Member Info for rickmeister

Prolee. Absolutely correct. Administrators are only there for the creditors, with the secured creditors at the top of the pyramid. The assets will be liquidated and the company wound up, with a lot on money going in insolvency fees. Unsecured creditors and shareholders will get zip, but those with loans will still have to pay up and the administrators will chase them.

On a more positive note the sp has been moving steadily north in sweden and we are now lagging based on a 11.73 exchange rate. Hopefully the wily swedes know more than we do!

If we pass the emissions tests this should motor nicely. GLA

If this goes the same way as Wonga, everyone, except possibly the secured creditors, will lose out. Unsecured creditors will get a minor percentage of their claim (if anything), borrowers will still have to pay back their loans to the administrator and shareholders will be wiped out. As we saw with Wonga, no company can withstand an indeterminable liability-there has to be a ceiling to the liability that allows Amigo to trade. A lot of the claims against Wonga were encouraged by CMCs as is the case here. The CMC's insure against their losses to the detriment of the claimant. This is an area the FCA should also be looking at. Amigo's future is in the balance.

Are you sure? Showing down, albeit 15 mins behind real time.

The BoD have dug themselves an uncomfortable hole. If I was a creditor I would no longer trust the threat of liquidation if they go back for a second agreement. Allowing creditors to benefit from an equity stake so they are encouraged to support the company going forward looks to be the best solution. As a threat it has played badly with the FCA and judge.

This saga and today's RNS is acutely embarrassing for Vald and Mrs Vlad, having owned a third of the company they now own less than 20%. I trust they will learn to manage things better or employ people who can. Hopefully the company can now concentrate on the clinical side and start to regrow the business. One for the long term hold now, methinks.

Ninja. Sorry to hear you've no spare money for a top up. Why not ask Amigo for a loan?

Sporty. In fairness to the Fierce article is does imply that BSM were guilty of buying into a product, in late stage trials, that would give them a speed advantage in a very high value market. I assume that if there had been any impropriety on the part of Inhibex they would have been after the co or its directors. Invariably in these sorts of deals, directors have a duty of honestly clause. Unfortunately it was a damp Squibb ! PS where are our Accustem shares?

Absolutely right at 7.21am. Where do some people get their ideas from.

Yes. That is the only marginal positive from a very poorly managed funding. At least Vlad, via his wife, owns 1/3rd of the co. so this hurts him as well.

This has been an unmitigated failure by Vlad and the Board. Effectively we have a placing at a low entry point when this could have been done at a much higher SP. Next RNS should the announcement of the replacing of the FD. Vlad id going to need some very good clinical news to move the company forward.

I wonder if Mint were giving Vlad a warning shot as to what could happen if he doesn't get his act together. A big drop in the SP is very painful for him, personally.

Ssccss. 2 questions, one already asked. Was there any chance that Mint were caught out by the announcement that GlobCo wouldn't take up the Option. Second, as already asked, why is someone taking up the forward sold shares if the market for them is in freefall. Only MInt have control of the rate of conversion and therefore SP.

It was a rhetoric question-yes I know its GC. My point is the process has been a shambles and I would have expected better from him and his board.

Not sure who is driving this bus but its all over the place. Having abandoned LSE, all we know is that they intend/hope to list on Nasdaq but we don't know when, how or even a hint at a value. It is a shambles.

Its a good question and in April alone Mint have converted nearly 55m shares, over 10% of the co. Difficult to see how they could have sold them in the open market. Only on the 26th April were enough share traded to reflect the number drawn down announced that day.

If Dufresne is a pseudonym then it either appertains to the Ash tree or from the Urban Dictionary the definition is , misleading a person or group to exit an area without announcement while leaving those behind shocked, surprised (and potentially in harm). Are we being dufresned by Baylan and Lofven

As I read it Mint can (probably will) convert the first £12m. The balance of the facility is subject to conditions (in whose favour is not spelled out) but it is unlikely to be converted by Mint or drawn down by Hemo unless the company starts to perform a lot, lot better. At each conversion Hemo have said they do not intend to drawdown more. The initial £12m can/is doing enough damage at the mo.

Monday, Greg. Tuesday, Ian. Wednesday, Greg. Thursday, Ian. Friday, Greg. Saturday, Ian. That's the Gregorian calendar.