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Guys stop being mad at me. I'm just trying to help you all see the wood for the trees.
Oh dear the selling is relentless here this morning. It looks as though AMGO is going to go down the NSF route and have to issue equity. How much though, that's the question?
Monday RNS will confirm everyone's worse fears of no satisfactory outcome to the vreq. This will quickly be followed by the lender demanding the company raises an extra £100m via an equity raise.
This will dilute the sp a lot.
2p-4p by Christmas.
Yes Mark, go put some money in NSF.
Good idea....
Cnel91, I'm a firm believer in freedom of speech....... And keeping all options on the table.
Haha I thought you were selling up today Paul?
This is a dead duck. Don't fool yourself kids.
Haha Mark, as if you would celebrate needing a provision of (at least) £250m.
Don't forget, the FCAs new rules will make it much more difficult for AMGO to be profitable in the future. Best case scenario here is an equity raise and a much less profitable future.
Tick Tock
You really think AMGO are in a better position? Baring in mind all NSFs problems have come from the guarantor sector. AMGO are in deep trouble I'm afraid. Assets frozen by the FCA, vreq almost certainly going to be delayed. Restarting of lending now doesn't have a date. The FCA WILL issue AMGO with a fine next year. It could very well be the final straw for AMGO.
Anyone invested here who thinks everything is rosy is clearly deluding themselves.
AMGOs next rns is crucial.
Good morning everyone.
Oh dear. NSF have set aside £16m for their 5% share of the guarantor loans markets. AMGO has 80% of that market! On those calculations, it means AMGO will need to set aside at least £250m. And thats before the inevitable FCA fine is even taken into consideration.
AMGO WILL go bust.......unless it has its own equity raise.
Oh dear
A think the FCAs decision to freeze AMGOs assets is a good indicator as to what's going to happen next.
And its not going to be pretty.
All jokes aside guys, I do think the fraud investigation will be the straw that breaks AMGOs back.
Gla
Unfortunately I think amgo may just see 6p this week.
Chin up guys.
It's fairly straightforward to understand that all the cash AMGO has on its book is actually the lenders cash. AMGO are not worth very much once you take the £300m complaints payments into consideration.
Once the lender hears about the impending fraud suspension, it will call in its loan, then its goodnight Amigos.
In another note, Nsf look like their gonna have a great week ahead of them. Hope you all took a position last week at these super cheap prices?
Guys it looks as though the complaints numbers have now got out of hand. It's not looking good I'm afraid.
Monday morning RNS to confirm vreq has been missed.
I bought NSF at 4.5p and sold it at 5.2p.....Anymore?
BTW, it's also worth noting. Once the FCA finish their investigation and the results are disclosed next year. They WILL fine AMGO, it is inevitable. They worry here is that this fine can potentially be unlimited. If the FCA want to finish AMGO off, they could do it in a heartbeat.
My dog barks and bites. Seriously, Patterdales are mental.
If it was supposed to be 'For the people, owned by the people' then surely it would have to be unprofitable?
It sounds like a Venezuelan high school project lol