Member Info for hunniford

Part Deux

I appreciate your team may be extremely busy and consumed with handling a response to the COVID situation and turning around the business. However I would greatly appreciate a response to my email and going forward I would also request that you consider creating a forum where you can keep the shareholders (and indeed your concerned employees) updated of any progress you are making. You may view my questions as somewhat trivial but I can assure you there are many other shareholders scratching their heads with the same questions and other queries more complex than I have asked.

Kind regards

Hunniford

Part 1
(I played about with 10 iterations of GJ email address in the BCC column no bounce back so he should have got it plus the standard amigo investor address.....)

Dear Sirs,

I am a investor with a sizeable shareholding in Amigo and I have been dismayed to see the Share Price free fall over the last few days. It is becoming extremely difficult to sit and watch the SP get mauled on a daily basis whilst the company appears somewhat paralysed to do anything positive to counteract this situation.

I understand there have been some boardroom distractions of recent which have played out in the media, whilst I appreciate this has not been helpful all of this should now be firmly behind the company. I would be grateful if you could provide answers to my following questions to help me understand the current status.

1. During the AGM you mentioned lending would start at the end of the year can you be more precise on when that date will be and whether it will be in time for the all-important Christmas period?

2. In the midst of the James Benamor voting saga, the board of Amigo was very vociferous that if Mr Benamor was voted into the company it would be detrimental to the business. From viewing the recent share price history as soon as Mr Benamor lost the vote the share price imploded, making it difficult to believe that Mr Benamor wouldn’t have offered short term stability to the share price and longer term benefits to the company therefore:

a. Now that you have succeeded from preventing Mr Benamor’s return could you please describe why your leadership team is best qualified to turn this business around?

b. Could you also please elaborate further on what your leadership is actively doing to restore confidence in the share price?

c. Can you explain why, when during a period of share decline you have actively released a number of your senior leadership team from their share lock ups? You must have known this would have a negative effect on the share price adding further pressure on an already decreased SP.

3. As a shareholder I would really appreciate if your leadership team could be more engaging with the shareholders. At the moment there is really nothing but silence coming from this board and often most of Mr Benamor’s social media claims are left unanswered, which given the current climate suggest that they may actually have some merit.

4. Finally could you also provide me and my fellow shareholders with an update on the VREQ claims handling process. You may have noticed but this has also been the subject of Mr Benamor’s running commentary on twitter and it is something you have been very vague and evasive in providing meaningful details.

I think JB genuinely wanted to get in and fix things. This was his baby, he got mirked in the SH Agreement, Glen should have had his back for that and didn't. He pushed for the vote. He spent time answering all PI questions. I think he just misjudged the amount of PI votes it would take versus II holders. He always came across as decent and straight forward to deal with, no agendas, someone I would have been happy to do business with.

Twisty & EX wise words. I think a lot of people just see the price of here's what I paid & and here is what it is now. Then think darn I could have a few xx thousand more shares to play with on top of what I have.

Sods law. I'm actually happy with my holding. Could just do with a higher base, would have been happier with this rolling around the 10s until the next news came out but as the French say Mange tout Monsieur Rodney.

I've always thought that GC would have an alternative strategy but watching this SP I could be wrong at least we should know in a day or two. Where do you find an update list of the major holders? Been meaning to ask about that for a while.

My thoughts on GC were:

1. JB's novel stated he wasn't short of a few bob. Therefore shouldn't need to sell.
2. He didn't want to work with JB or at least that was said publicly and he doesn't seem to have voted for JB despite having a tiff with the BOD. I figured JB getting in could ruin some other plan he had. Also by knowing JB wouldn't get in he must have known the SP would tank.
3. He is adept apparently at raising funding and working with PE firms.
4. His average apparently was around 30p so the current price would hurt for a sale.

I've broken my rules and added some more. Mixed emotions on that but fortune favours the brave or Stupid!

As I understand it if Glen sells we will see an RNS due to the change of a significant shareholder. If one of the BOD is selling we would also get a notification. It could be S Wilke he had about 3M shares but surely that doesn't take days to run through.

Cheers Itsgambling, Houndog & Haviland out like clockwork! Good to see you guys out doing what you do best when the SP takes a drop. Thanks for the insightful information.

