Member Info for FrankyS1971

I think you ll find bybrook have bought those shares pal

Mark on the principle of their being a future for the business the extension was granted. Nothing changed yet so the same dynamic=same extension. What would be the point provided their is a compromise etc. If their isnt they can still pull the same amount back if not more as the current book is earning.

Still in but ruminating. Bondholders would quite prefer shareholders to get wiped out and FCA suggested in hearing why amigo couldn t just do that. Also not sure that a 'tweak' is whats being asked. Not sure what haircut shareholders should take at 9p?? 40m mcap so bondholders stick in 10m and we take a haircut to raise another 10m. God only knows. I m hedging that a solution will be found for all that as the judge puts it...will" balance the losses and the positives for all stakeholders".

Nebnalon - You can't release an RNS saying here's Plan B a few hours after saying there was no Plan B. This will take a few days.

Hi Trilla this is not quite correct. A restructure could mean that Amigo survives but that existing shareholders are wiped.

Thats possible Mark but I think you're even in this dark hour being a little overly sanguine. The bondholders could bully shareholders entirely out but likelier is a dilution of some sort. Gary and the BOD will do what's right for all stakeholders so the SH wipeout would have to be a real last resort IMHO. You're view is that Bybrook will be wiped out also but they bought in knowing they would have options regardless of outcome.

Hi Liquid..i know there was always a Plan B cos Gary mentioned it before Christmas and then the Scheme was announced and all reference to it vanished! As you would expect. Bybrook feel like the key here as they specialise in distressed debt. They own shares like us so can't see they bought in to then have vote for themselves to be wiped out. Its now too complex to really understand what Plan B is until its announced and therefore we're not in control whereas I felt we all knew the dynamics of the court arguments regardless of opinion. My brightside is that I'm pretty much even stevens and put a bet down with a potential big upside so no regrets. Gotta aim big and go for it!!:-))

Bullsbears - I am going through the same thought process but a restructuring could allow Amigo to survive whilst we shareholders get wiped out. I think there is enough value in the business to make a sit and wait policy the best course of action. I am surprised that the FCA want to rewind the clock back to an entirely new scheme which is another 3 months up the swanny.

A restructure is a tough one to call as now we trust in GJ to find a fair compromise. The bondholders will want to force the shareholders out but then Bybrook have taken a big position as a distressed debt specialist which feels like a debt for equity play. I wouldn't be surprise if they are taking the cheap stock available right now and building a strong voting position.

There are now ammended laws in laws in place around restructuring:

"However, the intention underpinning the Act is that shareholder equity can be transferred, diluted or extinguished as part of a court approved Restructuring Plan which makes sense in the context of distress where shareholder value is likely, in real terms, to be materially impaired, if not nil, based on the then subsisting valuation of the business"

So now we need to understand the value of the business and how you arrive at that number. With Cash and the existing book, I find it hard to see that it worth less than 20p but ....what would I know.

Mark RS - the judge said that he understood why the business did what it did. You can't call it a lie, it was just a representation of their version of the truth. It was pretty clear that we weren't going to go insolvent and that a Plan B would come. I don't think they can just wipe shareholders out and then refinance as you'd have to shut the business down period, so that doesn't seem likely. Neither can I see how the equity in the business will raise enough although of course the bondholders will not want to foot the whole bill. What I hope for is that the FCA now being part of the next proposed scheme, will also open up and discuss Amigo 2.0. Then we can refinance the whole piece. Raise 100M - stick 20M in the pot and double the amount, whilst also having funds to relend. That is far more palatable for all stakeholders involved when packaged up as an overall deal.

8000 pi s in here and n8bheads like Timmy Coles thinks their B S can advantage themselves. Bizarre or what?!!

The thing that is .ost laughable is that if the SOA got turned down it would be because the judge has irrefutable quantitative facts that the business isn t going insolvent thus rendering the question posed to creditors as unfair...so..erm...the business wouldn t be insolvent then would it.

You didn t and cant upset me TC i just call folk out for what they are. Usually you know you ve hit a nerve when they use homophobic slurs and blow kisses.

As per ninja, Mark, fundraise wasnt seen as practical because of VOL and because its planned for once SOA is dealt with. That could be a line of course by the lawyer....the party line.

No TC i m not a pr*ck that spends their time ramping deramping being told theyre being over the top annoying folk and carrying on regardless in some deluded belief that of 8000 retail investors in this stock you somehow hold enough sway over enough people to advantage yourself. You re just a t!t. And from reading your posts on other boards a t!t that loses money.

Mark- you seemed to have missed the biggy which is a fundraise..ah hang on...that what you mean by refinancing i assume?..plenty to continue volatility in this stock.

They might make us sweat for another few days i think.

Its easy to forget with the noise the clutter and confusion. But here s an interesting fact for everyone....
95% of creditors want this to happen-)))

1. SOA allowed to pass at 20% future profit.
2. Amigo 2.0 given clean bill of health by FCA
3. They fine us for mis-selling and the fund raise covers the fine which also goes into the pot and the money to get the business relending.
Job done.

So r8ddle me this Toe.1 why do SOA s therefore even exist as a construct. 2. Creditors haven t voted to get nothing. I don t think much of your gut. Have you got the trots?