Member Info for Serendipidity

Seamus - exellent and sensible post, hope others

as for those who filter people with a different opinion - the very definition of trading stupidity IMHO

GCN - please do stick around and add to the debate, I value the opinions of anyone who currently holds shares, or has in the past and still watches far more than people who filter out others with a considered opinion just becuase its not ramping

excuse the typos

hi Paulanthony

what price are you after???
Not sure I follow, I am invested and think Amigo will do well, if they can get an agreement with the FCA and draw a line of some sort under the complaints. If that happens I can see 50p by Q3 next year

All these directors buying, I mean what are you suggesting the price could fall.
The idrectors purchases are a good sign but I dont regard £70k as meaningful, did they buy or where they gifted as part fo their remuneration package? The price will certainly fall if there is bad news ahead, but I think the worst is now behind us, and the price will hold steady and then rise, hence I am invested

I will take a gentleman’s bet with you this will be 13p plus by xmas
On another thread XEL estimated 20-25p by Christmas. I guessed 12p so not far off you. The SP makes early attempts every day to break 10p but fails, then nosedives at the close, I think it may creep up of general CV19 progress pulling all stocsk up, but not sure what significant news we will get before January that will see more than a 20% cllimb

A word of caution on the £159M, this is a provision based on assumptions, they got the assumptions wrong before as the claim levels went up and they had to add £85M to the pot. It is not a maximum as xel claims, it is a best guess based on observed claims to date, projected out to the number of people who could claim but haven't.

I hope its right, or even overly prudent but time wll tell, I certainly have more confidence in this BOD to figure it out, and prioritise the accuracy of the provision so there is less chance of nasty surprises.
See the RNS:
“The provision for complaints increased to £159.1m..... following a review of the volume assumptions within our forward-looking provision to reflect ongoing higher levels of complaints”

How do you filter please? Don’t see any green buttons (viewing on iPhone)

Need to filter Toine (is he a child?)

It’s a good question (the original one, not who is invested), and clearly it’s better to have an experienced CEO in the post who knows how to lead, communicate and negotiate. The genius scientist you want running the research not the company IMHO

So would winning the lottery, and similar odds :)

Wish all my cash was in EUA rather than just some of it, so I could buy back here at 9.8. Anyway down 1% was on par with FTSE and better than lots

thanks jonno

think UFO joined MSCI microcap miner, GGP was promoted to small cap miner, shares would have been accumuulated before today.

GGP share price has gone up on positive JV news, UFO has not had any news today

Sorry NOFEAR but genuine question - what is the point of enquiring the price on a huge (so quite illiquid) single trade, and what is the significance?

You could easily buy 2.5M shares in 100-200k tranches for around 10p-11p in a day

What platforms are you all using? Haven’t had any problems buying or selling last week or today (I day trade AMGO but always ensure I am long at end of day as I am LT positive on the share)

God this wait is getting boring though, just an indication of talks would be a relief

Sorry meant your posts on the “Divs and reduced risk” thread not hear which is a rather pointless calling out of someone who has a different opinion.

Good sensible posts Senator, this is a risk and it depends on your view of probability - drowned with complaints v get clear and re-lend and become very profitable.

I am about 35/65 right now as they didn’t announce an increase in the provision for Q3, but I would like a bit more transparency on complaints backlog.

Got out at 2.1 at a small loss, as I was waiting for the TEO and lost confidence, stay interested but reading this I am glad I got out when I did. GLA, could still come good

Why do people post these daft ramping predictions and lose any credibility?

A good Friday nevertheless and encouraging signs ahead

It’s a good idea but less profitable - I suspect a political move to placate the FCA somewhat.

Let’s face it, payday lending at 50% interest rates is not going to win any moral or regulator awards, so a more balanced business model makes sense to prevent FCA displeasure going forward

xel - thanks for the reply. I was on the call and not sure they said exactly that. See the RNS:

“The provision for complaints increased to £159.1m..... following a review of the volume assumptions within our forward-looking provision to reflect ongoing higher levels of complaints”

So complaints are coming in higher than expected, so they have had to change their assumptions for future claims.

This is the correct and prudent thing to do, but not exactly clever, and don’t expect a windfall because of it.