Member Info for itisagame

James starts with 120m votes against him, unless he can appeal to the existing significant shareholders who voted against him last time he won’t win.
We are told has sold his shares Have gone to retail PI only in the market but most retail won’t vote. FACT.
They never do vote with the numbers you expect them to, Ive tried organising a vote in the past and have been part of a few groups that tried to rally support on other Smaller shares I’ve been invested in but it’s hard and without big guns behind you, you are at a sever disadvantage.
You are talking £15-20m worth of shares just to get to the same starting line as the competition.

A lot will Not even have voting rights if they are using CFD or spread betting.

The share will rise whatever happens longer term

“Is the (~>£35m) VREQ going to be taken from the provision in one chunk and show up at a later date in Q3 results?

Presentation: Provision used for Q1 only £6m- your thoughts?“

I saw that but I though I heard Nayan say any claim just gets paid from the cash Balance, so didn’t know if it shows as been written off elsewhere (yet).

to be honest I have zero faith in any company for a long term (>5-10 year) investment, all it takes is one scandal, regulation change, pension issue, or be a target of a rich fund that wants to short it to death and trigger bond covenants and you can lose your entire position. This is the point that i try to end up buying in for the recover play, and when they have reached what i think they are worth or im happy with at the time i sell because there is always another one to trade.
You could of course sell your stake and keep your profit in long term and build up a nice position in a large range of stocks over a few years, but to a point there is always a better potential return elsewhere.

Eg : bohoo it was a 5 billion £ mcap company and turns out they are using slave labor / underpaid illegal migrants etc and lost £2.5b in mcap when news first came out and dropped from >£4 to £2.10. would have been a great buy but do you really want your cash long term in a slave camp? is that business model viable long term?
(that one was for the trolls visiting :)

Yep loan book is down because of no new lending but look how much the provision is as a % compared to IPO.

net loan book has only shrunk so much because of the provision against it,
Q1 20202 - Net loan book £553m / Gross loan book is £650m.
2018 when it floated - Net loan book £647 / Gross loan book £680m

Is the (~>£35m) VREQ going to be taken from the provision in one chunk and show up at a later date in Q3 results?

"How do you find the winners?"

I find alot of losers and get lucky once in a while. :)

And i spend way to much time on this website, reading news and RNS', and of course the BBs here (once you filter the trash) have a wealth of information and people way smarter then me in many areas and on many industries or specific details on a specific company, Always listen and take on board a smart posters view even if you dont currently have the same trading position as them, there is a hell of a lot that you can miss that they might have picked up on.

Do the opposite of what motley fool and similar articles say and you are on to be on to a winner most the time ;)

In reality with Amigo it has gone from a share that traded ~100,000-1,000,000 shares a day on average with about 65-70m shares in its entire free float trading on the market to trading ~20,000,000 - ~150,000,000 a day with about 360m shares in free float.

All these extra shares do not currently have a loving home that will hold them forever, the majority of these extra shares (for now) only a short term home that will be willing to sell them any time whether its up or down on what the current owner paid for them.

So its gone from a fairly illiquid stock to a very liquid stock (even though its NT to buy alot of the time still, you can still buy via a open /limit order just at a higher price, where as before the stock was simply not available ), and worst of all the extra 4.75m of stock was guaranteed to come to market daily while JB was selling, so shorters (and people simply wanting to trade down) could borrow stock and sell them in to market easily and cheaply.

This downward sale triggered many stop losses and people sold as they lost hope or tried to trade out of a loss or average down.

