Member Info for itisagame

I see green, did you turn the stove on :)

Upside is we are get bigger portions for the same money.
But it’s not as nice when it’s cold.

The broths gone cold.

“ OK what is the best endgame for us, I have lost track of what is happening with Amigo”

Best end game? Back to Business as usual, Debts paid down, relending and making lots of money with dividends being paid. But that’s a few years down the line.

As it stands - same as last week business wise, working on resolving claims to enable the company to be in a position to restart lending again.

Share price wise - I give up trying to guess short term price, but I expect long term higher than today.

A share move like that on a main listing stock will effects the entire market as It shows weakness in the economy and recovery.

Limits Partially opened up again here, can get quotes for ~300k shares now.

(Sod’s law)

Card and val If you are talking about cine can you use the same thread as everyone else please, come on it’s a busy day in chat here and I’m struggling to find the daily amigo banter if you are replying Across the threads. Lol ;)

It’s it’s own thread.

Thanks, thea

Always annoyed me this company that they never put the actual remaining figures left in every conversion rns.

Mag they still have money to convert under the CLN and potentially around 2,900,000,000 shares from this.

and this can’t be clear of warrants as they have not been issued them yet and they can hit the market at any time, It would be some feat to forward sell 6.9 billion warrant shares or one third of the existing company without having stock to Cover it. A couple billion maybe coverable but they if they are forward selling it will be for the CLN shares.

it will be more as there are more complaints because the vreq covers a longer period, but i was trying to get the figure they quoted in the original RNS, i was more interested in trying to calculate the potential cost other 8% interest element.
I have not looked at the latest FOS / FCA report.

doing a little research on NSF, I just realised NSF have not even started the process of "possible" redress to customers, think ill hold off till i know whats going on there.

"NSF is now conducting an in-depth review, working closely with the FCA, to clarify the scope and scale of its concerns and to develop a possible redress methodology and will make a further announcement in due course."

NSF - gross borrowings of £345.0m, ~£55m cash (after paying the £15m on a facility and £8.1m bond coupon )

Amgo - £192m + £234m = £426m borrowings, £145m cash, + >£100m provision.

i wouldn't trust any of my mathematics skills, but im reassured that they are all well within what the company has told us so far :)

so if £48m as the worse case figure for interest on 9000 complaints, and many loans being smaller anywhere from £2000 to £10,000. thats probably around the £35m they quoted on the vreq.

times by 9000 complaints £47.79m?

obviously alot of loans will be for much smaller amounts

im getting about £4690 as the 8% compounded interest component on the £13,715 interest that the customer would have paid on a £10,000 loan paid over 5 years, so £13,715 + £4690 = £18,405 of the customers money returned of the £23,715 revenue generated. So Amigo is left with £5,310 of the £10,000 they originally loaned out. (minus admin and FOS charges)

but ill be honest ive never used excel to reverse a compounded interest rate so i could be wrong.

or did i and the missed the m off that part of the statement

in the boxes it says 1 January 2019 Net debt $m (7,129.5)

i got the wrong on cine lol

"Net debt of $8,192.4 at the period end is higher than the balance at 31 December 2019 by $512.4m. The net cash inflow of $137.3m is partly driven by a drawdown of bank loans of $605.7m. "

everything else is denominated in millions

just the interest, plus 8% interest on the interest paid
then the extra cost of FOS charges, clearing credit history, & admin

Im just trying to work out a full £10,00 loan claim in excel with compounded 8% interest on the interest that has been paid.

Cine - they have $8 billion net debt. shareholders are lucky its still trading, its a terrible position for a company.

With The new 3 months Of interest applied to Covid holiday payments months 3-6 (which is added to the end of the loan term) this could show in Q2 results As £10-£15m Generated for the quarter. There also seems to be Some late payment charges people are complaining about on the reviews, so that’s extra revenue again, and many still owe amigo money even after a claim is paid out.

Will the extra interest will be added into the gross loan book figure?