Member Info for itisagame

in addition to

STILL adjudicating - so what happens if it turns out everything was above board, when the money has already been handed back to customers?

Thats some balls up to go from Q3 results £45m profit to -£27m Loss in 90 days.

Just finished listening to the presentation, i wish they spent some of that £130m provision on a clearer telephone line or new microphone its very choppy at times.

Q&A
High % of claims just being payed out to clear the VREQ
Number of open complaints increasing.
"egregious" behavios from CMCs has been reported to FCA.
can start lending when they want, do not need FCA approval.

-"The balance sheet complaints provision has increased to £117.5m. The provision includes a combination of estimated redress for known open cases and an allowance for future claims"
-"Refreshing relending policies in preparation for a return to lending"
-"Positive cashflow continues"
-"Amigo seeks to conserve cash during this uncertain and unprecedented period by cancelling dividends, pausing lending and controlling expenses"
-"Equity of £167.4m; we have taken steps to ensure appropriate liquidity"
-"Opportunistic open market repurchases (and subsequent cancellation) of senior secured notes over twelve month period to end March 2020 total £85.9m (excluding costs)"
-"Affordability April 2020: initial feedback received from FCA Many of recommendations already, or in process of being, implemented before pause in lending Remaining in place before we restart"

Still think there is room for upside in SP, still a fair discount to £167m equity

Isa is set up, to lazy to change it, an Englishman needs something to moan about.

Tried others Years ago but quarterly fees and other hidden or introduced charges made me change.
Have got spreadex set up but not got the balls to use it, their spread is massive on the type of stocks I go for.

Halifax - Unreliable & poor price execution. (And the buggers charge me £2 per limit order placed even if cancelled).

Could the car finance industry be next for FCA/FOS affordability Refunds?

Realistically Needs them to raise more capital and restart lending.
To whom and how you would guess future affordability criteria Is anyone’s guess.

I’m still hopeful of bumps up in the sp from the new board, director buys, JB eventually ending his sales etc.

Just Might have to trade for a penny or two while he’s still selling

Looking at the sng price drop I think there are a lot of potential amigo customers are in the making.

Seems the FCA / FOS want to see higher personal bankruptcies and People claiming benefits.

If they wanted to stop higher rates they could have just limited the rates chargeable for the entire market.

And as for affordability If the FCA /fos provided an Experian type service That told a lender exactly how much the customer can borrow under what types of finance within their rules then the market would thrive.

But they don’t, but Amigos lending was approved by them not long ago. And we know the FCA /fos make a killing in fees.

It’s still not Close to the 5p some predicted.

And good luck when you resolve it all and get on your feet.

If they offer it take it John, everyone else is and you have paid for it in the sp drop anyway. Look at it this way Your amigo loan has turned out to be a savings account with an 8% interest rate.

Maybe Because it’s still perfectly affordable to do both......

Are first quarter results due end Aug? Time In line with JBs at 10%?

Well a lot better then an all out no... But should have been submitted months ago.

He might pull it off but who knows.

Better than my prediction of £250m revenue and £50m profit before complaints.

It was actually £294m revenue and £75m profit before complaints.

“ Excluding the impact of complaints, statutory profit after tax would be £75.5m (a 14.8% decrease on prior year) and adjusted profit after tax would be £75.8m (a 24.4% decrease).”

That is indeed a kitchen and bathroom sinked set of results.

+New board August.

i was on about the collective "we" i wasnt picking you out mark :) im tempted to do the same tbh, i would feel more comfortable leaving the remainder to ride.

Just a bit of perspective, Its trading at a £1,250,000,000 discount to the IPO price 24 months ago, and we are hoping for a measly 20p? = only to of 2/3 of the cash in bank.

Next week will be interesting.

Interested to see if the results have a positive impact on the bond price, if so And reflects more confidence that In turn will help the general sp.