In theory the reverse should happen once JB stops the selling and him or any other party starts buying.
The stock becomes more illiquid, the price goes up, shorters will close positions or potentially have a margin call if the stock suddenly spiked which in either case forces them to rebuy stock from the market, traders will buy in as they try to regain a position in a now rising stock, sure some traders will sell into the rise which will enable the rise but it will cost them more to regain the same position later on.

yes we have good and bad news ahead of us, but on the supply and demand side and it will have highs and lows but hopefully at the point that JB is at 0 will be the definitive point of higher highs and higher lows.

i had to use my adblock to block the green "this message has been filtered" box too, it was too much and hard to find actual messages, i didnt have any filtered before Amigo, not i have about 20.

i also have a gut feeling if he loses he will still buy stock off the open market, and even possibly put himself up as a non exec, highly unlikely hes walking away completely.

hes stuck to what he has said so far, so i think hes not going to be buying a single share after he hits 0 (in his name anyway) that way he does nothing to add to a rise in the share price and at a lower share price his offer looks better on vote day, then he buys as a reward for people supporting him.

The downside is it also enables anyone that wants to vote against him would likely want to buy some more while the share is low and to ensure the vote goes their way.
But another flip side is it gives the existing significant holders an exit point higher then the current sp that they can only get by changing the way they voted last time.

"This time, a buy order, for 29% of Amigo, to be purchased at any price up to 20p per share, in the days immediately following my appointment and approval as CEO of Amigo Holdings PLC."

Prospectus lists :
Richmond Group
Glen Crawford
Stephan Wilcke
Woodford Investments
JP Morgan Asset Management
and the remaining approximately 4% issued share capital of the Company is held by other Directors, Senior Manager and employees.

And out of interest looking over it compare the position at IPO to today.
Full year 2018 / First Quarter to 30 June 2020
Amounts receivable from customers. £666.3m / £553m
cash at bank and in hand. £12.2m / £145.2m
borrowings (£455m) / (450m)
shareholder loan notes (201,1m)

Adjusted Profit after tax £72.4m (full year) / £3.9m Q1 2020
Impairment charge as % of revenue 21.3% / 37.9% (inc covid)
Net loan book £646.9m / £553m
Net borrowings 2.3x / 1.8x
Number of borrowers 181,996 / 199,000
Basic earnings per share 12.7p (full year) / 0.8p Q1 2020

Glen

Yep, I Would thought An rns if loan obtained. But Company loans were given to everyone with very little checks, So wouldn’t knock it off completely.

Each of The subsidiaries would have been entitled to £50k low interest rate loans each plus £10k council grants for each site and possibly zero business rates for a year, add on the deferral of Tax payments and furlough for staff, times That for each subsidiary And potential could add up to a lot at asset level.

Might not have but this is still ticking over so somethings funding it :)

It’s a good day, relieved to see the profit for quarter, lowering of debts, higher cash in hand and not an additional shock to the impairment.
We have a bank holiday weekend to enjoy and Can do so knowIng that there are multiple parties that think the SP is worth almost double today’s price.

Signing off for weekend have a nice one all.

Hold and wait for either party to ramp up buying to Ensure they get their way.

Wait till September 11th, it will rise from there.
There will be plenty of buying to ensure the vote goes whichever way the buyers want and limited supply of shares.

Aslong as Sunak doesn’t come out with another forced extension to Covid holidays or something stupid without offering financial assistance to the lenders (IE 0% loans To cover it or similar) you will be OK with the share price, but thats no reason to keep secrets you are in the dog house there if it’s win or lose I’m afraid.

I have no clue sen and can’t answer that, I’m posting in the wrong thread, should probably start a new one for my mumblings :)

I’d rather them to buy the bonds back over putting the cash to fund new lending.
Then open a new Or reopen the RFC facility to fund all new loans.

Ideally Use the money coming in to pay the debts Down, while they open a new subsidiary called Something like Amigo loans (uk) ltd And get FCA approval to loan from this new company, then shut the old one down after a rebrand and legacy loans are repaid, putting an end to the old loan book once and for all.

Book value Can be countered by buying bonds back At heavily discounted rates.

I noticed that, I expected more but atleast they have not added to any questionable lending to the loan book.

Draws a firm line in the sand and everything new on the loan book from when they restart Lending should meet or exceed (current )FCA advise.

If continues at this rate the facility will be down to around ~£150m By December 18th.