Member Info for hunniford

Someone had a theory here last night which was interesting but I can't find it. That theory was that as CEO he was trying to convince the BOD for another sale and they rejected that idea. So he left, got the lock up dissolved as part of his exit and liquidated his entire holding.

He definitely wasn't very conspicuous in his 2nd tenure as CEO

I wouldn't say what Mark is doing is de-ramping vs ramping. this is not in the context of the going to 20p squad or going to 4p squad. I find the argument balanced.

What Mark is talking about is a simple fact that needs to be dealt with. My suspicion is with the level of cash they have they will get extended UNLESS claims (back to claims) aren't properly sorted. Company needs a good plan for this as given the extension of Furlough any meaningful attempt at re-lending could get side lined. They have already indicated lending to key workers has been negligible.

One hopefully takes the company on their word that they were intending to lend in 2020 but that the lockdown changed their decision. I will push this question at the half yearly.

BTW am still in - through gritted teeth.

There is another way of looking at this. Relending did not commence during the first round of Furlough. Therefore it is unlikely it will re-commence during the continued extension of Furlough. Whilst the furlough should help with continuing collections I don't think it helps to advance the loan book. Otherwise why wouldn't the company have already started relending before the current lockdown was announced? Indicators suggest there will be large pools of redundancy once Furlough finally ends. Unless the govt comes up with another magical solution to support companies and employees transitioning back to work. However throw in the latest lockdown and more companies are already struggling. Tricky to spin this a better way.

I don't think AMIGO would want to risk that level of impairment. So the question really is will there be enough to keep this ticking over until we get out of Furlough and an uptick in the economy. Tough call. It would actually be great if the company could get some of this stimulus money that gets thrown at the banks. so they can lend to Amigos customers. Who can help kickstart the economy.

Am sure there will be many ridiculous conspiracy theories floating around now. I even had a weird dream myself last night that Glen’s sell to zero was motivated to pass shares to Richmond who had also been buying and were just under 3% added to Glens six and a bit they nearly had 10%. Cue the rise of the Phoenix!

It was the non materialising RNS that woke me up this morning. LOL

I imagine it will be another rough old day to day good long term folks!

Gibbo - now I know why that Wallace & Gromit guy replacing Lovering on the website has got that forced smile on his face. He's just watched Gleno's share sale go through!

This was an interesting 1st post from EZHXN - uncanny eh?

What do each of the directors hold and is Glen Crawford still in or has he sold out? The 4m couldve been a buy or sell?

Crikey - this news will be painful for Viking to wake up to!

Ha ha very true! I do like morbid comedy.

Yes ultimately he's been selling for a while surely as he had 28,680,098 share to shift. Probably from the date of the asset Vreq notice or shortly after.

Surely there would be other brokers listed holding any PI investments over 3%. The consensus from the company and confirmed on the Gary youtube video is that the majority of shares now for Amigo are in the hands of PIs

It still does strike me as odd that so many PIIS gobbled up JB shares from the 60% sale and did not vote for him. Obviously I've heard other reasons why on these boards but for me it still seems odd. As does how on earth Nayan was able to survive. His porkies will catch up on him one day.

Interesting the annual report also has a note to say
• Miton Asset Management Ltd reduced its holding from 4.64% to 0%

JB may personally hold 2.66% it was his company Richmond that was selling to zero. Even if he sold there wouldn't be an RNS for that. Also the figure is not enough for the company to report.

It would be great to find an up to date listing somewhere? Seems odd they didn't have Woodford or Hargreaves listed in the annual report. Unless bought after that period but I see no TR for any purchases .

Where did you pick up Hargreaves from? Didn't see that in the annual report?

From the financial report this is the last I see for major holders

Mubadala Investment Company PJSC 38,232,498 8.04%
Aberforth Partners LLP 27,698,380 5.83%
Miton Asset Management Ltd 22,037,402 4.64%
Glen Crawford 22,000,000 4.63% There was a TR1 on 27 July which took Glen up to 6.03% (28,680,098)

So far we have seen zero TR1s from any of these major holders either increasing or decreasing holdings.

