The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
'For the people
Owned by the people'
What a load of tosh. Sounds like a Jeremy Corbyn tag line.
The FCA anf FOS know AMGO make its customers lives harder. That's why they have their knives out for the sector.
Wait until Q2 complaint numbers come out, they will be far worse than Q1. AMGO have 6 years worth of complaints to pay back which will likely see another 12 months of sustained complaint numbers before the volume drops off. These numbers are going to get worse and worse.
Oh dear, this is not looking good.
Tick Tock
Or Chuck Norris for that matter.
AMGOs destiny is out of the company's hands.
Not even Chuck Morris could save AMGO now.
No way would the FCA impose these kind of measurements on the off chance JB might be thinking of making an offer. They would wait until at least a takeover is imminent. They have imposed these cash constraints because they want the FOS paid off first and foremost.
Just imagine how the business' lender feels. What's the chances of them calling in their loan now? I would if I was them. Enter, bankruptcy.
Complaints payouts could hit as much as £300m. The FCA are making sure the BoD don't syphon any cash off in the form of bonus or special divs.
It's doomed I tell ya, doomed.
Absolute nonsense, why would the FCA be concerned about JBs old plans. He's not on the board and doesn't even own a single share. AMGO are in big trouble.
Tick Tock
Careful Jimmy, you're not talking to balanced people with an IQ over 85 here.
These lot don't like it when you talk common sense, it scares them. They like to hide behind mantras and ignorance, not talk facts and figures lol.
AMGO are going to get busted for fraud. JB said it a million times, the FCA must have something on certain board members.
It's not looking good kids.
If I was rich enough I'd buy all the company's bonds and force the business into administration before the cash is wasted on claims. I'm just saying....
Carefully Jimmy, the tools on this chat board don't like good solid research, they're too scared of it.
This vreq is imo, a precursor to administration.
Oh dear, 5p by Friday?
Well done
Novice2020 get a dictionary.......
2p by Dec, then bankruptcy when the lender decides to pull the plug as it doesn't want AMGO spending its money on complaints payments. Not to mention the new restrictions imposed on the company today could very well be linked to fraudulent activity.
Tick tock
This agreement is the FCA making sure the company doesn't syphon off cash in the form of divs or bonus before it goes bust.
If you think this 'voluntary' then good luck day dreamers. AMGO are in worse shape than you think and it's going to get worse.
They are not paying down debt in the sense of making a payment transfer every week. ALL cash that is entering the business right now is by default going into the lenders account, cash flow is out of the companies hands right now.
Tick tock
Everything's going so well at AMGO that the FCA have told the company not to move any cash out the business for any reason.
Tick tock
It's going bust, wait and see.
Absolute rubbish, this is the FCA making sure AMGO doesn't run away with the FOS' complaints money. What a mess of a company.