£1.05
£1.05 = Mcap - £500m
- Selling down to final 1% and countdown to next 7/8 days cut-off date and another stepping stone to restore investor confidence.
- The £100m+ provisions set aside -for full year seems oddly over-exagerated. As only £6m? were used in q1?
Nayar could not answer the question as to why set so high. Will the provision be revised down is the question on PI’s thoughts. Regardless a cryptic mystery to takeaway.
- If JB wins, he buys the unwanted stock at 20p, but will add value by further reducing the debt.
He wants to fast track back (into FTSE 250) near IPO levels, according to Tweet. Assuming he means the sp, else what else?!
- Lending - maybe to do with “evolving chnages in new FCA processes” refering to the Regulatory piece. (sector wide)
It maybe some “internal system new software code” updates have been requested which require functional testing, referencing the technology changes he hovered over?
I think it may start Oct end/ early Nov as you say.
FTH

- *Country house

FLETCH,
You will be quietly planning this weekend, how to win over the country fridge door now...hahaha

The competitive soul within has been hit.
Enjoys de weekend!