Member Info for Malpenn

The context I understood from the court case from the FCA was that unless the claimants received 100% then shareholders should almost have their holding wiped out, which is where the 5% came from, the wording was also a MINIMUM of 19:1.
Amigo need to comment very soon, now that the first court case is out the way.

Franky the whole topic of the right issue will be an interesting one. Surely the FCA sees that if people took up their full rights, if they are actually available in that way - then the whole outcome is pointless for the FCA.
I will certainly be speak to Kate about this to understand more details, Amigo have created a concept which impacts shareholders I will certainly be pushing for disclosure of how the mechanics will work and any limitations for shareholders.

I also think it will come good. The FCA are not blind to knowing that high risk borrowers need access to credit. The previous management could have avoid lots of problems by adopting technology like Open Banking,.I am sure the new Amigo products will be using technology that the FCA will approve and be within their guidance for future lending.
I remember reading last time around that someone had lost their daughters wedding or deposit money gambling on Amigo.
Research the past before you invest your hard earned money !!

Franky that is exactly my concern, remember the last court case when the FCA pointed out to the judge that Amigo were the highest riser on the exchange and that stopped the judge in his tracks.. Our highly paid Freshfields experts said nothing and wasn't prepared to comment about where the share price had fallen from.
The FCA will be in control here and entered the last court case at the last moment. I am personally not putting it past the FCA to make the 19:1 a mandatory requirement for relending.

Just paperwork to be signed off before the major court hearing in May. We have been here before... I wouldn't speak about return to lending before we have the result in May.
Discussions with the FCA seems positive but shareholders still have the concern of the 19:1, don't forget the FCA want shareholders to feel some/most of the pain here and Amigo need to update shareholders on expectations..

Very true point, there is nothing certain with Amigo.
Last year the judge approved on the same day, review RNS from 30th March 2021.
Hopefully just paperwork but never count your chickens with Amigo !!!

There will obviously be a pull from Amigo's positive discussions with the FCA.
The FCA are not blind to the fact that high risk customers need access to credit so NSF certainly have products in demand, they do need a better method to lower interest rates for regularly paid loans.
Amigo balance sheet was crippled by the level of expected redress, so shareholders will be taking a massive hair cut even if they do get to relend.
One point which is encouraging for NSF is the number of redress cases that the Financial Ombudsman is siding with Everyday Loans, which should limit their exposure going forward.
A large number of jobs are being advertised on the EveryDay Loans website, so clearly they are experiencing growth while other lenders are entering administration.
Looking forward to positive update about FCA discussions, they are clearly creating guidelines that Amigo must follow, so expect the same for NSF.

I think you are slightly overlooking the role and function of the court !!!
Maybe base your posts of facts.. look back a few months to Provident. FCA no objections and it passed.

3 X 500,000 buys have gone through in the past couple of hours.

Pleased to see continued level of interest after the placing.

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10pence was paid for the last batch of 250K purchased a few moments ago :-)

Due to the awful representation that Amigo was using our defence didn't clearly identify that the cash pile would be due back to the bond holders, the judge and FCA continuously pointed to the cash pile and questioned why more of the cash pile wasn't being used in the redress pot.. as it is primarily due to bond holders. This action also removes the risk of incompetent defence lawyers again.

The FCA would be fully aware of Amigo's intentions to repay bond holders. Look back at previous news.. the FCA previously only blocked Amigo releasing special dividend back to share holders from the cash pile.
In the previous court case the judge and FCA wanted to see a payment contribution from the bond holders towards the redress pot, this was never going to happen and was never in the interest of the bond holders, so now that argument for the bonders holders to contribute is being removed with early repayment.

Recyclable was mentioned as a future target by AS. That would be a game changer on top of the already outstanding technology/platform our tests are built on.

Come on ABDX there is massive demand for the Vatic product... announce the TT is complete and let's go and service the demand.

https://www.medisave.co.uk/vatic-knownow-sars-cov-2-anti-gen-test-kits-covid-19.html

But the key thing for shareholders is that additional revenue is expected from yesterday's update.
Of course a shinny RNS would have been nice but knowledge this is moving forward is what pushed the share price yesterday.

We have Avacta shortly which will require a RNS.

Quick drop and nice buying into the drop, let's continue

NT to buy via Halifax.

Vatic seem happy to post updates on Twitter

https://twitter.com/Vatic_Health/status/1445024401238413317?s=19

Here is hoping they Jim "import anything for a brown envelope Bethell has gone.

https://twitter.com/MalcolmPenn6/status/1438602694407696387?s=19

ODX previously said the 3rd party test developer wasn't Avacta but could it be Medusa19 who are OEM / licensing our test but the engagement is totally fronted by Medusa19 into the government, they are owning the user study.