Member Info for FrankyS1971

My brown kaks tied to the mast

haha...10p...that ship sailed!!!:-)

Anon...it will take 2 years to set the scheme up and run it down so of course lending will happen alongside the SOA but that's a long road....unlikely we'll be relending until May/June. For those in at 10-20p you can either sell and get back half your capital or hold and trust that it gets turned around come the summer. Things are bleak now and will remain so I'm afraid. The next news which will be positive, is the FCA giving new Amigo a clean bill of health and supporting the scheme. This will happen before end of March. I don't know if the SP will inflate in expectation of that but I suspect in the absence of any positive updates it'll drift down. The chances of the FCA not approving this are low as GJ and the team are in constant talks to resolve this and you have to trust the team.

No.Anon...when they say "we are not going to rush the future" it means they aint relending anytime soon. So no news got lost it was stated.

It would only fail if the changes proposed are so fundamental that it can t fly which my gut doubts. Also the schemes success hinges in relending to bump up the pot and so the FCA has to agree on the compliant processes. Therefore you will find both rhe SOA and relending work in absolute tandem and will happen very closely together. People on here have not explicity understood that.

Having read the RNS a few times, some minor observations, namely, it is a requirement that the FCA reviews the scheme proposals with an independent advisor. Its not that they are blocking it, its an actual legal requirement. Secondly, the tone. They are clearly working and collaborating on the right redress models and want to take the FCA s recommendations on board. That is why there is no letter of confirmation. Its a timing issue. Finally, the board aren t postponing the court hearing as they believe the issues can be ironed out well enough in advance. That by definition tells me that the issues are not sizemic but far more likely to be adjustments to satisfy the FCA rules. I therefore think that they imply the FCA are more likely than not to back it once they have had their say! If they back it, the rest is a shoe in.

Schalfen...if you re-read the RNS there was a bit about Amigo questioning the validity of the SOA without FCA backing. Therefore it will get pulled if the man from Del Monte doesn't say yes.

If you get 2p it'll be going broke and you can still lose 100%. Agree that the future opportunity may be shrinking. That depends on the FCA licence and approving whatever the new products are that Amigo have in mind. Any form of regulated lending is going to be a winner in this market, so happy in belief to believe that Amigo will find plenty of growth opportunity.

Actually no Senator its more complex. He can back them into a corner as the threat of receiving nothing is real and a very good stick to hit with. This is more about putting sheep in a pen and giving them only one way out.

No shares are going to get bought. This would look very poor to all parties right now. Rather ****y to do it during such a sensitive phase.

That much is for sure Malgorzata! FCA hold all the keys and so once the calculations for redress and voting rights are agreed, then i think relending can start pretty soon after...SOA and relending will happen very quickly together. If the FCA and Amigo can t agree..then not sure what Plan B is. There will be one but most unpleasant i imagine. They can t allude to Plan B until the SOA opti9n is dead and it clearly has legs.

Re : 5 to 15% of future profit. There is only one party involved in that side of the negotiation and its the FCA. That there is still no approval does underscore how beligerant the supervisor is over fairness and so the 'expert' i believe is there to deconstruct the efficacy of the formulas involved.in calculations. I really believe that the remaining arguments over fairness are to do with final tweak IMO. The big picture of an SOA has been agreed or we wouldn t even be this far in.

Exactly. Take the future profit and median range of comp pot and average redress would be more like 220-250 quid. Making a vote a shoe in.

Blind suggested 1-2p in the pound and 10 quid per person. Surprised you want further input from him.

Filtered. Don t mind negative posters at all but don t just invent crap.

There s no point coming up with stories Blind. You are just another fantasist who shows his lack of ability to think and i have little interest in your posts therefore..redress is not a fixed number for all. There are different classes of complainant with different calculations which are being finalised via the FCAs chosen expert. Not all will get a level amount as you suggest and it won t be 10 quid either. Bell end.

The FCA restricting business going forward impairs the ability to compensate old customers. What a blinder. FCA are nicely cornered here. Also moving assets into new co under the vreq needs their approval so hard to believe it won t come.

But we did know. We knew customer complaints would likely overwhelm the business and that a finite ringfencing plan would eventually emerge?? Look back at my posts. I was and remain happily vested and bothered by the panickers. This was always 6-9 months. That was the window i assumed when buying in July. There is a very high chance of the SOA getting over the line. GJ and team are playing their cards very well. Its a high stakes who blinks first poker game.

Absolutely correct. You would never offer a Plan B until Plan A is exhausted.

As I stated the delay was around negotiations and as also suggested 5% was never going to hold. The major positive is that the current rights of shareholders will remain unaffected. Shame the FCA not in a posiition to sanction this yet but they will do in time. If one group of complainants gets more through redress calculations then another group will get less so its becoming a hair splitting exercise. Blinding idea to offer 15% out of the future. If its unfair let us relend to make ammends. Good chance this sticks now the pot has gone up.