Member Info for FrankyS1971

Yes vinson i know you re billy big ****** with your holding and like you in for at least a few months albeit not sure about more than a year. We ll see .

I don t know HH. This is what i d like to work out so thanks for posting that. I m just wary as i don t want to get locked in for 1 year or more with no alternative but to stick. mgt can afford that luxury but not me-)!

No i don t beleive that Vinson. I have 1.2m in here so think its ok to be counter intuitive and not just accept whatsnin front of me. Sorry if that offends anyones sensibilities. I have also managed to get a convo in my diary with the head of process improvement at amgo and will post if i drag anything useful up.

I m not trying to shove it down anyones throat i just want to listen to good input FFS. I m still holding and looking at this from every perspectice and seeing whos got good input. If you want repetitive read all the back slapping about someones missus putting a massive 10k in. Theres a lot more of that.

Thats fair point but no ceo is purposely going to destabilise the business by saying' by the way guys we re restructuring our capital and it may affect your holding'. No. They ll treat us like mushrooms. Feednus shi% and keep us in the dark. As always.

Well Vinson, all neat an tidy points. I've banged on enough about it without stoking any real input - so lets have another go boring my fellow posters!:-))Myself included - no on has a real clue to provide anything meaningful here so its easier just to blank what I'd like to challenge.. What I believe is this: 1. Amigo to negotiate Collective Redress pot with FCA - this is an agreed compensation limit and timeframe so that there is a ringfenced scheme to free us up to carry on trading. This is a better alternative than administration and insolvency as we can launch Amigo2 .0. whilst shelling out cash for complaints. 2. That redress I believe will be way above the current provision and will require the business to issue more shares or raise funds in a way that I don't understand but will ultimately affect our share holdings and value. Why do I think this. Because the breadcrumbs are clear in the HY report. The Provision covers complaints from "an event" as they describe it, but may not cover all future complaints which are unknown. In other words Pandoras Box has been opened and a stack of claims pre- November 2018 are now in flight (clear from reading complaints online like debtcamel etc). 3. Vinson - I believe the reason all the Director Buys are happening is because these guys are in for a 2-3 year haul to turn the firm around and over that time frame they are going to get a return. BUT I also believe that if there is a material effect on current shareholders in the short term. This buying is a very good way to say "hey guys look..we're all in this with you and stay vested like us for the long term. It would destabilise the business very badly to see a sell-off and share dumping so don't expect all the truth laid bare.
In other words this is about how long you are prepared to stay in as there is probably going to be a major road bump in Q1. To me it feels very naive to think that complaints get dealt with and then we start lending bish bosh bash. Vinsons bullets are very simplistic and neat but these turnaround specialists exist to restructure capital and operating models, otherwise why buy that level of expertise in?! Capital restructure -- anyone with any knowledge or input at all on what and how they can do that without our class of shareholding being unaffected I would massively welcome.

I beleive that this share does not behave how you think because brokers work against our interests amd will be using some mechanism to short against all the buys. When they have to close their positions this will jump to where we thought it ought but not for a week or two!

So much green filters - surviving this board is like takeshis Castle for amgo holders

Greatcrested cant believe youre deramping. Filtered. Jokin-)

I think they should put their wives in the company not just their money. Doris Jennison can get on the phone and tell the CMCs to do one for starters. If anyone is unsure about what a CMC is its cu%ty mercenary cun%ts.

Hopefully this is consolidating at the new level which is still 60% more than a month ago. Still think 12p+ by year end

Absolutely. Same pattern and mms manipulating prices to to make more margin. Another day or two and it ll all change up again.

True dat Twisty

Do you mean the positive news about this being under serious threat of being a going concern?? Its a bit like going to a cancer victim and saying..good news..you ve won a holiday. This share goes nowhere until we know there is a way out with complaints. This is a binary event. Either we do a 3 way negotiation behind the scenes with the FCA and CMCs who agree to a collective redress scheme which is finite both in time and value or we will never survive the onslaught. Believe it. Even the broker the other day at Numis said "currently the FCA favours the CMCs more" so they need to address this. When we get news on how to draw a line under the number 1 legacy issue we cant move on. If sorted then yes, the director buys and facility and the hires are all good news but the backdrop has to change or we bleed out. I d say this is a bit better than 50/50 in our favour as reflected in the bond price and our C- rating. 1 above junk bond and administration. The guys at moodys etc are way smarter than anyone here so would incline to agree with them. I m in her for 1.21m shares and having a massive gamble but lets not pretend our capital is at serious risk.

Oh yes dprogerson this share will be static for months. I d go and invest elsewhere for certain.

I wouldnt consider it to be a confident purchase. I would consider it a sugary pill when he comes to shareholders with the complaints details so he can play the solidarity-we re all in this together' card. Smart.

PS Senator et al. This doesn't mean the SP can't go north in the meantime!

Toger - I reckon you won't be allowed to 'top up' you'll have to re-apply after say 3 months for a new loan as a safety valve.

Senator - agree. What we have been told is not the whole picture. The consultants review was that it wasn't systemic but if you read through some of the FOS findings it is clear that some internal processes under certain individual cases are broken, so to me the complaints could go back way before Nov 2018 and at volume. GJ has effectively left a breadcrumb trail to say this, along the lines of " the provision covers complaints from an event but not all future complaints" in other words from Nov 2018 and the vreq complaints are covered by the provision (the event), but this has raked up loads of other complaints and the provision doesn't cover that. (not a sytemic issue but lots of other cases with individual merit). Hence a scheme, hence the need to put more money into that scheme and ringfence it. So where does the money come from, how do we negotiate with existing creditors etc without us lower class citizens called shareholders, taking a hit of some sort???

A collective redress scheme is a type of scheme of arrangement and what I believe is being inferred in the results from last week.