Member Info for Novice82

Ha, just as I type that 222k shares gone at 108.96 and then 140k gone at 110 odd!

It would take something special for it to close above 110 now, there are 210k shares offered at 108.95 and then 90k at 109.3. Stranger things have happened, but a good day nonetheless

and into auction due to selling. Only Amigo can go into auction at one minute due to frenzied buying and then an hour later due to frenzied selling lol

The selling pressure is just relentless, day after day. I agree with the comments that the short sellers and algos are in full control here.

Looks like someones getting out today, seen quite a few 200k trades going through as well as a recent one for 1.4m

My guess (and it is only a guess) is because the bondholders felt that the writing was on the wall and wanted their money before administration. I dont buy into the whole BOD paying off the bonds early so that they could put money into the scheme, I think they were forced to do it.

Not sure Jimmy, I reckon EGM. Personally I think shareholders should call an EGM to discuss this situation including Gary's position and salary. I think 75% of votes are required to call an EGM, cant see that happening

Jimmy, the RNS stated that shareholders must approve the rights issue, or otherwise its administration. Once (or if) it is approved, yes you can choose to take them up, do nothing (expire worthless) or sell them in the open market "nil-paid"

They will only be lending 35m initially though right? I recall seeing that on one of the RNS

they should all be voted out at the next AGM.

@ itsagame, were they on the bid or the offer?

Looks like JPM are under 3%. The price action should be interesting now

And no, I'm not short of the stock, I would just like to understand everyones view of this.

Like I said - it will depend on how much better the NB SOA is compared to rundown in terms of compensation offered. The last SOA was pretty much "you get something or nothing at all., so its not really comparable. This time they already know that they will get a lot more, so I'm hoping the BOD can put together a decent offer on the NB SOA to eliminate this possibility.

The elephant in the room here is whether claimants/creditors will actually vote for the new business SOA as opposed to the managed run down option. To do so, they would need to see a marked increase in the amount they are receiving in the New Business SOA compared to what is being offered in rundown. This is not a given in any circumstance, especially considering how a decent proportion of claimants would rather Amigo go under than get a few extra pennies on the pound. This is probably what concerns me the most

Well that would be good news if that was the case...it all seems very over done

It's a strange one really. Only 1 reported short from Jupiter. The rest of those shorting must be holding less than 0.5% each, as they would have to report their short otherwise. I personally think it just short term market sentiment at the moment, paypoint isn't exactly the sexiest or exciting stock. It's a good top up opportunity I believe, as there is clearly value here.

It's pretty crazy considering the price was 1.75 a week ago. A 20% movement downwards considering results weren't overly negative

Agree, solid results and small increase in the dividend

Was just going to say...back up over £7 and long may it stay!