Member Info for Novice82

Whilst all of the war talk is interesting, has anyone noticed the large trades going through both on and off book?

No worries Mr E! DD - not 100% sure but would assume so.

No - they voted "for" those resolutions. either way, high 40s is a large percentage to be voting against.

Thats the crazy thing Steve....at this point, Boo are down 8% and THG down 10%. It cant last, it beggars belief.

wave after wave of sells right now, we might see 35 here. It is embarrassing to be honest.

Read it again Jimmy - it clearly states that " Company will seek to facilitate meaningful participation by its existing shareholders on a pre-emptive basis, underwritten by one or more institutional investors whom it expects to account for the majority of the Capital Raise." it refers to participation by shareholders as being "meaningful" whereas the institutional shareholders are expected to account for the "majority" of the raise. "Majority" will mean more than 50% of the 40m

My thoughts entirely Beastly - 10-15m from existing shareholders looks likely, which isn't as bad as first thought. Just a waiting game now until the wheels are set in motion.

Interesting view Beastly. I'd argue that they have constantly made inferences that lending would commence a LOT earlier than Feb 23 (to be accurate, they have repeatedly said "we hope that it will start within the next couple of months) but I don't disagree that the AGM vote may have shown a lack of confidence in his abilities. Either way, he hasn't covered himself in glory.

Almost all of the old guard have gone, its now a 3rd CEO and CFO in as many years (approximately- dont quote me on that!) so let's hope these are the right guys to inject some fresh confidence and perspective into the business.

I don't think its great news tbh, the CEO has chosen to leave before lending has actually restarted. His remit was to get "turn Amigo around" and get them relending again, hence it's strange that he has left despite the the majority of the legal hurdles now having been negotiated. It all makes sense now why he didn't present the last trading update (some feeble excuse was given about him being on holiday.) I can't understand why he wouldn't want to stay if re-lending is imminent, as the whole SOA fiasco has been a sobering process for him.

On the plus side, it is really encouraging to see that the SP hasn't reacted, as normally Amigo would tank even on news that is expected/baked in. It will be interesting to see how Danny approaches things, maybe a fresh start is exactly what is needed.

Aaaaand into Auction.....

Given that a large proportion of amigo's shareholder base are private investors, it would be interesting to see how many vote in favour of the boards' renumeration and to re-appoint Gary in general

itll be lucky to hold 68 at this rate....the book has literally been sold down since 3.57pm. Lets hope so

Personally, I don't that's the reason why the sp is rising. Irrespective of dilution, the share price shouldn't really have been so low given that all of the legal hurdles have passed and the reg hurdle should be negotiated in the future. The sp is just catching up really.

shenanigans methinks....

Thanks everyone - chique included!

Hi - sorry if im being a bit thick here, but im struggling to understand the following paragraph:

Net debt as of the end of Q2 stood at approximately US$ 2.8 billion. A quarterly increase of US$ 0.8 billion was driven by bullion and concentrate inventory accumulation, accelerated purchases of equipment and spares, funding of the critically important contractors and suppliers, and upward US$ re-valuation of ruble-denominated debt driven by significant Rouble strengthening during the quarter.

Why is inventory (or is it the storage of inventory) regarded as debt?

I was hoping that it was just PIs selling small sums (which has been the case for a while now), but whilst the sums are not particularly large, they are all on being filled on the order book. Its getting smashed now, no two ways about it.

Its hard to disagree now...the selling pressure is immense

depends on the price that you receive when selling the rights....

its the same as how you would sell a share normally through a platform. The rights will be deposited to your account as a separate holding