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Also
the statement in the RNS that says "he FCA has identified certain concerns with the Scheme which it has drawn to the attention of Amigo and SchemeCo" makes me think that Amigo and the FCA are constructively trying to work things out so that the Court will be able to see fair process being applied
Hi Amigo's
I see the court being offered a few challenges with the SOA approval, namely the FCA stating that the SOA "may not be compatible with the FCA's rules, principles and strategic objectives"
What are these rules, principles and strategic objectives?
I'm guessing that fair compensation on mis sold loans is the main reason and the SOA would mean that claimants may not get full value for their claim. Its what the FCA do and why they are there to regulate lenders.
I assume Amigo will have a very strong argument that those claimants who do have a valid claim will be allowed to claim but the fact that CMC's advertise and specifically target people who "might" have a claim should also be assessed in this argument. The massive increase in claims can only be from mass marketing to people who think "what the hell, I'll give it a go" as it really has no downside for them with a no win no fee claim. The major downside is the fee accrued to the FOS for the investigation...sadly this fee is due by Amigo and not the CMC I believe so there is no real upside for Amigo in fighting this given the way the system works at present.
Lets hope the court see's the potential for a company to address its bad management in the past and try to rejuvenate itself into a credible fair lender with proper checks and balances in place.
Still a strong Hold IMO.
Might explain the dip in price today
https://www.fool.co.uk/investing/2021/03/09/amigo-holdings-share-price-is-rising-should-i-buy-the-stock-for-my-portfolio/
Balls of Wood or what ever we were called are still here! Its up to you all but I still say hold this share imho
After all the business model is sound and this way they might succeed regardless?
I.e. could Amigo be looking for cash so that if the SOA fails they’ll have the cash to deal with the complaints provision?
Maverick - do you think these shares are derivates swaps?
Strange these jobs are not on Amigo website...Remit group is the company hiring...not that using temp agency’s should be an issue tho
I just love psychics....would be nice tho!
Cant buy seems right, tried over the last hour to add shares, various combinations from 1000-100,000 was not possible. Eventually placed a market order rather than quote and it was filled almost immediately...strange
Feels like a Friday, so much has happened in the last couple of days!
Pullbacks are always going to come, if this share truly is being gobbled up by JPM ByBrook etc then I suspect the drop in SP is a search for shares on people’s closely placed stops...it’s up to you all but I’ll be holding my shares...I feel this has an eventful (that’s ups and downs peeps) week to come!
Always Imho and don’t quote me...I’m not that good!
1% royalties Chris? Or just all the tuna I can make into sushi would suffice!!
AndMeGoFishing !
as far as I know its not a specific date, just when the FCA have concluded their inspection and understanding of what Amigo are trying to do.
Appreciate the answer Fuzzbox, just so I'm clear if I bought say £10,000 worth and it went to £20,000 would that be a 1x bagger? Im only asking as my share platform doesn't seem to calculate my P&L % in the same way? I assumed when this read 100%/200% etc that would be a 1x or 2x bagger?
I never understood the term bagger?
Simply I assume its a simple maths equation....buy at 9p sell at 18p and its a bagger? Or is it more ROI i.e gain from investment - initial investment divided by initial investment?
suspect we'll see a drop before close.....but after a 33% rise in one day can't argue with that!
Hit there 3 times in last few mins, at 16.50 right now
Just hit 17p buy on IG
Strangely flat since 12pm today?