Member Info for Malpenn

Learn to read Judge, I have never advised anyone to buy or sell.

Judge, get your facts right before you comment on my personally.
I commented about the potential issues that Amigo was facing on mainly from the 20th August and the share price was not at 12pence then.

There are two sides to the coin, I am sure if the price rockets today you would have called me out as knowing nothing.

This isn't a personal BB it's a sharing of information but clearly you are ramp ramp ramp and get you don't provide any valid researched information.

Newt, I think if you read my posts I have done my research but unlike others I never say this SP is going to xx pence or pounds.

That is what really annoys me and I hope you agree shouldn't be done.

BB should be about sharing research and then a discussion to see if we think it's valid or not. Information sharing exercise not "Hold the line" comments.

What do you mean try again ?

I totally agree that depending on the size of the spread a sell could be listed as a buy and vice versa.

If you think that buys are outweighing sells, then go for you..

I have a person view of what Friday will bring but today is not the day. People who listened to ramps have potentially lost some of their money.

This share isn't investing it's taking a chance..but the rewards could be high if everything plays out a certain way.

Apart from sells outweigh buys by 2:1

Don't be influenced by comments on this BB.

If you believe in Amigo log out of your dealing account and come back another day.

If you think complaints volume will increase come Fridays results then take a view but do this yourself and don't listen to what people are ramping/de-ramping about.

This is a PI share, in all the time of JB's selling we have not seen a single buying institution TR-1.

Can PI's take the weight of the selling today.

It will be ups and downs all day.
MM's know that people will buy back in and then they will drop, rinse and repeat.

Until results come out on Friday, it's a closed period no BoD can buy until after.

Reading trustadvisor comments it seems that Amigo have now adopted a policy of redress payment timescale of 20 days, from when the compliant is upheld. Previously it seems there was no standard policy, I see PDL companies doing a similar timescales of paying redress.

I tend to agree, I think the number will increase but I don't think it can be qualified yet. People on the last results call were trying to get from the CFO a physical number of complaints that there redress value equated to but he wouldn't reveal that and kept saying "Not for commercials reasons." We have been given a number in the past, hopefully on Friday we will get a number.

What I do know if that the FOS were previously saying a timeline of 3 months from receiving a complaint until it get assigned to an adjudicator but currently its way more than that and they are recruiting more people to deal with the numbers.

To me the volume of complaints is the biggest factor which will impact my decision to buy or sell.

I get what JB is saying that the UK will be a standalone entity but what I don't see is how he can move money out until all the complaints are dealt with or a JR is won.
I used an example before that there is no way the FCA would allow Amigo to issue a special dividend as a way to move the current cash pile back to shareholders but I think he is suggesting that money is moved from UK to the global business.

I would agree, he is simply taking "Amigo in a box" outside the UK. But it's the mechanism of paying debt off from the UK arm and moving that money into the global business.
I would love to be a fly on the wall inside the FCA..

Interested to hear from knowledge posters if they think the current amount of redress reserved for complaints will need to increase or if you think the current amount announced will be enough.

At what price ? Institutions will not touch this share now, it's all too maverick and public.

By making this all public the FCA/FOS now know JB agenda, sure they had a pretty good idea anyway..
But my understanding is that GC still isn't FCA approved for CEO role and if there is a plan to take money out of the UK arm to fund the expansion globally then I can't see the FCA being too happy about that. In the same way Amigo UK couldnt issue a special dividend to shareholders to reduce their cash pile until the complaints issues are sorted. JB is putting money into UK arm to reduce debt but is RG just going to be the debt provider to Amigo UK ?

Amigo UK needs to work with the FCA/FOS not put pressure on the relationship.

So JB puts money into UK arm to get access to Amigo in a box and takes it global.

There are certainly some sticking points that need more info but certainly a better position than relying on the old board aporoach.

No problem, itisagame.

Amigo in a box is what he is looking at moving forward but why hasn't the previous board taken that forward in the past ?

I totally get JB's logic.

This is a London Stock market traded company, using a 3rd party workaround isn't going to cut it to get around the FCA to lend to UK consumers.

My question is how much money will JB sink into the UK arm or does he just want a fight with the FCA /FOS for knowing this is the only way to save the UK arm ? No one knows this but hopefully we will get some idea soon.
Too much of this is being played out in public and I doubt II will buy into that, of course PI's will.

Lets see what Fridays results bring in terms of update on complaints

I doubt if a non-FCA regulated credit provider could offer loans to the UK customers based outside the UK.

https://www.gov.uk/offering-credit-consumers-law

If it was that simple Amigo would have just switched their operations to Ireland.

Sorry if I mis-understood your comment.

Good summary hunniford, only change I would suggest is that Nayan was shocking on the call and why he needs go. There were institutions on the call and all he presented was a lack of understand and provided only doubt.

Personally I feel the only option is voting with JB.

His money resolves this:
https://finance.yahoo.com/news/amigo-luxembourg-moodys-downgrades-amigos-142305176.html

The UK arm must win against the FCA/FOS, then everyone who owns shares are very happy. The other side to winning is of course losing to the FCA/FOS and that the risk that shareholders are taking.

The benefit to shareholders is that JB is suggesting to open up lending outside the UK, maybe similar to IPF ( yes I am invested in IPF). So be can built a new business but use all the Amigo IP to bring this quickly to market.

No suggestions of SP if you choose to reply to this please.

Sorry Knowles how is stating 100% facts de-ramping ? I am de-ramping because I am not saying what you want to hear. If the share price rockets on SP then I am wrong and will see it, I have my view and like everyone else on the BB I can share it.