Member Info for parmxz

In Director Deals, it says as if the director baught the shares for GBX 1.5 millions. That's huge sum to invest.

Just 45K? I see a lot more than that amount.

Trade Date Action Notifier Price Currency Amount Holding
14-Jul-20 Buy Rémy Welschinger 2.78 GBX 250,000 14,528,844
14-Jul-20 Buy Rémy Welschinger 2.90 GBX 100,000 14,278,844
14-Jul-20 Buy Rémy Welschinger 3.00 GBX 100,000 14,278,844
14-Jul-20 Buy Rémy Welschinger 2.93 GBX 100,000 14,278,844
14-Jul-20 Buy Rémy Welschinger 289.00 GBX 100,000 14,278,844
14-Jul-20 Buy Rémy Welschinger 2.90 GBX 100,000 14,278,844
14-Jul-20 Buy Rémy Welschinger 3.00 GBX 250,000 14,278,844
14-Jul-20 Buy Rémy Welschinger 3.30 GBX 500,000 13,528,844

@Mb018538, some of the complaints could be related customers complaining about haveing been given chance to borrow the money from the company when his/her credit checks don't pass. In this case it's not just the interest, the loan amount also could be removed from the payment. (It's akin to Casino letting a person play after he/she self-excludes. Casino responsbile for any amout of loss and has to pay). I know it sounds ridiculous. That's how some of the regulations could be. Don't take me as de-ramper. I understand there is real value with the company (before FCA thing and the complaints). But there is a lot of informtion yet to be published related to kind of complaints they are dealing with and the FCA investigation and weather they will be allowed to ask the borrowers to sign up family or friends as guarantors in future or not.

From BBC news article -
"Amigo lends money to people with a poor credit history, but has been criticised for asking borrowers to sign up family or friends as guarantors.
the firm said that the investigation would focus on whether or not its credit checks on borrowers were carried out in line with lending rules."

@Greatcrestednewt, that's not my regular strategy. But I do it once in a while. I wish you and other LTHs good luck.

@E_AL, thx for that info, do you have information about FCA investigation regarding the Amigo's affordability checks? Related to this -
https://www.bbc.co.uk/news/business-52882272

@Greatcrestednewt, I really didn't know at that time about the fundamentals or JB selling. The reaons for me buying - based on the graph and historical levels, it was very low (around 6 when I saw) an it was rising and quickly jumped in 7 and added some more at 8. I thought it was less risky at those points. I did quick research and realized the risk later. Later they released RNS about FCA extension and the potential increase in dealing with the complaints.

Definetly. But the fundamentals may shift if the things (complaints, JB sells, when they are going to start loan lending and etc) are not handled well. Hence the risk. It all depends on how much they have to spend to clear the complaints and what % of complaints they have been recieving and whats their strategy to address in reduction of complaints in the future. If their measure impact levels of their income or does it impact the sustainability and etc. On the top of these, the regulatory things with FCA. Other sub-prime lending companies have been closed. Why were they closed if they see there is chance of money making?

I baught it between 7-8 around the big rise. I quickly realised the risks involved with it and sold it around 11.9. Decent profit. I am not going to touch it at this levels. Around the big rise risk was high and the reward was high. But now risk seems to be the same but the reward seems not much due to these factors - They halted the loan lending for now which means no new income, they clearly announced complains cost could be higher than they initially anticipated, new complaints are coming regularly and JB 1% dump every day. These all add to the sentiment irrespective of its real value.

People should understand. Nothing has changed much when it was in 5 except the FCA extention till Oct. On the flip side, we have massives shares to be dumped by JB. There is very good chance it would go back to 5 or below 5 in coming days.

Another 43 days to go with JB's selling. The price already sub 10. Soemthing needed to boost the confidence.

I guess 1% applies to the parent org, not branches. Otherwise, number of companies manipulate via branches.

If US fund is buying, are they (or Amigo) not obliged to annouce it through RNS? I guess the holders above 1% is obliged to release the RNS. Twitter is ripe with market manipulation. Beware.

ohmarko I guess below 35 may not impact HUR has hedged at that price.

I baught at 17.50. It started sinking.

vauch, it was with HL. It sucks. I wanted to transfer my account. I face this issue all the time in HL.

I wanted to seel when it was 1.3+. It didn't allow. I tried 5k, 10k. No luck. I set the stop loss @ 1.1. It executed within a few seconds. 2k profit not bad.

People should understand where the EUA was till mid 2019. Many don't see the value when the things are in exploration mode. 2020 should have been transfermational for UKOG. Covid and other things slowed down. It definitely has good value.

Article from Dec 2019.
https://www.fool.co.uk/investing/2019/12/21/3-reasons-why-id-buy-the-ukog-share-price-for-2020/

3 reasons why I’d buy the UKOG share price for 2020

I turned cautiously bullish on the UKOG (LSE: UKOG) share price in the second half of 2019 as the company’s plan to become one of the UK’s largest onshore oil companies started to gather steam.

And considering the progress the business has made over the past few months, I reckon 2020 could finally be the year that UKOG’s shareholders are rewarded for their patience.

Oil production
Over the past 12 months, it has graduated from being an oil explorer to an oil producer. As my Foolish colleague Alan Oscroft recently noted, total test production was 77,200 barrels in mid-November, and it has risen further since.

While these numbers do not tell us much about daily production volumes, in my opinion, this level of production is still a big deal. UKOG is producing oil and that means the company is also generating revenue. It might not be a huge revenue stream, but the business needs all of the money it can get while it pushes ahead with development plans.

Cash flow
This production has given it some much-needed cash flow. For the six months ended 31 March 2019, the company booked £1.6m of receipts from the sale of test volumes. This helped reduce the overall net cash outflow from investing activities from £5m for the six months ending March 2018 to £1.7m for the 2019 fiscal period.

Since these numbers were published, UKOG has continued to produce and sell oil. Therefore, I expect the company to reveal a big jump in cash flow figures when it reports its final results for the year ended 30 September 2019 next year.

And the company should report further progress in its interim figures for the period up to 31 March 2020.
Financial stability

The third and final reason why I think the UKOG share price could jump in 2020 is the company’s improving financial position. I’ve already covered the firm’s growing cash flows above, and it is also reducing debt.

At the beginning of August, UKOG agreed a £5.5m financing package with Riverfront Global Opportunities PCC Limited and YA II PN Ltd with an interest rate of 0% and maturity date of 16 August 2021. Over the past few weeks, the lenders have been converting sections of the loan into shares, which has reduced the outstanding balance to £3.8m.

Unfortunately, these conversions have diluted existing shareholders, but I think UKOG made the right decision by agreeing to borrow the money on these terms to fund its well development.
Now that cash is flowing into the firm’s bank accounts from oil production, it might be able to agree some funding from a more traditional lender, reducing the risk of further dilution. To do that, the company will first have to pay down the £3.8m liability, but that is already happening.
The bottom line
All in all, 2019 has been a transformational year for UKOG and 2020 could be

Press picks what they can easily understand leaving the finer details.

could be false rumours