Member Info for itisagame

they might not want the asset but you cant always plan for the workings of a someone with a grudge.

they could get around the threshold notifications by having multiple separate individual companies buying up the stock and hold them individually, having foreign companies or brokers hold them etc etc, we know the games they can play to hide assets, they wouldn't use subsidiaries of Richmond group.

I personally dont think he is buying the stock, but like to ponder alternative views, even if hes sells the rest for little and walks away it has still been a reasonable average price and return that he has made from Amigo, probably hedged it against something somehow somewhere to make money from the large drop anyway.

Invest I’ve been pondering your ideas of him rebuying.

I had a look at Richmonds accounts on companies house, the last set showed they paid >£20m in tax on profits I’m guessing this was mainly from the share sales at ipo prices.

Wouldn’t Him selling at these prices create a large tax loss for Richmond to reclaim against future earnings or utilise past tax paid?

And If he is rebuying into another new company At low prices isn’t The net end Just him moving the assets while making The most of taxes Paid or avoiding taxes due? Maybe these new companies are registered in a more tax advantageous country, just in case if they did go back to high high prices and were resold and The profits Can be kept.

Interesting points gwhiz, i suppose now that the cash cow of PPI has basically ended for them they just have to pick up on other areas.

September will come round quick enough.

and on the flip side, there are alot of positive reviews and comments on trust pilot (i know its a paid for review site where you can remove reviews if you pay enough, they say you cant officially but it is), and i hope they take some of these into account where people have actually benefited from the service.

There was hardly any complaints for guarantor loans the last few years, this year will easily be a record.

Page 8 "Volumes of new complaints – by product
Guarantor loans
2017/2018 - 210
2018/2019 - 529"
https://annualreview.financial-ombudsman.org.uk/files/2242/annual-review-2018-2019-data.pdf

After reading a few complaints (which might aswell be copy & pasted) i wonder :

Wouldn't this have been prevented if the FCA / FOS / government got together and set figures for the industry to actually define "affordability" on a scale of earning vs commitments vs disposable income / month / week / year?

If some arguments of affordability are down to opinion and not a finite figure isnt the guidance provided to the industry at fault?

If some lie on an application why is that Amigos fault?

The more i look the more it seems Amigo just cant win with these people, you get people complaining about affordability on FOS when you loan them money, then on the likes of trust pilot they get people complaining that they are told they cannot borrow money.

I know there will be technically be some fault on Amigos side but I dont mean to sound harsh its excuse after excuse for people not taking responsibility for their own actions or others trying to get something for free.

And the likes of MSE are not helping people take responsibility for their own spending, they are encouraging more irresponsible spending by telling people they can get their money back for "free" ........
https://www.moneysavingexpert.com/reclaim/reclaim-guarantor-loans/

do you expect the costs to be similar to the Wonga costs? fees at around ~£600 per customer ? plus the actual compensation and right downs?

"(they ordered Wonga to pay compensation of over £2.6m to around 45,000 customers)." - so around ~£58 per customer.
https://blog.macfarlanes.com/post/102g9cs/still-friends-fca-launches-investigation-into-amigo-loans

"Each complaint to the Financial Ombudsman Service costs Wonga £550 in fees even before any compensation payout — more than Wonga’s average loan size."
https://www.ft.com/content/df6bcbdc-ac2a-11e8-89a1-e5de165fa619

maybe they are updating it and we will get a shiny new one next week :)

even a one liner rns will do... something like...

"We would like to inform shareholders that we are experiencing technical difficulties with our website and these will be resolved in time, we continue to carefully manage company funds while planning for the sale or divestment of the flexgen sites, an update will be made when appropriate"

Could have been a broker taking Up their stock from the sale at 0.11, the Now they are offloading into the market.

Its a positive anyhow :) free to move.
impressive really, to shift 20% of the company in just two weeks, easy when its other peoples cash i guess.

i know that, they were flushed out completely yesterday, just expected to see <3% or 0 on the form.

RNS out, humm, says under 5% but extra info : we no longer hold a notifiable interest.

well notifiable interest is 3% threshold? so surley they were lower than 5% as of 23/6/20?

We know the sale tr1 is coming, but I’m More interested to see who has bought in.

1.36b volume today, pretty close to the entire free float excluding SHAL

1b traded.

Wonder if it was SHAL buying the 330m?, or if they y are even aloud to?

Would bring them to 70% shareholding for a cheap takeover.

Yes they have. One trade for 330m plus the After hours 18 / 17 / 5m and a few extra adds up to about the total.

Nice to see them gone, I have one question.

WHO WAS THE BUYER?

X

One positive - The lower it goes the higher the volume so the quicker they are out.

Probably closer to 300m left and Can Safely Knock another ~50m off that total, from just the after hours trades Friday and Mondays sales.