Can we look at the facts.25 May 2021 14:16
If you look at my history of posts I was quite heavy in this and believed in the future. If the FCA hadn't had got involved at the last minute I'm sure this would have sailed through and a re-lending announcement and we would be looking at a very different SP right now. For clarity, I sold at 23p two days before the court case, but I am still looking and researching to see if this is something that the Amigo Bod wants to revive. So I would say I am pretty impartial at this point.
From what I can gather, current directors and wives are heavily invested with their own cash. I believe that GJ bought three or four tranches of shares. I am trying to work out if Amigo were playing hardball with the courts saying that there was not an alternative option or if they truly believe there is not an alternative. I am not going to pretend I understand it fully, but from what I have read Amigo board is saying that with bondholders and creditors the numbers for a bigger percentage for redress simple do not add up. The judge however does not believe that Amigo will go insolvent and has asked them to look at a better and more favorable SOA.
So my simplistic questions if anyone wants to put forward their own thoughts are:
Why would the bod want Amigo to go insolvent?
Is there any advantage to Amigo shutting its doors?
Would anyone benefit from Amigo going insolvent?
Can the bod just start up a new company with the same team and start re-lending?
Can Amigo offer a better SOA and stay solvent and profitable?
How long is this process going to take, can Amigo afford to carry on operationally without lending, and for how long?
Will the share realistically be suspended again?
Are the FCA supportive of another arrangement?
What are the big shareholders doing? Buying or Selling?
I think if we can get some answers around these basic questions, then we can all make a decision on where we think this will ultimately end up.
Also, I want to say, there will be people that are in deep at 25p-30p plus and maybe some LTH £2.50+ (that have not averaged down or cannot afford to) and we should all be respectful of that. No one wants anyone to lose any money, the name of the game here is to make some cash, not lose it, and especially not to gloat in others' misfortune. I'm 80% down on RMS and heavily invested and it is not a nice feeling. So let's be nice people! We are all here for the same reason!
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