Member Info for hunniford

Nice recap FTH, very Jim Bowen from Bullseye outlining the prizes before Bully's final board.

Am hanging in there for the speedboat even though I live on a council estate in Coton in the Elms

Seamus12 the JB confidence on twitter is a little scary as I've seen super confidence get hammered many times in other scenarios . He was pretty blindsided I think when he got beat the last time. However this time I hope it is different. There are so many questions, well 2 I can think of
1. How can he be so confident the vote is won
2. Where the F did all of his shares go to? Was it just PI, obviously no RNS accumulating in the 60 days.

My hope is with the BOD being so weak this is a shoe in. It will be interesting to see how Glen and the other investors vote. One has to assume Glen is a No JB vote. He could be a no JB, no Nayan & Roger which would be an interesting play. Maybe the institutions go like that.

This is the thing Game of Loans will most certainly throw up some surprises.

IKN - it depends on a lot of factors. £1 for me was because of the life changing aspect of it. Past SP is no indication of future shareprice but ultimately what they do isn't rocket science they aren't making or selling a complex product. They do have some distractions in the shape of regulators to deal with and ultimately Covid and the worsening employment scenario does not help. Since they can't lend to unemployed people which would be daft even if they could. however I think there is scope to turn the biz around. The banks and other credit agencies will screw a lof of people which will mean they need to turn to companies like Amigo to fix their credit scores. So if the company can resolve these issues I son't see £1 as a pipe dream.

But I guess it's a bit like Who wants to be a millionaire the game show, once you get above that last no lose question it gets a bit scary. Lets say you have 1m shares at 20p that works out to be £200K which could be a decent return depending on how much your average is. However 20p is a long way from £1 if you let it ride to 50p that is £500,000 which in an ISA is a decent wedge in cash but also a tremendous platform to further grow your ISA. 50p is still along way from £1

Obviously I don't want to be (actually I don't care) accused of ramping, I'm just sharing my thoughts on why I invested. It wasn't for a quick flip or profit. Plus at least there are a lot of de-risk strategies like selling some holdings and stop losses but I just like the idea of this being a recovery story and one with a decent dividend. Plus I also like the idea that the higher the SP gets the each 1p move up is a decent wedge to collect in the future. A 10% move at 1p = 1p a 10% move at 100p is a further 10p x my amount of share holding!

Mousey I didn't really try to sell my shares to JB for 20p to try and buy back in tomorrow. And yes I know about the irrevocable order and I believe he has also said on twitter he won't buy until the vote is cast and only if he wins.

However JB has also said in the past that he would sell down to zero and then move on but he's still here
Quote:

Shareholders have spoken. They believe in the board’s vision, not mine.

It’s not the first time I’ve thought investors were wrong about something, but it is the most painful.

Amigo will move forward with shareholders and a board that are united.

I genuinely wish them the best

Don't know about 20p I invested to try and get at least £1 per share. That was my target re-evaluation point. Plus then I figure if it does get to £1 there is a chance that the company would be generally going in the right direction and worth holding longer. That is my strategy, my plan and my ambition.

Cheers Ex, sorry about that. 29th it is. Less than 10 trading days to the next milestone, doesn't sound so bad when you put it like that! Plus anything can happen. Although most of the time a move has came because they company did or said something. ie we have enough cash to do x, y. They are over due on something like this.

Maybe at least we get an RNS from the Board to show they are still alive, to say new Directors have been approved before the meeting, however that's not exactly going to rocket things. I doubt anything JB will say will make a big change unless he says I've started buying, which I don't think he says he is.

I tried flogging my shares to him earlier for 20p so that I could buy back in tomorrow morning first thing but he hasn't returned my calls.

Vorag good luck with the new additions to the family. If I had the cash I'd probably do the same, that said I'm happy with my lot.

