Member Info for lsetown

You must have averaged down well by now so maybe it's time to stop!

The buys and sells markers are only indicative and are decided on where they lie between bid and ask.

You can't rely on them at all - infact I am sure that sometimes the spread is manipulated to hide the true buy-sell amounts.

Do most complaints get to the FOS though? - each one costs £650 just to instigate and I believe Amigo is often deciding claims itself if it knows which way the decision will go.

The Provision number "in excess of £150 million" is the interesting one.

I read elsewhere that they are "imminently" (Rockhopper in-joke lol) going to fix it.

lol. a fraction of that would be great!

I admire your confidence Vinson. It will be an amazing amount of money if it comes off!!

Personally I'm not confident here. The Provisions are getting larger and the non-interest part of the loan book increasing. Their loan revenue is being challenged.

What happens if after the current investigation the FCA hits them with a substantial fine or asks for more payouts? There will be no equity left!

Thanks Ironhide.

He did mention negotiating the £150 figure, but I can believe that the loan period doesn't change.

But how many of previous and future complaint settlements now have 0% loans?

If it become significant (the previous settlements and current provisions are very large) it will surely threaten the business model.

Over on ADVFN Brocksford (thanks) posted a complainant's posting from Facebook.

"I had £10000 loan paid it @£427 pcm for a year ish still owed £9k nearly ( total loan and interest £21,000 )
Win my case on affordability, did it all myself no 3rd party company
They have cancelled all the interest & released my Guarentor too
I’d paid £5700 in total so own them £4300 which I’ve negotiated from £427 a month to £150 all interest free and they have just updated the credit files to reflect this outstanding balance too."

So there are three parts to this redress:

1. A cash adjustment (which I guess comes from the £150m+ Provisions figure?)
2. A reduction of the interest rate from 49.9% to 0%
3. An extension of the loan period.

2. and 3. have significant effects on the loan book revenue but I personally haven't seen these discussed in Amigo's reports.

I like your style!

It's not how I read it.

They said that by increasing the Vreq time, more complaints are covered.

Why would any complaints be excluded from the Vreq in the new period?

sorry 3rd July 2020

Frankys1971 - the 3rd July 2019 RNS said:

"The extension of the VReq from 26 June 2020 to 30 October 2020 implies that the number of complaints covered by the VReq will be substantially increased"

If a 4 month extension increased the complaints, how many more have there been outside this?

Anyone know where the senior secured notes trading price is listed?
Where are their Prospectus documents?
I can't seem to find either.

Aren't Provisions part of the liabilities?

and the last:

d) He thinks it is doomed - but is wrong.

You have to confirm your email but it is easy to do and well worth watching:

https://webcasting.brrmedia.co.uk/broadcast/5f7ee84cc4d0076f2b93d750

I wonder if there are buyers for our SA licence percentage?

The funds could be put into Cameroon.

Interesting - thanks.

It's a private company isn't it so we probably can't see if they have spent it.

Surely Tower's Cameroon project would be interesting to them too - didn't JA mention them as a possible farminee?

Ok, Cameroon is taking time but we are in the middle of a pandemic.

Also, it's only in the last week or so that Total have drilled the second successful SA well.

I reckon we have to "Hang in there!"

And they dropped it to .3 earlier!

How many people's stops were called?