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I do wonder if ODX have considered the fact that the LFT market is huge in their decision to sell Alva. There is a lot of negative sentiment around so called Covid stocks and them missing the boat in a pandemic. The reality is that LFT technology has benefitted from the pandemic in making it a useful tool to detect all kinds of viruses. As a product, to have only manufactured it to take advantage of a pandemic, which is hopefully coming to an end, is short sighted. The use of LFT's to determine whether someone has a virus, whatever it may be, is now going to be the new normal. The government are tracking new viruses all the time. If our response to a new one, that could be serious, is the ability to have an LFT to market that detects it with a high level of accuracy in a short space of time, we will have made a step forward. CDTA approval, despite it having taken way too long to acheive, will be valuable. It'll be typical if it is Orient Gene that feel the benefit!
@RosieNas, I don't think the FCA have them over a barrel. Amigo could have just shutdown and nobody would have got anything. The FCA just knew that the 1st scheme was unfair. The FCA will have failed if Amigo loans winds up and shareholders and creditors get nothing.
It's still a game of chess and an RNS stating what could likely happen is not signed sealed SOA 2.
I am sure they still have II's involved. I don't know the details.
First and foremost the FCA want the money to be paid in full to the crditors, secondly they want shareholders to suffer on the assumption that they all got into Amigo for a quick buck when they thought the first scheme was a shoe in. This time around Amigo are going to have to give them assurances on all that. But, nothing said in the RNS is a given. It is all there to indicate what could likely happen and as we have seen with Amigo things can change quickly. They were going to be insolvent and wind down if the first scheme was rejected.
Agree @Hereshopin with the idea that the equity raise for new lending will be required at some point but not for the £15m quoted in the RNS.
@RosieNas I feel your pain. I have been in Amigo for a long time, when the shares were more than twice the price of the 30p pre court case. Having been through all that I can still see the place for Amigo and it doing well and I don't beleive everything written in an RNS is gospel until it is Gospel.
"The New Business Scheme will require the Company to issue at least 19 new shares for every existing share in the Company. This will leave existing shareholders (unless they participate in the equity raise) with no more than 5% of the Company's share capital" This seems pretty clear to me.
If they have to do a raise, yes, but if they don't?
I can't see that they would be in a position to know that they had to do a raise and would only need to do a raise should they be allowed to re-lend.
So, the RNS is stating 15m, and likely, and a year to do it.
To me there is a lot of leeway for that to mean all or none will happen. If it is gestural to the FCA as part of the scheme then ok, but should Amigo re-lend on scheme approval and given the market conditions and the fact the company will be under a fair stricter guidline, I can see Amigo doing well.
In that scenario I see no reason to need to equity raise in the proportions suggested @HeresHopin. Is that £300m spoken about from a suggestion or does it have any credabilty?
I have read the RNS a few times now and just wondered if my understanding of it is correct.
So the line "The Equity raise is LIKELY to be undertaken by a rights issue for existing shareholders" would suggest that it doesn't have to be done that way by the use of the word "Likely"
It goes on to say about the 19 new shares for every existing share....
It then says "Amigo will have up to a year from the sanction of the new business scheme to complete the equity raise"
If part of the scheme being accepted is a return to lending the Amigo have a year to try not to need a fund raise. In that scenario will the rights issue and share dolution even be required?
Just wondering if anyone else has had this thought?
Thank you ISA. For those who didn't get in the effort you put in is invaluable. Don't let others behaviour make you think for one minute that the majority are extremely grateful for your efforts.
Resistance from 04/11/2020 and 27/01/2021 where an ascending trend began (5.3)
Trend topped on 02/03/2021 (19.9)
50% fibo retracement @12.7
Has dipped below this momentarily today (12.03)
I would say that it has bottomed out now and will start the next leg up
https://www.investing.com/equities/amigo-chart
Look at the chart on 5m view. Look at the volumes
New service available via NHS patient access app.
Covid anti body test.
15min results testing for IgGs protein spike.
Private paid for finger prick blood test.
May be eligible on NHS but currently limited availability
To just stop responding to DubleD and Real112. The more interaction they get the more they will carry on. I don't post often as most of the time it's just arguments or name calling. There not going to go away so just don't give them anything to talk about. Don't answer their messages and if they respond to another message then ignore their comment and go back to the previous comment and give it no fuel.
Just an idea as it's tedious scrolling through wades of BS. Just cut them off they'll get bored, and if they are paid they won't be earning.
Innova has been being used by the NHS for some time. Now out to the schools but that is because of stock already held. Once gone no more will be purchased as they are at best 50% accurate.
HL just gave me a price to sell my entire holding in ODX. 80p on 90k of shares. I have tried this dummy sell many times and never had a price. When we were up at £1.15 I tried it and the best I could do was max 20k. Must be lots of orders to fill ??
Yes, till stock runs out as they are really poor. That’s why pcr required to verify. No more Innova being purchased. Massive demand now for quality tests with the problems of new strains and vaccine efficacy.
From today school teachers are required to test negative using 15 minute LFT. If positive they are required to PCR test.
The 37k is just the tip of the iceberg. Poor database reporting has held these numbers back, expect to see the number found by lft to grow exponentially. As yet though no concrete evidence of whose lft is going to be used. One thing for sure it won’t be innova as they are too inaccurate.
Also might be the rating of 2(3) p target (HOLD) by Berranberg
I cannot confirm what upomega is saying is what has happened but if you were to ask me is water wet, then my answer would be, that’s exactly what it is!
NDA means this it’s just my opinion and in fact water may not be wet.
100/100 now on HL
Yes I saw 105/107 and now at 96/98 WTF!