F'ugly day today. There will probably be some more. Not for the faint hearted. Can't really see this board putting out anything special on the run up to the meeting in under 14 days. JB has laid his cards out for now. So probably 8 more trading days of dinking around until Season 5 of Amigo the Drama series airs on the 28th

This board had an opportunity to start the week with a positive. They could have referred to the fact that JB was down to zero by Friday and explained what they were going to do to turn around the company and used language at the end of their plan such as "AND this is why we believe we will win the vote and your continued confidence in us is important" It is not rocket science. They squandered that opportunity . Instead going on the attack. JB has got into their heads and they have acted like a broken foe.

However prior to some of the JB 29% antics, all you have to do is look at the shareholder meetings. I have sat in many shareholder meetings and the Amigo ones leave me the most underwhelmed. They are not forthcoming with facts, facts are simple things to explain.

Honestly for the salary Nayan is on I have met some pretty impressive people in business on much lower salaries. I don't mean exclusively on presentation skills. You can be the best finance whizz in the world and not be a great orator that is forgivable. Appearing unprepared on board calls, being generally elusive, trying to hide the claim upheld number until it is vicariously dragged out of them by the FCA representative numbers and then getting schooled by a broker on the call about reducing the company debt is unforgivable and shows zero leadership and incompetence. I voted him out even before this RNS and today confirms to me even more so that this was the right decision.

Some of the points they make in the RNS are shameful and embarrassing for a so called team of business professionals. I have general concerns about what on earth they have been doing from July to meet some of these deadlines they raise. Since they do not provide meaningful updates, straight from the school of opaque transparency.

If Glen has been in and working from 01 August then this plan to deal with the FCA should have all been mapped out and now in the execution phase. They almost indicate they are going to be paralysed without Glen. If the plan is not in place then waiting until 29 Sept vote is too late. I would like to see Glen continue but if the choice comes down to cleaning out this board then I'm happy to make that choice, the city of London is full of very smart articulate lawyers who have extensive experience of dealing with the FCA and who will show zero emotion. They would work on their reputation to get the job done this is why you hire external counsel. Glen would be a loss but he is not irreplaceable. Given his share holding he should really re-think his strategy because even if JB lost the vote there is a good chance Nayan and Roger won't be there either!

With Glen's shareholding I would rather be there with my hand on the tiller rather than walking along the towpath following the boat and allowing someone else to potentially screw it all up. Maybe his plan is to resign and come back as a consultant. It is not like once you are FCA approved you get a level up and become 1

RNS posted to put pressure on the Share price. They talk about no CEO of Glen resigns. Glen isn’t currently approved but the continue to make reference that he has been in and working hrs since 01 August.

Also when are the deadlines for claims. If they haven’t managed to put that process in place by 29 Sept it’s a bit late now to meet all deadlines. What are the board going to stop working now until the vote?

I really am s**t at maths! When I’m wrong I’m wrong. Sorry all for the false start. I’ll get my coat.

Richmond Group now only owns 00.66% of Amigo.

By some point tomorrow that figure will be 0%

I've launched a just giving page for Nayan & Roger, it was the least I could do after voting.

I'd best buy somemore shares then!

Although I now have no shares due to failing my GCSE in maths.

"More importantly who is JB"

If I can make 20p on the way to £1 this is who......

https://www.youtube.com/watch?v=U5TqIdff_DQ

I can see that. My logic was today was the 066% was to sell today. Looks like you just made yourself 10 shares richer and I went through all of this pain for nothing.

The way I see it if I look at the RNS posted on the 8th. However i was always **** as maths.

It states he as 3.66% remaining and the date that happened "the threshold was crossed" was the 7th. i.e. the RNS of the activity gets posted 1 day after it happened. So on that basis I'm thinking the 8th = 2.66 remaining, the 9th = 1.66 remaining the 10th = .66% remaining.

Gambler lets play for it.

Your share holding on the line for mine on who is correct?

You say 0.66% sold tomorrow. I say today.

Do we have a gamble?

No the last .66 is today. If you look at the last RNS on the 8th it denotes a 3.66 holding but the date that threshold was crossed was on the 7th. so the 8th is actually 2.66 and the 9th is 1.66% so today is .66%

Let's hope the shorters don't get caught out by that too.

On that basis Shorters beware!!