Member Info for Jonno41

Amigo! Well maybe. I was lucky bought in hurricane @ 5p, averaged down to 3p and sold for 3.7p made a nice profit. I heeded the previous warnings and got out a in Feb buying into Amigo @ under 10p, which got my average down from 13p to 10p.

Very very nearly bought back yesterday but then decided that there was no evidence outside this BB that the CPR would increase.

GLA

A few large buys in the last 20 mins or so... someone else building a stake I wonder.. would need to see some more buys but this might be why we have seen the price rise....

Mouse - its a very sensible thing to do, and also makes you relax and join the ride without worrying about losing money. I probably will join you at some point, just not yet! Good luck

I find it incredible that this share is still priced to fail... I know there is a risk of something nasty from the FCA, the vote not going in our favour or the court not giving final approval, but its low to say the least. The vote has been desigend to be won, the FCA wouldhave oppsed it before the first court hearing, and the court would not have approved the vote only to deny the scheme after the vote approves it....

I ALWAYS topslice and with an average of 10p and a large holding could even freeride like Mouse, but this time I like the odds to much

I don’t think April will be quiet - Amigo 2.0 should launch in theory if not lending, FCA investigation should complete, Vreq might be lifted, II buys or sells, board buys ....

Those that arn't fuloughed :) Also I know some good companies in India that can fill trust pilot with glowing reviews:

"nothing made me happier than making my loan payments to Amigo"

Of course no one ever seems to make referecne to fact that many people went ot Amigo to buy fancy cars, go on exoitic holiday, or live a "higher than salary allows" lifestyle.

Question number 1 the FOS should ask is "why did you borrow money from Amigo and what did you spend it on"

The reality is many people probably needed loans to pay bills, eat and meet mortgage/rent repayments - but I bet a good percentage of them blew it on a holiday or car.... I have far more sym[pthay the with former...

I would not worry too much about this - Amigo know what they are doing - they are seeing the votes coming in, and they'll go on a huge targeted media campaign if they feel they need to. Trsut pilot is ignored by the masses, some of my competitors have incredibly bad reviews on trust pilot, and it makes some but very little difference.

Who would of thought JB would lose the vote!

I wouldn't be surprised if we did see a rise on Tuesday of 14%. I also would not be surprised to see another fall... But today was a bit of s strange one on L2, there appeared to be buying pressure most of the day and prce was being held down...

Clearly we need the next piece of the jigsaw puzzle to fall into place for a rerate.. GJ time to bring out Amigo 2.0 and tell us exactly what it is and when it starts...

FCA must be close to the end of their investigation.... They have not blocked the SOA so must be on board with letting Amigo continue lending, r the SOA would be pretty pontless, so they need to complete their investigation and move on

I am not sure that 5.5M volume was a single trade, I was watching L2 for the last 30 mins on and off and I saw a £100K & £50K trade and lots of £20K ones so I suspect that was just end of day volume rather than a big buy

They kept JB out - which I would argue is much harder bearing in mind he was offering 20p a share (when it was 13p).

If they are not winning the vote they'll fill the newspaperps, radios, internet with advertising to get it over the line.

Not sure if how many of you are familair with social media targeted advertising, but trust me, they will get through to the voters who are most likely to vote yes, of that you can be 100% (ish) sure.

Then there's Martin Lewis, hugely influencial (hugely!) and he wants the scheme to pass.

Sorry I thought everyone on this board realised when I posted it, FCA printed it for transparency, it was read at the court hearing, so it will have no further impact its just an FYI.

DYOR

https://www.fca.org.uk/publication/correspondence/fca-letter-concerns-amigo-loans.pdf

Franky, because right now, its about securing a future for Amigo in order for the borrowers to get some redress - this is why the FCA is not opposing it, the courts are ruling in its favour and even Martin Lewis is not against it. None of them would do this for us shareholders or the board, the business would and should fail, but its being saved to pay redress. To me its that simple.

The interests of the board, the shareholders and the staff right now is secondary. Because if a company has more liabilities than assets it evenutally goes into liquidation/administration. , and with the amount redress claims Amigo should go into administration - giving shareholder, LTIP's and the like no return.

Once the scheme is approved, the business then has the right to sort its act out and go about business as usual - lending, borrowing, making a profit, giving shareholders a return and setting up LTIP's .

IMO

It would not make sense for her to not support the SOA but yes I agree she may well not.

The one thing I would just remenetion - I do not agree with the board announcing their LTIP's before 12th May and relending starts. I agree with LTIP's, and agree they should be in place, but bearing in mind the alernative to SOA is administration - why risk bad press (which is what they have had).

LTIP's might have to be higher if announced later, but thats not a reason to announce them earlier... just my opinion, I do expect yoy all to agree with me.

I think the stricter lending criteria will impact the conversion from lead to loan rate but it should also improve the default payment rate, so one might offset the other.. then there the Covid uplift (one assumes)... Amigo 2.0 - does that offer loans to people with better credit rating - is there a plan to open overseas where FOS type CMC causing issues are less of a problem.....

I agree though £1 this year is highly unlikely... but not unachiveable.. 30p - 40p by end of May, now thats achieveable

IMO

@viking... would she, if its fails she would have to tell all her members that they will not get any redress from Amigo - she might not agree with the SOA but now the court has signed it off, will she recommend her members to vote against it .. sorry I have not researched this so perhaps I am wrong.

Besides, either way, she holds very little sway, Martin Lewis does but he has said he is for the SOA in principle...

I no one can escape the fact that the more profit they make the more redress borrowers get...

We all know investors hate uncertainty, to us invested we now have less uncetainty, but to many people we still have too much uncertainty. But, and I promise never to say this again as I have said it 3 times today already...

It is incredibly unusal for everyone who has an interest in this company - to be alligned - the borrowers, FCA, shareholders, etc. etc.

This is why I am not top slicing because no one wants this to fail..... apart from shorters, if there are any.....

Sorry I meant 1 year not 1 month!!! Anyway we seem to have some buying action going on...

Not when the news means a company with market cap of £70M now has the potential to become a company with a market cap of £500M in 1 months or less - because of its profits not its potential.

You sell on news when an oil explorer finds oil ... which might be water... and needs £100M to exploit it.... and licences..and 5 years... etc.

Great question Seamus, I really don't know - are the traders who have made a mint out of the volatilty of this share, at it again and trying to bring it down before taking it back up? Are investors uneasy before the vote and final court appearaonce on the 19th? Or are they waiting for the FCA toallow lending to restart (assuming they are in control).

As I mentioned ealier - I was a nervous wreck most of yesterday, and all I had to do was sell and buy back today to mitigate all of the court room risk...

I think we had a big seller this morning at around 17p, and now that sppears to have stopped we need a big buyer to take us up...

Lets hope one appears soon..

GLA