Member Info for FrankyS1971

Hi Hunni,
Yes I take this as a good sense as to what is coming and other board members should focus on this. There are many types of scheme of arrangement and this is what I see as the likely vehicle we would use which is neatly described on this link below:
It may or may not be an equity raise and share dilution but it would, if backed by the regulator allow us to draw a line and run this scheme whilst continuing with Amigo 2.0. Rather than going into insolvency which this is an alternative too and bears out how close to the wind we are sailing!! I like you would wish that our existing shareholder rights and current deal does not get get fooked up as we may lose half our capital and be waiting an age just to get it back! might be better to buy in after all this. Not sure. Have a read.
https://www.pinsentmasons.com/out-law/guides/an-introduction-to-collective-redress-schemes

We will be asked to vote for an equity raise

Are you cool with the capital restructure that GJ has mentioned Hunni?

I will be selling before the scheme of arrangement is announced personally.

Given their are consultants in advising on a "scheme of arrangement" not one person on the board has raised this. There is going to be a capital restructure that is propositioned to.shareholders. I beleive are existing capital will go in part to pay off our old debts and complaints and another part into Amigo 2.0. Perhaps anyone her can suggest any other possible interpretation of what "scheme.of arrangement" means.

No point fightin' . Anyway i agree senator it is a specualtive punt somewhat but the point its all clear as day you ve missed a good entry. Its very much about risk and reward and what you can tolerate. I don t disagree about complaints. They are not being straight regardless.of GJs ascertations about being honest and open..its totally inversive. Tell us the complaints numbers. The FCA will have to pivot from their position and put the CMCs into somemsprt of corner.with their practices. I beleive the uphold numbers will fall and with it volumes. Next 3 months is massive. Get beyond it and there is a muti bagger stock.

You re jumping to conclusions about what i do and don t know. You ve gone from suggesting 30-35 m to now 52m. Fine i over egged but get numbers right before spouting.

You re talking cr€p.senator the debt was down by over 60m last quarter. By mid year the remaining 130m will have been cleared. The new CFO is looking at new and altetnative sources of funding ( plural) rather than reliance on 1 partner.

Thats the problem here and why we ll never be out of the woods until C volumes fall. CMC s will drum the business ip for a while. Pi##es me off as we d be away if this settled!!

I think you re still ahead of yourself. The FCA has to 'in law' go from reactively and passively allowing the CMCs to act the way they do and proactively make them vet customers and pay up for pursuing it through the FOS. The burden needs to shift. The dialogue with the FCA is all about that as they conclude investigations and actions. No small hurdle as the wound will keep bleeding out. I fancy they will likely rebalance the scales but when and how who knows. We ll get there.

Claims is the only real show in town. If the FCA and FOS dont level the playing field up and support our concerns then we will sadly not see the end of them. The cost burden has to be shifted so they manage claims vet them thoroughly ect, the same way we have to. Hopefully common sense will prevail as many of the claimants are helped to build their case on knowing what works. They are a big problem. All depends on the FCA.

GJ has nearly got as many shares as me now. Brother. :-::::-)

Even better the outstanding balance is down significantly from the 199M in August to 132M. With the net loan book down by 33.6%. (now at 485M from 730M) It looks like we'll manage to clear the funding facility with the outstanding income from the book. Another problem likely to get resolved at least!

GJ talks about openness and honesty, so what is the total number of complaints?? The one fundamental q we want to know. Nothing. Its eye popping and talks of ring fencing the legacy issues sounds dire. I doubt the FCA will allow us to segregate the debts from Amigo 2.0 hence the vreq. I am holding still but weighing this up as i think the CMCs will just keep rolling in the complaints as its so lucrative.

TBF freekick a) if success was nailed on we d be at £1 already so think risk reward b) the same was said in July but hasn t stopped a whole new board being compelled to join. Therein is a reasonable hint.

My concern which hasnt had much input is the very quick mention of 'ringfencing' complaints..that means segregating the existing cash for complaints against Amigo 1.0 requiring Amigo 2.0 to get funded via dilution. This is assuming that complaints don t go away of course which is 50/50 though pur survival looks better odds. Marginally. Massive upside makes the risk at this price worthwhile.

Hound dog reincarnation of course. Just filter the silly *******

The run rate of RNSs over the padt months suggest logically there will be several more before end of 2020. With the bad news out there and priced in, i would hazard a guess that we ll see positive news outweighing any bad news which at worst will rake over the same old known facts...on balance therefore this is likely to see a gradual rise in the SP one suspects. I d guess at 12-13p (conservative as traders will make trip bumpy)

I just wonder what 'ring fencing' means exactly. FCA have blocked that from happening without permission and we are discussing this with them. I can t see us going broke but i could see our holdings getting diluted. Not a today concern at least.

Sorry i meant to say 2 of 5 toward the debts and 3 toward growth vehicle.