Member Info for mariog

In the prior year, the Group incurred GBP80.6m of exceptional costs that comprised: GBP12.8m of costs related to fees and other costs associated with the lapsed offer to acquire Provident Financial plc as well as the related proposal to demerge Loans at Home; the write-down of the value of goodwill associated with Everyday Loans of GBP44.8m; the write-down of the value of goodwill associated with the Group's Guarantor Loans Division of GBP8.6m; and the write-down of the value of goodwill associated with Loans at Home of GBP12.5m. A remaining GBP1.9m of exceptional costs relates to management restructuring which took place across the divisions in 2019 (Loans at Home totalling GBP0.2m; branch-based lending and guarantor loans totalling GBP1.1m; and the removal of a Director within central totalling GBP0.6m)

Loss is big as it reflects a write off of Guarantor Loan business. Other two segments will be the core business now. Actually GL never was core, but it messed up only here. For me the news are expected.

Price moved to 5p yesterday. Wonder if this will be the new floor.
Good to see GL business to be closed. Similar move as Provident did recently.
Big loss but low share price is reflecting the current state of events.
Cash higher as of now than at end of December. Capital rise to happen. Capital rise to unlock 200m securisation facility and allow company to extend Term Loan, which is good news.
"-- Current trading: month on month growth in loan issuance in both branch-based lending and home credit, combined with historically low impairment, has meant that the Group is trading ahead of budget."

The key word to look for tomorrow is to see if the group is profitable from start of 2021 or not.

Fingers crossed man. Hope the February news are kind of repeated and it will jump significantly from this crap low level again.

many buys, can pop at any time imo

they can easily do that later, but first they need to sort that GL issue

share price is holding well. Results on 30th of June. Last time in Feb we went up from 3.5p to over 8p! hope this will jump at least to 6-7p this time.

still rising

I would love to see Marathon increasing a stake here

Glad we didn't sell under 4, right ;) ?

that's another large trade this week

It was so easy to return close to 5p so will be easy to climb above it I think. Wish we had Marathon loading up here.

Yes. Unless they subdivide the share price, however as the price proven to be strong enough to held over 5p, they may simply buy some shares now to lift it above 5p. Really we missed the chance to add but in fairness the scary tactics were not helping anyone.

Interesting times. Pity we haven't bought more under 4. Price still below nominal 5p.

People averaging it down I suppose. News about funding and then hopefully news about discussions with FCA.

Once retail investors stop banking their losses, the price will return to at least 5p. That's what I think is going to happen soon. Fingers crossed.

Hard decision, but look, retail investors, all investors are no longer in profits here. Back in the days before update 23th Feb none of us saw the light, but then an update unexpectedly lifted the price from approx 3.50 to 8p so that was way more than 100% and that time we also heard about dilution coming soon (in Q2, now moved to Q3).
Risky to buy and risky to sell this share the current climate.
Important news here in 1 week.
One positive for the sector, Amigo sentiment is slowly coming back. Anything can happen I would say.

could be also a trade that have been built thru the day and reported after hours. Volume is up so the amgo is no longer in coma

True. Last RNS looked like prepared in a hurry and instead of highlighting recovery, which was mentioned at the end, the update highlighted the share issue only.
This can't really drift much lower. We are at 12m mcap. This is like 5-10% of the all loans book issued to customers. So weird valuation here.