Member Info for Rocket79

Agree this is going to rerate

These are incredibly cheap. Will be buying in on Monday

Will be hit very soon. Seller out and JB back in.

Glen not agreeing with the board goes in JB favour. Glen was going to leave if JB won apparently. I can see Glen siding with JB before the vote so had to step down before the vote.

Agree by this time next week. I'm holding for 100p a share and dividend though

Buying is relentless today. Smart investors loading up as this is ridiculously cheap.

20p end of next week imo

Takeover back on the card imo. This is a win win if JB wins sp will rise if he loses sp will also rise as more stability and this is ridiculously undervalued.

Someone buying up all the shares at 12p. This is going to get very interesting

You can just call and tell them resolutions for and against

Level 2 looking very strong. 1mil buy at 12.4. Directors, insiders buying up shares ahead of vote imo

Seller will be cleared today this is going to rerate. JB back and 20p minimum sp in 4 weeks imo

For those holding past 20p this will be an excellent investment as JB expects the share price to be a lot higher.

just called broker and have voted as follows

Please vote
AGAINST resolution 3 at the Amigo plc AGM to be held on 29/09/20
AGAINST resolution 7 at the Amigo plc AGM to be held on 29/09/20

All other resolutions I have voted For. There are 17 resolutions in total

Took 5 minutes

Consortium who offered above 20p will be back on as JB was the main reason it did not go ahead last time. Watch this space takeover offer coming above 20p imo

these will shoot past 20p once JB has sold down. Nothing will be holding the shareprice back. Whats the chances the consortium return with another takeover offer above 20p. I think very likely. Exciting couple of weeks here. At this price it's a no brainer imo

Broker Shore Capital noted that the balance sheet “remains in good shape with capital headroom having materially increased since the start of the year, while the funding and liquidity position also remains strong”. 

Analysts noted that as a result of introducing more cautious economic assumptions into its IFRS 9 models, forward-looking impairments increased sharply resulting in an improvement in the overall coverage ratio for the group to 33.5% at the end of June 2020 from 28.3% at the end of December, saying “such coverage levels are significantly higher than found at mainstream lenders”.

With the shares have fallen by 57% in the year-to-date, versus a 20% fall in the FTSE All-Share Index, Shore Cap said they were trading at less than tangible net asset value, around four times forward earnings and a dividend yield of almost 13%, “despite the strength of the balance sheet and the scope for returns to increase to 20-25% over the medium-term”. 

“We believe there remain significant opportunities for a well-funded and well-capitalised non-standard lender to grow in the aftermath of the Covid-crisis given a likely increase in the number of available customers along with a reduction in competition.”

The results, agreed broker Peel Hunt, were “generally positive, showing that the business is proving resilient and trading better than internal plans”.

Good news for provident as a large part of its business is issuing car finance.

From the FT
Car finance applications in the UK grew by a quarter during July and the first three weeks of August, as pent-up demand for vehicles spilled into the traditionally quieter summer months.

No chance results for Q3 in November will be strong again and i think they will restart the dividend then also. I do agree that this we will have up and down periods on the way up 500p by Novemebr imo.

Boooom 250 resistance broken nothing holding back the share price now. This will quickly move above 300p.