Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
Trading212 have managed to separately fill £279 and £19 of a £1,000 buy order at market price placed at 10am. I contacted them and they cited low volumes and told me that trades can take days!
Thanks I was with HL for my initial investment but I thought I would try Trading212. They don't seem to be as efficient.
Trying to top up under 10p again today and despite sales outstripping buys by nearly 2 million volume. My 10,000 share purchase is still waiting after 1hr. Go figure 🤔
Looks like a 10p by Friday end to the week !!
Monday is Santa's Rally Day!!
Scheduled for the 11th but may be postponed until the 18th.
MH01 at the AGM on the 6th the CEO reiterated that the updates MRE is still on course for December. This is one more tree shake prior to RNS on the run up to Christmas.
The current baseline of around 9.9p for buys need to be put into context with 6p just 9 weeks ago on Friday 13th October. There was a similar retrace between Friday 17th November and Friday 24th November from 10.7p to 9.7p before it headed north again to a high of 11.5p on Monday 4th December. I never thought I would get a chance to top up at sub 10p but here is that chance and I have taken it. Long term holders will know the drill only to well. (Pun intended) We all know what's coming. Hold hold hold. Good luck all.
Buys outstripping sells by 7 to 1 so far this morning. All is well in Greatland! Hold Hold Hold. Good luck all.
Usual Aim day. No need to look under any stones for reasons as to the sp drop. Buys outstripping sells 2 to 1.
£2.57 million bought and £1.27 million sold without the usual UTs. Nothing to see here, just top up if it suits or hold hold hold, if it doesn't. We all know what we have. Good Luck All
Never thought I'd see sub 10p again. Time to top up before the this price is history.
Absolutely!!
Maybe the last chance to top up sub 10p. AGM on the 6th and revised MRE due too. 🤔 🤞
Good luck all. 👍🏻😎
Do your own research. There are some good things in the pipeline here but as with most aim shares, a lot of people get burned when carried away. Around 70% of all shares in this company are owned by board members. As always, do your own research. Good luck.
Interesting. I've never heard of.SVE but I see that they hold a large number of GGP shares and will be distributing them amongst their shareholders giving 4 GGP shares per 3 SVE shares. If the shareholders vote for liquidation of the company and removal from Aim. SVE shares have risen from 6p to 10p. They are looking to de-list by the end of the month.
Just out of interest, has anyone invested in Newmont shares? They have certainly dropped quite substantially. Currently down to $35.60 from a high of $82 in April 2022.
Analyst, investor and bondholder conference call and webcast
Amigo will be hosting a live webcast for investors and bondholders today at 09:30 (London time) which will be available at: https://www.amigoplc.com/investors/results-centre. A conference call is also available for those unable to join the webcast (Dial in: + 44 20 3936 2999; Access code: 828935). A replay will be available on Amigo's website after the event.
The presentation pack for the webcast shows the reconciliation between the PLC results and Amigo Loans Group Limited (the 'Bond Group').
Financial Headlines
? Net loan book reduction of 9.1% year on year to £643.1m (2019: £707.6m)
? Revenue growth of 8.7% (2019: £270.7m) to £294.2m
? Impairment:revenue ratio at 38.5% (2019: 23.7%) reflecting material impact from Covid-19*
? Operating cost:income ratio (excluding complaints) of 20.2% (2019: 17.5%) due to increased investment*
? Complaints cost of £126.8m and complaints provision of £117.5m as at 31 March 2020 driven by an increase in complaints volumes (complaints cost 2019: £0.1m; complaints provision 2019: £nil)
? Reported statutory loss after tax for the period of £27.2m, (2019: £88.6m profit)
? Total dividend per share relating specifically to the financial year: 3.1p (2019: 1.87p) as paid in January 2020. To conserve capital the Board is not recommending a final dividend
? Net borrowings/adjusted tangible equity: 2.4x (2019: 1.9x). Gearing remains low at around pre-IPO levels*
? £64.3m of cash and cash equivalents as at 31 March 2020 (2019: £15.2m); unrestricted cash balance of over £135m as at 30 June 2020
? The Board notes that a material uncertainty exists relating to going concern due to Covid-19 and the potential for either a sustained high level of customer complaints redress or a negative outcome of the FCA investigation (see note 1.1 to the financial statements). Despite this, the Board considers there to be adequate liquidity to continue to support the ongoing business activity
Operational Headlines
? Lowering of overall Group risk appetite as the regulatory landscape continued to evolve resulting in (i) lower levels of repeat lending and (ii) increased lending to new customers, as a proportion of originations
? All new lending temporarily paused on 24 March 2020 in response to Covid-19, except to key workers in exceptional circumstances
? Formal sale process (FSP), launched in January 2020, terminated following withdrawal of potential acquirer. A strategic review is ongoing
? Shareholders voted against all resolutions to remove the Board and appoint new directors at the General Meeting on 17 June 2020, which was requisitioned by Richmond Group Limited (RGL)
? Post-year-end agreement reached with FCA on resolving complaints backlog by 30 October 2020, and FCA investigation into Amigo's creditworthiness assessments initiated
*Detailed definitions and calculations of these alternative performance measures (APMs) can be found in the APM section of the financial statements
Commenting on the Full Year results, Roger Lovering, Acting Chair of Amigo, said:
"The last 12 months have been a challenging and difficult period, which is reflected in our results today. We are operating against an evolving regulatory picture, while facing economic uncertainty due to the Covid-19 pandemic. Subsequent to our year-end, we have seen a substantial increase in the volume of complaints and this has led us to make a significant provision, which resulted in an overall loss for the fina
Mark. You are a gentleman. I take my hat off to you and wish you all the best.
We all have different positions. I do see the company and share price recovering but I am not as blindly optimistic as some on this bb that seem to think the final results on Monday will be like mana from heaven and this share will break all records for an increase. The earnings could be fine and in line with market expectations but the fact remains that the new CEO does not take over for 2 more weeks, Richmond group still have to sell down their stake. I am aware that he has a move up his sleeve for when he hits 10% he can call for a change and another vote when his sold shares will be with "friends" and he will outnumber the private shareholders. The revised figure for funds set aside for compensation will be announced I presume.
So what in all honesty is going to cause this massive rise in share price on Monday? Exactly what additional news are you hoping for in the end of year results that will warrant a huge shift upwards? I don't see a major sustained move upwards until the new CEO is in place and has made some announcements that would hopefully be positive with regards reducing the claims and compensation. Approval for future lending would be excellent and obviously when The Richmond Group is approaching their 10% threshold so that changes can be made.
People have invested at different times and have different averages. I had bought in at 16 and averaged down to 12 by tripling my holdings and watched the share drop to 8 before deciding I had to bail and wait to buy back in cheaper in order to recoup my losses. That may prove to be a wildly wrong move and some here will laugh at my loss and tail of caution but it is fact. I hope everyone makes money out of this share but please don't get spiked on Monday morning trying to buy in and then get trapped or faced having to accept a big loss. Day traders are like gamblers, most will only regale you with their tails of massive wins. Buying exactly at the bottom and selling exactly at the top.
I have been on here and read enough bbs to realise that the the MMs do not very often deliver what the optimistic punters think should happen. These boards are strewn with investors complaining that they can't believe the share price has not gone up significantly after good news and these care companies that don't have any negative baggage that needs dealing with. Whichever way you played this, I wish you all the best and let's see which way the pendulum will swing on Monday. Personally I don't believe it will finish the day above 10.
Longer term, I do believe the share price and the company will both recover but it will take time. Good luck to you all.