Member Info for Novice82

True SIH. But at least this time (and probably this time only!) we can genuinely blame todays drop on macro!

I'm sure Mo can provide further information on the procedure/process for calling an EGM

BSB as a miniumum I think you need at least 10% of the shareholding to call an EGM - so circa 48m worth of shares collectively

Casanova?

That's my point TT - I dont have an issue with bottom feeders or whatever we call them, we're all here to make money. But I have noticed how Profit Jock goes through a phase of spamming the board constantly and then radio silence. Most of this board are LTH so they'll take his posts with a pinch of salt, I was just interested in his price target. 20x would be something...would take the price to roughly 30-40p depending on the spread! If it does do that, I'll definitely bump this thread and eat humble pie Jock!

ProfitJock - I noticed your posts on the Poly board. So, given that you're a short term trader, what's your exit price here?

Are you actually invested EOTB? I thought you were just trolling!

Thats what I was trying to understand BSB....whats in it for the claimants?

Somethings happening here..last few minutes some sizeable A-trades are going through

Mo - are you sure that's true? Because, in theory, that means that Amigo can keep deciding to set up a new scheme indefinitely until one favours them. Legally I cant see how that is possible.

SDN - instead of antagonising holders, why don't you just short Amigo via a spreadbet or something? That way, you can actually make money on your views if you're right.

Guys- question here. Has anyone here done the math on what claimants would get in the fallback solution compared to whatever is being proposed now? Im guessing this is they key thing that the court and claimants would want to know

Its worrying to think that had Daniel never had his rant, it is likely that the BOD would have sleepwalked their way to fallback. I doubt very much that this RNS would have come through otherwise.

Let's hope that they present and get this approved pronto.

Either this is a p&d...or interest has been piqued at 2p. 2.4 on the ask now

Something is going on here...the buy volumes arent particularly large but has sent it up to auction. up 21% now

It will be interesting watching the price action today. There were a LOT of buys when the price dropped to 2p on the ask in the last 15 minutes yesterday. Let's see if that continues today, could be a sign of accumulation.

The infamous Vinson held around 15m shares a while back from what a I remember Beastly, I recall him lodging a TR1 too. which leaves 3 more investors with approx 40-45m shares. Its plausible I guess.
In terms of litigation, I think it will be tremendously difficult to prove. Insider dealing always is. The Bybrook/JPM position sell-off always looked fishy to me given that 19-1 was announced barely a day after they had completely sold their position. The FCA shorting stock seems like a pipe dream. Best of luck though!

I've reported my own post and the mods have deleted it now - hope that clears up any confusion!

Agree HH - apologies! It does invalidate my last post, as this is a relatively insignificant sum compared to 45m. Bloody fat finger on the calculator

Having reflected on the comments from the Board, here are my opinions:

1. Large investments banks and PE firms are not considering underwriting the whole 45m. This is due to current market conditions, the impact of the affordability criteria currently used by RewardRate and the consumer duty legislation that is to be enacted.
2. The most likely investor here appears to be family offices/ groups of UHNW individuals.
3. The scheme terms CAN be changed/new scheme can be drawn up, however, it is very unlikely to be changed in time by the timeframes currently dictated by SOA2. There isn't enough time to go through the process of drawing up a new scheme, getting court approval and/or getting the FCA onside by end of May.
4. Basically, the management team are powerless here to change the situation - it all comes down to whether some UHNW investors/family offices are willing to take the risk. Even if they do (Jonathan Roe's own words here) the climate for mid-cost lending at this point is quite poor in the short term.

It's nothing more than a punt now. Good luck to all investors.