Member Info for Jonno41

We need lending to restart and the FCA investigation to complete - possibly even the court case on the 12th for this rerate.

Right now, as I said yesterday, everyones (FCA, courts, shareholders, board, consumer champions, borrowers, guarantors) alligned. The bigger the profit the bigger the share for redress, so there is no point in FCA not letting Amigo get back up and running or the profits will not appear.

Every share comes with risk, but this one feels a fraction of the list than is was yesterday, whats a shame is we all could of sold @ 15p yesterday morning, chilled all day and bought back and 16p today.....
This does not appear to be the accolade for this share to fly (although there is a big seller @ 17p), but we will receive some news soon which will be..... I hope...

As Franky says, 5% a day will be great for now, although I think we'll need momentum to break through some resistant levels.

GLA

I think it will be soon and could be tomorrow - although they might have to wait until the vote - you cannot lend with administration being a risk can you? The vote is a foregone conclusion so the risk is minimal - let’s wait and see

Time to start re-lending please. No profits = no redress, so the FCA need to help us get past the VREQ and investigation and start to generate a profit in order conribute to the scheme.

What I love about this, is ALL parties are alligned, and that rarely happens...

Only way is up surely????

Up she goes!!! Great work buddy...

Been on L2 for too much of today. my conclusion is there has been god buying pressure since first thing this morning, coupled with MM taking the price up and down sharply, (just to care me assume).

I have had my button the sell button earlier on before the FCA statement and the liquidity was good (for £20K anyway).

I know the price will collapse if this does not get through today - which seems unlikely now - I am not convinced it will fly if it does get through unfortuanately - I almost sold 30% to derisk under the basis I would probably be able to buy back @ under 18p on a succesful hearing but held back under the basis that so far nothing IsA-Inestor has reported suggests this will not go to a vote. FCA not opposing this is such a big plus -- for the judge to effectively rule for administration and see the most needy at this time lose out seems incredibly unlikely.

Or do you think this is wrapping up?

Thanks ISA-Investor unbelievable thanks for the updates..

Looking at L2, buying started after the FCA letter was read.... not flying yet, but loaded and ready to breakd 16.... I hope....

How did you get in the call, did you have to apply or thiere a link?
Thanks

Does anyone know what time it starts, how long its scheduled for and whether there is a way to know the results before an RNS is sent out?

The only way to get a good score on trust pilot is to ask new customers to rate you service - with no new customers Amigo has zero chance of getting any decent reviews

Thanks Traveller, in laymans terms what does this mean?? I assume the charts are suggesting something positive althoigh are they important with a court case on Tuesday?

When the starting point is £68M Mccap, for a company worth over £1BN before this, if we tick these boxes even with 20% restirctive cash, the upside is phenomenol.

Thats a possibility Franky - although if its a sensible amount, that might not be such a bad idea. The FCA requires you to keep a minimum amount of money in the company, the FCA might decide to increase that for Amigo.

Unfortunately, there is always the risk of a curve ball - for instance the FCA/court insisting on a much higher % of profits, or the FCA uncovering something further on the VREQ that causes issues... or consumer champion finding a way to stop the scheme.

Bottom line is, Amigo will have the "Mr Loophole" equivelant legal team so their court appearance will be robust you would hope - and they have recently demonstrated the ability to come up wth this idea, handle the FCA effectively etc. so I do think there is a good team in place

Imagine the CMC answering the clients questions:

Client: So you cannot get any compensation for me because the FOS won't accept Amigo complaints because they are setting up a scheme. So how do I get compensaion?

CMC: The only way to get compensation is to vote for the scheme. Saying that, now I cannot take a third of your claim by sending the FOS a templated form with you name on it, I really don't give a f...k if you get compensation or not. Now p.ss off

And CMC's!! - So think it fair to say Amigo are currently receiving no complaints.

https://www.financial-ombudsman.org.uk/news-events/update-information-amigo-customers

Or have the VREQ removed, or at least the FCA conclude their investigation which is still ongoing.

As far as I can see the 4 bits of news that will totally rerate Amigo (assuming its positive) is:

Vreq investigation completed and VREQ removed
Court approves SOA
Customer vote in SOA
Lending restarts.

All 4 of these cuase investor uncertainty, so I assume there are many investors (large and small) that see this as a £1 plus once this 4 bits of news are released but want to ensure they all happened before they invest.

Who can blame them, last bit of good bew got us to 16p only for us to fall back down in the 13's.

IMO I cannot see all these things happnening whcih is why I bought in early. By far the biggest risk IMO was the FCA saying they would deregulate Amigo if the Scheme was approved, That has not happened, and it was then when I topped up.

GLA

Thanks for the lessons all - yes accumulating to sell to clients when/if the stock goes up makes sense.

Is that allowed? I thought prop trading was not allowed anymore, or is this classed as something different?

Thanks

Could these RNS go a way to explain the large volume of trades we have been seeing without TR-1 on several days. Just wondering if swapping large volumes between instruments is getting picked up on investing.com etc.?

Someone who understands trading better than me might be able to help please?

Thanks

I would not expect either of them to buy Amigo, I was suggesting US Investment Funds/Equity Funds not Investment Banks.

I also do not agree with your suggestion they are buying shares to sell to shorters..

GLA