Member Info for FrankyS1971

That is a danger i agree gruntie. The argument is that they are all the same class cos they all get nothing with insolvency. What we know is that the court won t let us go insolvent as that is the whole point of convening in the first place. FCA not blocking either so even if there are adjustments and or delays there will be a vote and likely a company at the end of it. Am sure it won t be plain sailing. But any delay is no good for customers either.

I heard it would happen during the court process, so, as it runs its course..i m thinking late april. Rns s will come thick and fast with a bit of whipsawing of SP but overall the trajectory will be one way now IMO

Hi westdev....thats a bit wrong about lending timing. That will start in April alongside the SOA process which is clearly stated by GJ as the intention and i suspect will give many folks a nice surprise.

There won t be dividends until 2023 gosia. Senior secured notes of around 200+m need paying back then the complaints pot and also a capital buffer we ll be asked to put aside...we ll use the rest to build the business up

CT I can only apologise. Now you ve spelt it out it all makes more sense. Its obvious people with no real complaint and offered a 150-200 quid will not vote yet alone vote yes.. I really appreciate better that the people who hate Amigo in their 10s of 000's will rather vote no then get cash as well. I am selling first thing on Monday and advise everyone to take CTs advice. Hmmm...actually CT you re a class A tw6t who can t see the obvious because you choose to behave like a total bell end. Filtered.

CT ..i ve written and redited a message and just cant be bothered. All i ll say is there s no helping some people. Just a question. Do you think people who feel neutral and don t much care about amigo will go on to Trust Pilot and write a neutral review? Do you think anybody loves borrowing money and will write how wonderful the experience was? Finally. If i paid people £200 quid to vote in a general election. Would they? The turnout is not much over 50% so do you think the numbers would go up or not? Use your fhuking loaf man.

Its no longer a coin flip its about 80% / 20%. In our favour.

Agreed Jonno...as long as there s a business the other side of this, the rest stops mattering as we ll just create a growth model that JPM and the others are happy with.

I think the curve ball will be this. FCA will require a capital reserve built up so that if this happens again one day, the correct level of compensation is in place. If 20% of profit goes into a capital buffer and 15% to the pot, it will keep us neatly in check and tightly managed with no huge profits getting dished out to shareholders which would leave the FCA open to severe criticism. Will keep a lid on growth and the SP.

Cheers Kuurj..am just on amazon looking for a heat resistance shield and seat belt for the blast off:-))

No probs Jonno - your logic is sound. if you read how the court operates in SOA's - its procedural . With the FCA not opposing it but "raising concerns" the court will listen but intervening when the main opposition is removed would be more than odd - I think worst case the court may ask for Amigo to squeeze more pips into the complaints pot. The danger was if the FCA objected over customers not forming one group and arguing that their are different classes of customer and vote and therefore redress. They have concerns (and so they should quite frankly) but don't want the legal battle which would have turned this into a mini judicial review . Exposing them to reputational risk in a sensitive political moment when they're under the cosh - they don't fancy that - not least when the need us back supporting the economy as per the Woollard review.

MK - There are big buyers in the background and the MMS want to get available shares to fill orders. If they don't get them from a 10% drop they'll drop again and keep shaking the tree, taking out stop losses and hoover up what they can. why worry over a 20% drop?? expect many more of them as this reflates into the summer.

Hi Jonno, by effectively not blocking the SOA the FCA are tantamount agreeing to be our regulatory partner going forward. This removes a major obstacle and paves the way for relending to start which will happen between the first court meeting next week and the creditor meeting later in April. There will be more FCA updates by then around their investigation. April will be a busy old month with RNSs! this time they ll be largely positives at long last IMO.

lol..they're little themselves beevorma tbf...:-))..anyway..for them folks worried about the vote...the people with the biggest and most genuine grievancies against Amigo, they have already complained and been paid out - at that point the uphold rate was over 90%..then the CMC's motivated the next large tranche of complainants who felt cause to complain but reactively not proactively. i.e. less p8issed off. We know this because the uphold rate started to fall. Some of them have been paid and some of them haven't. Then you have the next level of folk who form the majority. They have been wandering to themselves: shall i complain, how do I feel about it, is it worth it, do I really have a case. These are the vast vast majority, Think of a bell curve and then think how quick the uphold rate would start to fall. These are the guys who will take money for voting and Amigo know it. They're campaign is "vote yes for your money". Its rather simple to work out. Will more people vote no out of spite because they hate Amigo and have principles. Or will more people want £200 for a box tick exercise? When you break it down there isn't an argument just cold and clear logic.

I totally agreed with you that there was TBF!! Once these claims mgt companies get their hooks in there is never a way back! Unless of course the FCA were the ones that created the saga and every industry insider knows it!:-) What would be irresponsible is not absorbing all available information and opinion, then making your OWN decision. If I tell you little green men are going to land in your backyard and chop off your co5k would you move to another area??

By the way of you d like the logic to shoot down Beevers happy to share.

Beevorma so far and because I am entirely egotistical - 1. I said it would take 8-9 months to sort in August 2020. 2. I was talking about a scheme of arrangement weeks before it was announced and even commented on how you pull in all the past customers who hadn't complained...go take a read from posts through December. 3 I literally said 10 days ago that the next RNS would say "the FCA neither support or are against the SOA"....um.....hey presto....so i think i have a reasonable licence to share my conjectures..they don't come from a crystal ball they're just built on logic. And by the way Beevorma, i have every single penny on this and sleep sound at night:-) Look on my email as encouragement for those who are full of fear and doubt to come out of the light and prosper. Amen soldier and hallelujah lol!:-))

Beevorma - the SOA will be overwhemingly supported. Period.

£1.00 Won't happen "in a few months" well it if common sense has much to do with it. 1. Bondholders need repaying. 2. We have to raise new and varied forms of finance 3. We will have to hold more capital as a buffer against this happening again (an RNS of that like will come. 4. GJ will want to build this up carefully so expect a slower build up over a few quarters before handbrake really comes off. With all these weighing on the business along with what I think will be 20% of future profit. I'm seeing 50-70p by year end. Further Mark - target might be 40p but it has to stay there over 5 years so I don't see this being GJ suggesting it'll take a few years to get to 40p - this is a signal that he will make sure the business doesn't make the same mistakes!!

Well...i m getting at least 10pts for hufflepuff. I wrote this rns a few days back lol...the fca dont support it bu they wont block it either. Boom