Member Info for lloydyboy

https://investegate.co.uk/amigo-holdings-plc--amgo-/rns/board-change-and-senior-management-update/202011100700087501E/

Rns our- new cfo and risk manager

I agree Seamus

Well actually it said this, so who actually knows: As previously reported, Amigo is making preparations to restart lending as soon as possible, but given the continued uncertainty, we anticipate that this will be not before 2021. Given the low volumes currently being lent to key workers and owing to the challenges presented by the imminent second lockdown, we have decided to focus our resources on collections and complaints until we return to more meaningful levels of lending in 2021

It’s in the rns

They aren’t lending to key workers

absolutely. At the current price I cannot see why there is not some speculative financial insti's buying and holding. It is not even a punt for me at this price- it is priced to fail. Pathetic.

from itsagame's post. The amount of settled claims being so exponentially high was to make sure that the vreq was complied with. It is mental. But there was limited investigation on this and now we have the burden to bare. However moving forward from where we are today, right now, the company are doing investigations. This will help and also result in some people turning round going ''fair play amigo it was worth a go''. The latest trustpilot review is a girl saying the company took advantage of her when she kept on going on their website and topping up her loan. Saying that Amigo took advantage of her. It is like a bad gambler blaming the bookie. Or someone investing in aim trying to claim back from the company when the share price drops. Ultimately there needs to accountability on both parts. I read a FOS ruling the other day where amigo put everything in writing to a guarantor and did everything by the book- apart from one conversation where they did not say the full loan would have to be covered if there were defaults- I mean jesus christ- how does someone not understand the meaning of guarantor- even when it is in black and white. Thank god only 10% of guarantors in place made loan contributions.

Mark you back in? The company was openly for sale and there were a number of bidders. They then embarked on the formal sales process until JB vetoed it. ********* haha

Yes two separate balances iron

Bloody hell Seamus at least people know we aren’t the same person haha

No iron they stopped. In last update and for me this indicates the current application process needs work.

Absolutely agree. The fca could come back with this regulatory process in black and white we are hot to trot. This coupled with more favourable financing could make amigo brand new. Regardless of claims. This could kick on Mcap wise quickly. Not only that but amigo saying we are compliant will stop jo public changing their arm complaining. Read trustpilot- absolute joke

If the application process is bullet proof they can start when they want. This delay is to safeguard the application process against future complaints. I would anticipate that the board want clarification on how to service the guarantor market properly- Not because of an uncertain market imo. If anything uncertain markets create more applicants for a select amigo to chose from, so eyes on earlier than march imo

Great post- thanks for sharing

Since we didn’t hit 2p today....

If you are asking questions like that you need to research more. There was an investor call in July where there were multiple offers on the business. These were when we were in a formal sales process. This was then whittled down to one potential buyer when the Richmond group vetoed the sale. Worst case scenario there will be a buyer for a loan book. It is desirable.

There has been a high number of claim pay offs to get the company in a position that it was complying to the vreq. Of which the number of complaints for guarantor payments was only 10% of all the guarantor loans. That’s unbelievable and shows the model works. In relation to the credit line and triggers- for people to comment and say that this will be taken away when the libor rate is currently 0.14 against last year of 1.77 is mental. I am sure as eggs are eggs that amigo will be able to get a credit line and I would even hazard that it will be on more favourable terms. With Gary holding off on lending- if this simple fact would stifle the company he would be lending. The irony is that I spoke to JB and he personally told me after the vote that the company lending with the current situation is more damaging than beneficial. Now there is daily dialogue with the fca and I hope Gary is using the previous claims and conveying this with the fca to make the application process bullet proof. when the complaints are costing £5mil a quarter, amended rates rather than payouts to keep clients paying. People need to have a serious word with themselves and figure out why the share price is here. My view is the Richmond group destroyed it, glen has recently created an unsubstantiated drop and now- today- only today we are on a more level playing field than ever before and that is because we have no background seller. Now the market can establish the true value of amigo and for me it is more than 12p. November 26th will be big and all the questions that I have asked of amigo will be answered in that update. If positive we will all be thinking- how on Earth was I allowed to buy amigo shares at 5p???

Mark what’s your twitter name?

Interesting figure for you- only 10% of guarantors have ever been used to pay an instalment

That the fact that there has been a seller with Richmond group/ glen for what 5 months. There will be a point in which the company starts again and I hope it happens from 5p