We also saw zero TR1 notifications from the fire sale of Richmond

From the financial report this is the last I see for major holders

Mubadala Investment Company PJSC 38,232,498 8.04%
Aberforth Partners LLP 27,698,380 5.83%
Miton Asset Management Ltd 22,037,402 4.64%
Glen Crawford 22,000,000 4.63% There was a TR1 on 27 July which took Glen up to 6.03% (28,680,098)

So far we have seen zero TR1s from any of these major holders either increasing or decreasing holdings.

We also saw zero TR1 notifications from the fire sale of Richmond

Saw that they've updated it with some Wallace & Gromit looking chap.

They still haven't updated Wikipedia, as it says CEO Hamish Paton. But I guess we can't have everything. Looking at the Share price it seems Hamish might still be in charge, the ghost of Paton lives long with this one.

I was hoping Nayan's picture would have been updated with a large sword dangling above his head after all hte porkies he's been telling.

Hav, that may be so. however I am invested in several funds. But probably the biggest thing to note is I'm not invested in 99% of the market and I don't hit up all those bulletin boards to opine on the shares. I do find it odd that you like to come here to talk about this one?

I always read the other opinions as it keeps me balanced, however your opinions are bordering on the obsessive.

Quote: I can't begin to imagine some of the losses some are sitting on here.

That is probably because you don't seem to be invested anywhere. As mentioned before some of us invest with diversified portfolios and therefore can accept the risk.

Hav you talk about "Paddy admitting a big loss" On the basis that Paddy gets your new found respect why don't you tell everyone what your runners and riders are, or indeed just confirm that you don't actually have any investments.

I will give you one thing, this stock is like a dog at the moment but then I don't think you can take credit for stating the obvious.

Lol they can't even do that right, he's still the face of the Directors & Leadership link on the website :o)

We took a pounding on the 19th. Let's see how this is digested. Hopefully some of this was priced in, we also had the drop yesterday which was probably based on this expectation leaking. With the amount of PIs invested I expect a drop initially on open as people reach for their furlough money.

Some of what they say is not surprising.

1. No lending until 2021, they are obviously referencing the new lockdown as a factor in doing this. they lend in a risky sector and obviously do not want to increase impairment. This is obviously a big risk given the mess the government are making of the economy.

2. Looks like key worker lending has been non existent

3. Loan claims in excess of £150M with an average of 25,571 complaints works out to be about £5800 redress each. They had £145m in cash end of August, now down to £140 after settling claims isn't bad. If we assume they pay out on the remaining 2517 complaints @ £5800 that is another £15M which would take them down to £125M excluding further collections. Obviously there will be more to come.

I think the issue with mortgages is you tie a lot of capital up to a single person. I.e. lend someone £250K for a mortgage when you can lend £2500 to 100 people. The 2500 loans can be repaid in a year and re-lent again whereas the £250K is tied up for 25 years. Obviously that's longer term for money coming in but it means you need a lot of capital to lend out on mortgages.

That said I was also wondering if lending criteria is much tighter could they perhaps drop the guarantor for certain clients who have some risk but less risk than let's say a 19 year old in first job after school? Therefore creating a new guarantor free product?

Crappy day today, we went down when the broader market went up. NSF took more of a pasting. Company insisted they would engage more with shareholders. Not seeing much of it, they clearly know that we know end of October was a key date. Now if they have moved this back they need to be telling us. There is a possibility this got side-lined with the FCA due to the lockdown and extra work the FCA would have been negotiating with banks etc. However the company should stick a holding note out.

Maria Double barrel needs to start earning here cheese.

I'm hoping the reflection of the current price is already priced in. Let's not forget we tanked on the 19th and haven't really recovered from that. I'm hoping we don't see too much attrition until the 26th. I would love to see a slow progressive rise until then. For selfish purposes I want to see a big share jump on good news and I want that jump to be from an average of about 11 - 13 pence. I don't really want to see a 100% rise from about 6p !! Unless it is followed by another 100% rise a few days later :o)