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Can someone explain what would happen to the sp if an SOA 2 is announced which includes the issue of 40million shares? If share price is 20p at the time would the price immediately drop to 10p or 15p as a mid-point, or would their be great demand which would push the shares back to 20p+ on the basis that the SOA2 is more likely to be accepted and the future of the company secure?
"..my guarantor couldn’t afford it either he lied and said his wife pays his bills , he earns good money but has a lot of debt including a £40k car finance , we’ve both made complaints" ...... extract from Sara's site. I find it unbelievable that you can lie through your teeth to borrow money then claim it was unfair to be lent money.....can any of these people be sued for damages due to fraud? I remember my son got a £100 overdraft from the bank as he told them he had a job, then they wanted it back and I met the manager and had to pay it.....wish I'd have called Sara!!
Any one know how much total redress would be if paid in full? I think someone posted previously that we should offer 1 share per £1 owed, then everyone, including the FCA, has a great incentive for the SP to reach £1 and repay everyone in full. Any credibility in that idea?
So was Gary supposed to turn up at court and say if SOA not approved, don't worry, there's no chance of insolvency
we'll just come back with an improved offer? I'd just wish I'd realised that the outcome was inevitable as I'd have sold at 30p and bought back in now.
Anyone care to remind me (and his wife) all of the reasons why he and his fellow directors will be fighting tooth and nail to avoid insolvency. It appears there is only one risk IMHO, and that's the bond holders. However, if a new / amended SOA is approved the bond holders will be guaranteed their return.
I must be missing something here, but is the judge thinking;
1. Not enough creditors voted to make it a fair reflection of opinion, or
2. He thinks AMGO should have proposed a couple of options (in which case they would have voted for the best deal ), or
3. AMGO should bmake a better offer (but maybe would say that he would say that even if 50% of profits each year had been proposed?)
Surely only No. 1 is relevant?
The smart money is on Amigo giving a little more to appease FCA but what are the likely outcomes if they don't?. Will the judge find in favour of Amigo as the creditors have voted fto accept the SIA, or dismiss it and tell Amigo to draw up another SOA and arrange another vote,....or can they just ask that the terms be improved without the need for another vote?. Will Amigo decide that they hold a strong hand and not give in to the FCA...or will the FCA be able to penalise Amigo even if the SOA is passed by the judge? In other words....why give in to the FCA if they don't need to?
certainly do Franky...the only school where you got **** wet through walking down the corridor to your locker! Better sign off now before we get told off for chatting during ISA's extremely appreciated reporting. Long and strong!!