Member Info for FrankyS1971

Nayan being thrown off Bournemouth pier with a heavy sack of complaints tied to his legs would have been a better RNS to be fair.

I agree with that Seamus. I think there will be new CFO imminent and also another BOD member on way in. Maybe a Risk and Governance leader or senior Compliance officer..if there is news that complaints are levelling off and collections robust we ll see 12-13p

Sh€t that sounds bad aciatan! Poor fella. Expru...seenif your daughter likes the skinnytan product which you can buy from boots. They have just moved into Australian market and that will be a massive cash cow. Under good mgt when rationalisation of product lines comes it ll be hugely profitable as performance.of skinnytan is buried under loss making products. New CEO will make an instant leap on SP and give this 12 months - 2 years you ll do very well. Good luck pal

1000%. All part of the JB fall out and predicted. Timing is interesting without a successor as yet to be announced.

One small concern was that with Nayan going, might be because they know the numbers coming would make his position untenable so they are getting in an early blow to head indians off at the pass..

Mark i m sorry to hear that. There will be other days that are opposite to today so hang tough. I was given a good mid term tip a few weeks back and am getting to the end of reading up about it. Go and read up about innovaderma. You ll earn it back over next 12 months. DYOR.in brief Skinny Tan product successful and sales of that now ramping up in other countries. They have other products that are loss making. Before christmas a new ceo will get appointed and he will rationalise the portfolio and turn around the business. When that appointment gets announced the city will start to cotton on.

In other words the FCA have yet given guidance. Meanwhile NSF are dishing out more loans with poor governance and more trouble. There won't be an equity raise as guarantor lending "as was" is a dead product. This area is going to get superceded by a similar product but not until the report which will advise participants on guarantor affordability ratings, processes etc. The market will change not just carry on. Meanwhile NSF have to carry on lending with the old governance structure that got them into this mess to start with. MADNESS! They have no choice but to plug the £££ gap but its actually delayed suicide. Honestly 3p is better than 0 p.

Oh dear Mark73 and Vela. Ouch.

It would be very difficult to get a quality FD turn up if the business was still on the endangered list. It will be interesting to see the calibre of the hire.

Predicted/predictable. There will be another addition land with better news. The new FD will get clearer water to enjoy.

But that was a backlog they were working through...? Truth is we don t know because Amigo is keeping usnin the dark. At least 150m means nothing...it might as well say at least 5 quid....my guess is closer to 170-180m in the end.

Thats a good point!! I guess any complaints in july, aug, sept and oct would be outside...?...plenty of advertising by the CMCs we ve seen...its going to be at least half again surely...?...

The misnoma some are making is the complaints held within the vreq are seperate to the additional complaints that have landed since the CMCs started advertising for complainees to come forward. You have 25000 in the vreq and i would guess AT LEAST as many seperate to that. Operationally turning a corner means that we are able to.process the.volume of complaints. To me this hints that the volumes are at the same level since the vreq was gotten on top of. I have no idea about the final numbers but the 25000 is not the issue its all the others that have been whipped up by the CMCs

Because if you re going for another senior role, it would be very odd being interviewed by a board holding shares in a business that you left under a cloud. Wouldnt make him as credible.

So you ll feel ok if that figure gets set in stone at 180m? I d be ok with that. Hard to know what our book looks like with rise in delinquencies and Covid but seems to have held up pretty well. Overall feels like a stamina game waiting this out. 10p average here and jealous of the 6p brigade lol-))!!

So latest RNS was talking about an update on compaints provision being at least 150m. If we go for the update at say 200m with a guidance that this could rise. Unrestricted cash is then at say 90m. Collections fall to around 15M because of Covid and the debt facility is paid down to say 170M. How would we look under this set of realistic but bad case set of numbers? At what point do we look more like toast?? I do worry that Nayan et al are playing rope a dope somewhat...WTF is at least 150M meaning?

Sugar coating sorry...

Well GC could be selling as how do you have credibility going for a new role when you re vested in a business you left because you didn t buy the strategy. It may even preclude you if going to a competitor or similar FS firm with a substantial holding in another business? Further i was told by a senior staff member there was actually a recruitment freeze until the new CEO had decided on the strategy. The roles being advertised does not mean they are actually being hired for and they may be on ice. Anothet thought...being "operationally turning a corner" purely means that they are now able to handle the volume of complaints so no need for new vreqs and backlogs to clear. Nonetheless we desperately need to see some light at end of the tunnel here. If GC doesn t come out swinging with positive news at end of month i d be stunned, even if it means silver coating the news.

He sold the day after the announcement like a lot of people. He disagreed with the bod and believes amgo will die a slow death as per JB. Period.

So here is a question, who on the board thinks we'll ever see say 12-13p again regardless of where Amigo eventually ends up??