It does indeed look a bit grim today but not much most of us can do other than ride it out. Or do you guys recommend we all sell up now?

Majorboy I think they need a new RNS person as the one they have is too negative at the moment. That might be a decent hire in.

Cheers Ex yeah this BOd do not make it easy. I think someone from HR needs to put them on a creative writing course, followed by a session on influencing skills. The SP today looks like I've just had an ECG done and someone threw it onto the chart.

I feel your pain. However I would say don't expect a dividend until lending starts and Covid is history which at the rate this govt is handling things is likely to be this time next year.

I also heard folks talking earlier about it would be good if the company did a share buy back. I can't see that happening either and it probably doesn't make good business sense in the current climate. The one saviour for Amigo may be the cash it holds onto for operational purposes. I have a feeling it will get harder to access finance once the tsunami of unemployment comes through in the next few months. So actually hanging on to as much cash as possible could be the lifeboat to get through this mess. As long as they don't spunk it all on claims! GARY IF YOU ARE READING THIS DONT SPUNK ALL OF THE CASH ON CLAIMS!

The only thing that Irks me about it is :

1. The timing, I suppose one could argue they are getting everything bad out there as soon as it happens. However I've heard that too many times on this stock.

2. The fact that the other Directors (who said Armageddon would happen if JB won the vote) are NOT buying shares in the company which are at a bargain rate If you truly believe the company has turned a corner concerns me.

For that reason I'm less than happy. If I worked for this business and believed it had turned a corner. I'd be buying up for the potential to double my money in whatever timeline space that I could predict as an insider, ie claims sorted, relending starting etc.

Don't get me wrong it was nice to see Gary shell out a months salary on some stock but one swallow dost not a summer make. I really hope they get some new blood onto the board and visibly back the turn around by ponying up.

Also hope Nayan departs with Roger. I hope we get an RNS after that to outline a new CFO & some NED to support Gary. I don't trust this lot trying to interfere with any plans Gary has.

How does this pay back the internal share holders? So these guys and their shareholding didn't make a material change to JB's quest. The II guys sank JB.

I don't believe anyone can be forced to buy shares in a PLC because of their job. This is not a partnership he is joining. Although I'd like him to feel like that. I want all of them buying skin in the game is the name of the game!

Sharpens the mind and shows they are men of the people, not thieves.

This was done for GC last week and I assume therefore you cannot really do it for one person and not the others. When you look at the amount of shares this constitutes there would be no incentive for these guys to sell the shares at the current share price.

Let's face it for the volume of shares held this is "punting" kind of money. As in even if you thought things were bad you could hold for a punt. As such I wouldn't read much into this.

The only unfortunate thing is this share seems to trade on news and so if I was betting, I suspect another drop tomorrow. The board really needs to get the hang of the good news RNS. Plus really people like Nayan should be thanking whoever the fark voted for him and demonstrating it by buying some stock. All of these guys should be buying to demonstrate confidence not just Gary.

I would really love to know how they overturned that lockout agreement. They say "Amigo has today consented to the waiver of the lock-up provisions "

Amigo being these guys. Maybe we get news confirming

1. Roger is finally off
2. Nayan is going too

Makes me wonder how come JB / Richmond didn't have something like this too on any of the 60%

Looks like more opportunity to load in 9s tomorrow!

Hope we can get a solid 10s base to move up from. Could do with this getting mid teens soon. Was hoping to go Sharm or Dubai soon but not until this starts making some wedge!

Clearly I should be posting on the weekends, I usually take a break but it seems so much more serene on the weekends without the crazy squads!

Some adult stuff clearly being discussed this weekend good work guys.

Quote: Hunniford, Has he publicly cancelled his irrevocable order close date Feb 21? Or we are led to believe this is rotting in some file. I thought he would have tweeted:)

I think someone (maybe his wife, or one of the 8) has told him to lay off Twitter as he's not very good at it.

That irrevocable order he created is about as useful as a reassuring message from Nayan stating that this time next year we'll all be millionaires!

Quote: 4 weeks to US elections: Who will win?

All I can say is I'm glad JB isn't one of the candidates, on the morning after the election he would be tweeting how it looked like his team had won.

Darn 9.99 just shows my week.

In a cryptic sense though 999 is the upside down to Glen Crawford's 6.66% devils holding