Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Those with loans will be able to apply for the concession up to 6 months from pre determined time. Therefore, this is open to all Amigo's with loans. Inevitably a lot will say no to the agreement which is why by including everyone for a Freeby it could well work.
That's how I usually think of creditors although the RNS starts....
It is anticipated that the Scheme will commence as soon as practical in 2021 and is subject to the approval of the requisite majority of Scheme creditors (i.e. those with Redress Claims)
SoA
Amigo need approval via the creditors. Am I reading the below correctly? That is, anyone with an Amigo loan can apply for the reduction and is this part of the way of getting creditors to agree?
Under the Scheme there would be an automatic right of set-off for the redress due to claimants against their current outstanding loan balance ("Balance Adjustment").
It's easy to become twitchy when the share drops like this. It raises concerns for me too which is probably why I am posting more than normal. That said, I invested on the basis of the new management team, the brand value/name and the economic conditions for lending. None of this has changed. Neither has the complaints situation although today shows progress on this front. Plenty more newsflow to come. Hopefully positive at that but we will see. Nothing has materially changed for me to change my position or reduce my risk level. GLA
I tried marmite and did not like it but like Amigo under the new management team. Each to their own and we all take our positions, buy in or not, and take our chances. The odds look better to be for reasons stated many times on this board. Odds on this will beat 10p again at some point for example. GLA.
I know. It's all pretty grim and I blame the labour party for not supporting the soft Brexit under T May. They will come to an agreement and it's theatrics atm. Probably not the deal we wanted though and let's see how Boris sells this to the public.
Still-a chunky 1.186m after close buy helps...see investing.com