Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I thought we were Told it wasn’tTP!!
Wonder how many buddy loan customers would snap up an offer to the same terms of our first SOA?
That doesn’t make it right I know, but does clearly show what could happen.
There will always be genuine customers that deserve redress and the few entitled that have bigger debts than the treasury, and still blame everyone than them selves! I hope for the genuine customers SoA2 find the correct balance and hope Amigo can continue to help many more genuine customers. I as a shareholder am willing to accept that I will have to loan (by means of a fund raise) amigo money with a view that I will hope fully get a return in years to come. Which would allow redress to satisfy creditors. - let’s get it done and give everyone some stability.
Yasawa, Yes that is one of of the options, but it’s not as straight forward as paying nothing to creditors. Amigo loans (company of amigo holdings) could’ve wound down. All monies owing to and by would be finalised and redress paid from the remaining if any. This would take time and the resulting situation could be better or worse for creditors. Amigo holdings in the mean time open a new Company and would have to start from scratch to get FCA approval. For new entity. - this is sort of How PFG got theirs by closing a section.
Yasawa, Yes that is one of of the options, but it’s not as straight forward as paying nothing to creditors. Amigo loans (company of amigo holdings) could’ve wound down. All monies owing to and by would be finalised and redress paid from the remaining if any. This would take time and the resulting situation could be better or worse for creditors. Amigo holdings in the mean time open a new Company and would have to start from scratch to get FCA approval. For new entity. - this is sort of How PFG got theirs by closing a section.
Having read the main parts, (on a phone) could someone point to where it says about director pay? I can only see the section which say’ about the highest paid director versus last year. And as Gary was new part way through the Financial year it’s not referring as a direct comparison to him year on year. - personally I’m happy that someone is incentivised to keep it running.
· lending recommences within the period, at the same levels as the scheme scenario, however, owing to the wind down of Amigo Loans Ltd, new lending is launched from new legal entities within the Group.
Wind down Amigo loans, with Amigo holdings to survive with a new arm of the business.
It’s very probably that all that is happening is a genuine appraisal of what will actually happen in the event of Admin. - as we have learn durning the last Court case the information supplied was based on assumption and lacked credibility hence the NO. How can any one actually make a decision without know the rough outcomes.
Would the FCA settle for 20p in the pound if Admin gave 40p in the pound, likewise would they push for 50p in the pound if admin gave 5p.
The FCA and Amigo need real figures to proceed. Non objection will only come when the picture is clear.
GLA DYOR
Like most, I too feel the SP is a joke, but can’t see how you can call for new leadership..
The whole sector is frowned apon, to much history knocking confidence, carillon, Interserve, BB, Kier and amey’s wows to name a few. Costain by comparison have steered the troubled waters quite well.
with unresolved disputes the city will be nervous.
Time and patience. And all will come good ( i hope)
GLA
The breach is not an automatic event of default and is remediable by the publication of the annual results, within a 30 day grace period after notification by the Trustee of the Notes or by holders of 25% of the principal amount of the outstanding Notes.
This Board doesn’t really set a good tone for PI’s looking to invest. All bit ching and moaning.
Cheer up peeps!
They have till 18.30 for the RNS, I was/am pretty relaxed about this after the placing. (Someone would have done due diligence). This is either delayed through incompetence, (which I hope not) or it’s delayed to protect the SP until tomorrow’s RNS. - historic bad news covered by the morning positive news. There is no point crashing the SP today to lift tomorrow. - or the other possibility is that the RNS will conflict an NDA and is being delayed by lawyers etc.
GLA
Any one know what the #4RG in GB’s tweets are referring too?
TP must have been running low on shares to sell.
@muggins. Having already read your posts with caution I have to say. Your credibility is growing.
Placing to purchase MSYS. Wooden dollars.
@jamesblonde,
The fact he came back from retirement and then tried to move the business on suggests he does want to do the right thing. He’s not an old man and would still have to mix in circles. A name is everything to some.