Member Info for hunniford

Am holding this until they recover the business or sell it. I don't think I will see many opportunities like this. My initial target for consideration was £1. Obviously it is a big risk but hopefully there will be a large reward.

I don't think the new CEO designate Glen Crawford wants to see his very large shareholding go bust. So he and the BOD either freeze JB out and go it alone or he gets in line with JB.

Somehow I just can't see him sitting on the sidelines watching someone else manage the business & his share holding (if JB makes it back) and potentially running the value into the ground. If I knew how to run a business like this and was already in the driving seat and had such a big share holding I don't think I would be able to leave the running of the business in someone else hands knowing the potential return I could get on a shareholding of that size.

oops there was an extra "not" in that

Mark the language in his tweet doesn't suggest he is not walking away.

should have been

Mark the language in his tweet doesn't suggest he is walking away.

Mark the language in his tweet doesn't suggest he is not walking away. "once we have dropped below the 10% shareholding and shareholder agreement is no longer in force.

Why use that kind of language unless you are taking an action that can only be taken once under 10%

Every time my phone beeps and gives me a new alert my heart races !!
JB - What have you got up your sleeve hey ??

When his tweet came through I thought it was my Deliveroo coming!

It would appear that there is no agreement between RG & Amigo then otherwise we would be expecting an RNS tonight or tomorrow morning. We still might get an RNS from Amigo in the morning. But given that JB is talking about next moves after getting under 10% suggests we are looking at him calling a vote.

Thoughts?

Announcement regarding our position on Amigo will be made tomorrow once we have dropped below 10% shareholding and Shareholder Agreement is no longer in force.

Hang in their guys. Nothing has changed within the company over the last week. We just have this JB distraction hanging over us.
Ultimately (for those of us holding long) we need some news coming out in the results that lending to all who could qualify is recommencing at any given date. It may have been a blessing in disguise to have lending on hold (save for key workers) over the last few months. Since so many people were on furlough and I'm not sure how that hits the affordability checks anyway.

Lots of ramping and deramping on twitter and bulletin boards ultimately it is just noise and distraction. Good luck all.

@SBG were you getting death threats, from people tying you to JB's parent company?

Hey Mark the issue with this share is the volatility. I think if you have decent numbers and hold long term you will get a good return. If you had sold on Friday and JB's announcement included some financials to sweeten things you could have been chasing hard to actually acquire stock. As it sits you could have an opportunity over next two days to sell before JBs next announcement as it could go down again. I hope not but this is the issue with this stock. I think we have a few options.

1. Ride out for the longer term and the company sorts itself out.
2. Short to mid term we all get put out of our misery with a decent offer on the business.

Myself and the RG team will spend the next 3 days working on options to achieve the goals put forward in my proposal without going to shareholder vote.

If these options do not succeed then I will announce a shareholder vote on Thursday

I did say over the weekend it would have been good to have JB back onboard. I also said Glen was the person that was best placed to resolve FCA / complaints etc. I still think Glen is.

This now adds a slight wrinkle to have them on opposing sides whilst we thought they may have been aligned.

I don’t think it changes the fact that the company is still undervalued and still is working towards some key dates. The boardroom battles will certainly be a distraction. If JB wants it so bad perhaps he could offer on it?

Opinions are like ar*e holes. Everyone has got one and lots been shared here today. RNS or no RNS the market will let us know it’s opinion at about 08:03 tomorrow morning.

Good luck all it certainly won’t be a boring week ahead!

I think this announcement by JB / Richmond is as good as it can get under the current circumstances. JB isn’t actually in a position to walk on water at the moment.

There are a few issues or questions to address :

1. JB one presumes is still selling down to zero so where is the incentive to be CEO in the parent group of a company in which he has sold most of his holding?

Others have said he can buy back in and I’m sure he will have incentives again from being inside if he makes it. However it is of some risk / concern.

