Member Info for Malpenn

358k buy after hours at almost 77pence. Second day in a row... I think someone is taking a shine to this stock.

https://twitter.com/Ophidian18/status/1509177781007097858?t=UnEkdS33cYioxG7YOzIjew&s=19

NT to buy any shares with Halifax but they will take big chunks of my holdings...

the big news today is the possibility that Polymetal’s dividend could still be saved. It operates mines in Russia and in Kazakhstan. The company is reported to be considering whether it could split the Kazakhstan operations into a new business.

The Kazakh mines are low-cost operations. According to Polymetal, they generated revenue of $984m and sold more than 550,000 ounces of gold equivalent last year. Average cash costs were just $643 per ounce, making these mines highly profitable.

My sums suggest that Polymetal’s Kazakh mines alone might be able to support a dividend of up to $1 per share. Based on a Polymetal share price of 320p, that could give a 24% dividend yield.

The Ukrainian general staff of the military said earlier it had taken note of withdrawals around Kyiv and Chernihiv.

Satellite images will show very quickly if troops are withdrawing

Russia 'to drastically cut its military activity focused on Kyiv'
Russia has decided to drastically cut its military activity focused on Kyiv and Chernihiv, its deputy defence minister has said after talks between Russian and Ukrainian negotiating teams in Istanbul.

Especially given other signals coming from Moscow this morning and in recent days, this could represent a major development.

Russia-Ukraine ceasefire talks statement 'due in several hours' after negotiations end
The meeting between Russian and Ukrainian negotiators has ended, Turkey has said.

Teams had been meeting in Istanbul to try and agree a ceasefire, and an end to the conflict in Ukraine.

Roman Abramovich was present for the talks, but not officially part of the negotiating teams.

Meanwhile, Russian negotiator Vladimir Medinsky told Russian state television that he hoped a statement would be released in several hours.

Court Approved

This point hasn't been ignored but you have failed the mention the timescale... Within 12 months of the FINAL court hearing being approved.
How did you think the company would resume lending last year if there wasn't a right issues.
The rights issue in this case is to fund a fixed amount into the redress pot and then additional money raised from the same issue will find relending . This adds value to the company.
Of course the share price will rise if the May hearing is approved and then we deal with the rights issue at a late date, don't forget lending would restart on a small scale, so there is no urgently for the immediate right issue.

Home lending organisation within NSF is going into administration. The FCA must be aware that those with low credit ratings still need access to credit, while they still have EveryDay Loans as an ongoing business this must surely be good news for Amigo as more customers will require their services.

The best way to consider this is looking back on the previous case last year. Has Amigo address each of the judges concerns and reasons for rejection ?
The judges role is to ensure the correct legal process has been followed and that's he is happy with Amigos submission. Last time it was vote Yes or we go bust, on the face of things that's true but the judge didn't like the approach Amigo took and I agree, this time is different and everything I have heard and read shows the concerns have been addressed.
Claimants will vote Yes because they want some return, if Amigo goes bust the FCA and judge knows the claimants get very very little pence in the £

. You need to understand why the FCA objected at the last moment and why it has such high pri

Based upon what Red_inky ?
Do you understand anything about the history of Amigo, the sector and the FCA ?
Or just picking a number out of the air and posting it because you have nothing else to do !!

FCA wanted payday lenders gone and now they have with their 1000% loans.
Banks today charge 49.9% APR for overdrafts. Amigo loans were fixed at similar rates, so it was not they were seen as over charging but the FCA didn't provide guidelines for lending practices and yet Amigo was judge to be outside the guidence. Clearly this will not happen again and with technology like Open Banking it will be controllers.
Look at the competition today, EveryDay loans (NSF) charge 100% APR and they are still lending with growing customer base.

There is a market for Amigo new lending product but the BoD ****ed up the last submission to the court and Freshfields were useless... The same mistakes will not be made again.
The FCA didn't provide any guide

If you compare the share price of when we were in this position last time then there is value in the current price.
We have never seen the FCA comment in a positive manner about relending starting before.

The FCA were under massive pressure after the last court case, the redress claims were almost frozen and the poor darlings who lied on their applications had the wait longer. The FCA want to be seen as driving a hard bargain for claimants.
They have achieved this now and know the sector has almost disappeared for borrowers with bad credit so a lender needs to exist.

The missing point is the time scale "within one year"

As also stated in the update on 6 December 2021, the Company intends to raise capital, within one year of sanction of the New Business Scheme by the Court,

Very nice entry point....worked by the Mm's

You can only review all the facts and fix in your mind your exit and entry points.
This round of court cases are more complex than the first round, we did then have a massive U turn from the FCA. But hopefully the BoD have learnt from their mistakes but make sure you understand it's bondholders, redress claiments and finally shareholders in that order with Amigo and Amigo BoD want to keep their very high salary jobs at all costs
This is a high risk stock with high rewards so it's all about entry and exit levels.

Lloyd I believe the raise is for £15.million towards the redress pot AND for future lending funds. Many people have said on this board the 19:1 will reduce based upon SP, this isn't true because excess going into lending pot of money. Which will increase the company value but at a cost potentially to shareholders.
Any ups and downs, pick your moments to trade and make some money out of their rollercoaster.
Interesting times ahead !!!

and that is the only point which worries me about the current Amigo BoD.
They did not fully prepare Freshfields team last time, that is their responsibility even after paying massive fees and costs.
They have created all the points which the FCA have received the approved. So there must be depth to each point otherwise the FCA would reject.
As usual these boards are ramp , ramp without the full details from the company about shareholder interests.