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It did feel like he wasn’t trying to win (without going all conspiracy theory) maybe he wasn’t, that seems more logical than the level of incompetence and lack of understanding of the dire situation. Maybe the FCA needed their WIN let’s just hope that was ‘the win’ as anything further they are going to be the ONLY ones with any sort of win out of the deserving. Although others will profit no matter the outcome just not the people that should.
I think it truly was a genuine **** up. Think Dicker waited too much on the legality of it passing and thought that was enough and didn’t demonstrate when asked anything of note about the financials, it would have been so easy to clear up within a minute or twos words. It is what is is, I can only hope they have learned ready for SOA 2.0. I do however feel FCA will need to give a letter of non objection pretty quickly which will ironically then just need Dicker to worry about the legality of it again only.
Jimmy I know I was being slightly provocative Senator is correct though and I feel you would have a better more useful perspective by looking into and understanding what he is saying. If the goal is to achieve more for all and the best outcome then be careful playing devils advocate too much. SOA 2.0 is the only route, You are half right in your views but don’t see the picture clearly. Your enthusiasm is commendable though. GLA
You seem comfortable in the mindset of backdating things for the view of fairness, so, where are you marking the 10% equivalent of share price from as a haircut to make it equal, IPO? Or all time high to make sure it’s definitely fair for all who could have bought so maybe £3? Sounds fair to me before anyone was aware of the issues or goal posts were moved. So let’s say 30p in that case how do we arrive at that in reality to be fair? Oh shocker we were already there with the current arrangement. SOA 2.0 will be here soon you might as well wait to see what that is and save your energy for beating your drum then. You seem overly frustrated about the reality of the situation, people are on this day in day out to make it right and it will be IMO
Absolutely correct, the judge has given the answers as to the solution and how he may pass it with SOA 2.0. This will come shortly. GLA
I kinda get your approach and in part you are right, you are however not looking at the whole picture correctly and therefore if someone had a magic wand to give you your perceived fair outcome, the reality of what you wish for would shock and disappoint you. A fair and balanced approach will be achieved I’m very confident of that and all will be supported and satisfied.
Your narrative has shifted, I feel you have let your overwhelming desire to ‘cause pain’ to the company take over your goal and be objective and helpful to the masses (the way that I saw it when reading you) to get the best and most fair outcome for all, not leave a larger group of people suffering with nothing (I include all past customers who have settled their loans and current shareholders who have seen their investments fall vastly) although there are exceptions and some traders have done extremely well there are also people who aren’t as savvy and have held through this whole saga. From all I have read from you I’d be surprised if you truly felt that if just a small number of people with current loans received more while a huge number suffered in pain with nothing as they had paid off their loans, that you’d have missed your target and lost your way and sight though an overwhelming desire to see suffering and mini victory at any cost to the masses and majority. GLA
I’m a little surprised by your change of stance Jimmy, confused how you now think if just a few ‘front of the queue’ were better off while the rest suffer with nothing, that was better than a solution for all, I’m very confident a fair and balanced outcome will prevail and all will be happy and supported. GLA
As the judge pointed out putting together and passing a SOA 2.0 shouldn’t take more than a few months, so either way they don’t have long to wait, it’s still going to be the quickest and best route for all.
That is the whole point of the SOA to find a way to pay claimants equally and not first come first served. It will remain on hold (as it should) until an agreeable plan is made and passed. I feel SOA 2.0 should satisfy all and get claimants on the road to receiving their money and Amigo 2.0 to serving the ever expanding market. I’m still looking forward to finding out what exciting products are going to ‘blow the market away’
Yeah I did see the shorter a few weeks back, as far as I can see not a concern now though. Hopefully we are kept in the loop a little and the days and weeks don’t feel too long. One think is for sure the next stage of the journey isn’t too far away (on reflection feel they are better placed now than ever to satisfy everyone whilst being fair and balanced and get done what needs to be done, get across the line and move on to a more successful part of building)
GLA
What is the general feeling on the timing of the next bit of news? I am hopeful for some sort of SOA 2.0 announcement this week, any thoughts?
Think all would have gone swimmingly but Hamish and pru as well as other companies tried to exploit as an easy way out so foot had to be put down.
You out Vinson?
I agree with that! I think the narrative and position of the press has done a 180 against the FCA in the past week!
Strongly agree Mark that would have been the correct route and thought the FCA would have preferred the current trajectory to a JR, it seems however the FCA have forgotten that somewhere along the journey, go figure.
IMO the quicker they come up with an agreed person to act on behalf of SOA creditors the better. As we are all aware the FCA don’t negotiate but they do want the creditors supported to negotiate the best deal. Well it’s very difficult to negotiate with yourself so in my view that mechanism needs to be agreed by the company and the scheme creditors pronto then can come to an agreement, get a letter of non obligation from FCA and get it done. With regards to SP in my view it won’t dip below 0.055 unless all hope is lost. I’m still of the view all will be good in time and not long left on that timeline GLA
So Franky do you think this is all show? (I’d be shocked if the relationship GJ had with the FCA as well as the board member they have that used to work there) didn’t have a narrative and plan outside of court. The only logical situation I can imagine is this was pre planned to stop other companies hopping on the easy route wagon. If that’s not what’s going on we are in trouble I think.
Thanks Franky, I think a lot of what you’ve replied with is based on a lot of hope and good faith. However I was given the impression the ‘special relationship’ GJ had with the FCA would have added to some benefit of discussions prior to having our pants pulled down in court. I’m now of the impression they don’t care if you or I or any other Jim Bob still owns shares as long as the company survives and the FCA get their headline of victorious which may mean we all get zero, the people with largest voting rites agree and we are wiped out. If it’s not that it’s just setting a prerequisite to other companies going after an SOA and stopping them in their tracks (which would make sense it was coordinated) if it isn’t we are being played surely?
Something that resounds in my head from the court case was the FCA suggesting that shareholders switch places with the claimants or join the scheme and be treated equally with claimants, to which from my recollection the judge agreed that could happen and then start with new shareholders. One thing this past year has provided is the opportunity for JB to sell out (whilst keeping interest and share prices up with his 20p buyback ‘offer’) all the tactical director share purchases to keep interest. Then magically the lockup agreements got released for GC and co to sell out and most recently debtors have been paid back whilst pausing redress and the interest in the stock has been kept with the ‘hope’ of the SOA while II’s get their money out. So there are a lot of alarms going off that the past 12months have been letting everyone very cleverly off the ride whilst delaying the inevitable. I want someone to rebuttal this and give me their view as I like the company just have a bad gut feeling that we are getting lead up a path.. thoughts?