2. What happens if the BOD say ok. Does that have any impact on JB selling. The suggestion of irrevocable would suggest he has to keep selling to zero. One would assume if he is already buying back I suspect he can’t really reveal that until the selling stops. I don’t think there are any rules against doing it but it probably wouldn’t be prudent to say he’s selling and buying at the same time. However I would have thought if he started to amass a few percent this would pop under some sort of entity so perhaps that suggests he hasn’t invested yet. Which ultimately if he does start from zero won’t hurt the share price.

Ultimately I still think we are in a better position than the start of last week. We now have an official confirmation that the founder wants to come back. The share price has reacted positively to the rumours. Now we have a public request that the BOD have to respond on.

The current BOD is missing some of the main influences JB has identified as being the architects of the company’s demise. Although that said 2 were already on their way out when the dummy was spat out. So one hopes they would react more positively. I suspect they may put it to a vote since it is a significant development and to be transparent to the shareholders.

Roger was also meant to have been going but I guess this will also force some certainty on that point. Likewise for Nayan who was pretty weak on the shareholder presentation a few weeks back.

So we will likely have a couple of weeks of JB selling which once done should also help regardless of whether JB comes back as one would assume with no stake he has less influence. Leaving him one potential option if he still wants to be part of the Amigo saga and that is to build up share holding again and become an activist. That wouldn’t necessarily hurt the share price too.

Ultimately I bought into this company for the long term recovery which still causes a risk but my average is fairly low. I think the company can turnaround without JB but it would be better to have him onboard as he does strike me as a decent bloke and comes across as fairly honest. I believe the staff also like and respect him. However I don’t think he is the magic bullet for dealing with the regulators, this will be Glen’s remit.

“took a screenshot at 23p in auction lol when profit was 103k ha ha gave me a fake taste of what 23p will feel like when we hit it“

Imagine what this will be like above £1 as it moves a few percent. Each penny = How much?

Cheers. IKN. The way look at this if the business can do well the 1p share moves are astonishing. Imagine a 10% move at £1 vs where we where last week.

10% of 10p vs 10% of £1 = 10p share move vs my holding. I don’t think I’ll get a chance for a while on such a gamble.

And to be fair make no mistake this is a gamble hopefully a well researched and calculated one but there are so many outside factors and hence why the SP has been where it has been. JB is a fighter though and he has created many businesses and this was the one that propelled him to billionaire status. I don’t think for him it’s the money it’s getting his 9th kid back and setting her on the right path!

Personally my target is a pound. If the boss is coming back and I recommend you watch a YouTube video. Bournemouth start up with Benamor to feel his passion for Amigo. Then that’s good for me. The new CEO also has a shed load. So I’m holding for that target.

I may wobble on the way and I will likely use stops so may get triggered out depending on news but £1 is my major target. Then reassess.

I've sold the wife, the cat & my best underpants to load up :O)

Good luck I did a similar thing yesterday and had to sleep in the garden shed.

It depends what you holding is. In the early days I tried to do that and was able to do that but as my holding increased I ended up in situations where i couldn't buy back in and watched it rise. Luckily it was in the days were it then dropped considerably but t taught me not to get on the wrong side of things. Now my holding is too big to contemplate that when you look at the various charges levied on in and out sales. So I've become a long timer.

ultimately you need to do what is right for you. I'm looking at this as a 1 in a generation opportunity to make some decent wedge. there are always other shares but the time and effort that goes into research is a push. good luck, I'm sure you will do what is right for you. Also if you want to sell employ a stop loss, no point in selling when there is an upward trend, set your stop loss a few pips behind if your idea was to sell.

Hey Gregorio you make a good point but this rally can in part only be explained by JB tweets, sure the market knows he's getting closer to zero but that would be more timely next week for rises. Also his tweets reaffirm he wants back into the company. this is someone who set up the firm in 2005 and watched it almost implode. I think as an investor I would rather take a chance on him.

Hi last twitter message hit the Times 2 days ago and that was the only real news for this share and it is up 65%+ over 2 days

Someone should retweet that to the Boo hoo guy, so his followers get to see. It will be in the papers tomorrow obviously.

Also if you do tweet the Boo Hoo guy can you tell him I'm sorry for their SP drop today as i had to reallocate funds!