Yuri, JB tweet and not knew as that's from a few weeks ago. How do we not know that he has 61 friends who are all buying 1% a day directly from his broker. He could potentially then buy them back with a nice added bonus again through his broker. I am not sure whats legal and what's not. He has not lost out on any dividend as that was not paid and is unlikely to be until the company is profitable again and the future secured.
Sunsetter, pretty much any company could go bust. Only a few have gigantic cash piles such as Apple. We all gamble everyday in what we eat, hobbies, relationships, crossing the road, driving a car. They all have a risk attached. Anyone holding these Amigo shares knows it could go bust. They however have bought them in the belief that they will go up in value. Yuri no doubt believes they will go up in value otherwise he would sell them. I have a reasonable holding at a low average price and I am happy to see how this plays out. If I lose then onto the next one. It's a hobby for me.
Anyone invested in this share who trusts in what JB has had to say then please read back through his tweets. He wants changes to be made to protect the business viability and at present he can not influence them unless he goes for a vote. If changes start happening he may sit back and start buying back in. He clearly wants the prior agreement turn up going forward so he can have an input should he stay involved. I could see Glen calling him back onboard at under 10%.
JB will only go for a vote if he feels the relevant changes have not been made. He wants certain members ie Roger and Nayan off the BOD. He clearly wants a BOD who have the best interested of the company and it's shareholders. Below is a tweet from JB a few weeks ago.
Where we did sometimes disagree was on soft vs hard power.
Glen is more statesmanlike than I am. He’s a scalpel, I’m a chainsaw.
I’m watching developments to see whether a scalpel will do the job. If it will, we don’t need a vote, and I could buy back in without one.
RE: Glen Crawford, just for clarity12 Aug 2020 08:55
Jeff, they where settling claims due to the decisions of the BOD not fighting any of them. The company needs to fight atleast a high percentage of them to survive. JR may not be needed if some clear understanding and support is developed between Amigo and FCA/FOS. Glen in my belief is the missing piece as he will help resolve this and hopefully without the need for a JR and without a huge cost to Amigo.
Dear xxx , Yes, Glen started and Is fully engaged as a consultant until he is approved by the FCA as a CEO. Jonathan started as a INED, and waiting for FCA approval as a Chairman. The RNS’ clearly explained this. Hope this clarifies your question, Nayan
I personally thought this was a dead duck a few months ago. I need 10p a share to break even then all it great after that. I am sure other LTH are at a higher average. I wish everyone well who has invested. I can see this over a £1 a share within 18 months.
Interesting that despite Sunny loans being in administration they are still actively dealing with complaints quickly. Results from their website as follows which should potentially put Amigo in a strong position. If Amigo manage to uphold a similar and I would assume a lower percentage all will be fine.
Period covered in this report: 1 January 2020 – 30 June 2020 Brands/trading names covered: Sunny
Number of complaints Number of complaints opened 8221 Number of complaints closed 8358 Percentage closed within 3 days 0.42% Percentage closed after 3 days but within 8 weeks 99% Percentage upheld 13.83%
This could a easily, be anywhere from 40p to £1. The difference is around £220mullion but less than 10percent of the overall bid required to clear the debt. Anyone averaging under 40p will be fine but some LTH will not be best pleased.
The market has significantly changed IMHO. The exclusivity has reduced on films from cinema to home viewing. Covid could keep cinemas closed until November onwards even into next year. A lot of families will have now subscribed to Netflix/Amazon/Sky etc. The realisation of how expensive Cinema is to watching at home will have sunk in. Even when cinemas do open capacity will significantly reduce which in turn will make a lot of cinemas no longer viable. The world is changing and habits are changing. The need for cinema has significantly reduced and the same will apply with theatres unfortunately. This could easily go belly up or require a huge fund raise to keep it going in the short term very much like the airlines. This could easily be the next intu.