Member Info for Specialonek

Beevorma, it looks like the S**t has hit the Fan. Here she blows.

Baxters soup, I agree with Bigbangs, stop paying out. Ask for review from FCA. Ask them why they agreed to Amigo loans lending model before the company floated. Hamish Paton in his 6 months tenure destroyed share price as well as allowing FCA to undermine their lending criteria. He should have been doing everything he could to protect the business. He did the opposite. JB recognised the problem and got him out but dud not get anywhere with the BOD so frustration got the better of him and he has unintentionally affected the share price from Feb onwards. We needed him on the board but he walked away from it as he can no influence. That's my views based on when I was holding this from November until a few weeks ago when I sold out at 16p. I have over yesterday and today managed to get 3 times more shares than I had from the sale I made a few weeks ago.

If Mms are holding JB*s 10% of shares for a huge pay day then why are they letting us buy any at all? Why not just hold onto any shares that are sold but also hold the sell price down??

Bigbangs, that's a hell of a holding. Have you managed to average down to single price digit yet? It is crazy to think you can buy 1% of the company for say under £250,000.

Buys are picking up momentum building so is this the day of reckoning in terms of hitting ground zero at 5p? Slow and steady rise from here? Your thoughts?

Could NSF see Amigo as a good opportunity to join forces? NSF are in financial troubles but could JB/Amigo look at a merger option to stop it falling in to Provident hands? I am sure JB would love to stick two fingers up at Hamish Patton who has joined Provident. Maybe JB is selling shares to NSF with a shares option on table for him if it goes ahead. Anything is possible I guess. Clearly just a thought.

THGambler., my take is Amigo had a structure on its lending model versus claims which worked. Hamish Patton then came in and with influence of FCA changed Amigo loans stance on its affordability model and said to FCA come and take 95% of our money and at the same time continued to offer loans under the previous Amigo loans terms. Amigo just need to stand upto the FCA and state we are going back to the original criteria that you approved with us before Hamish Patton started with Amigo loans. I guess it is easier said than done. That I believe is what JB wanted to do when he came back to Amigo loans. Hamish Patton destroyed the business principles and JB destroyed the share price by bringing it all out into the public. Was it always Hamish Pattons intention to destroy Amigo loans and buy it up via Provident. Has it been a longterm plan between him and Provident. Conspiracy theory I guess but who knows.

Dnd, I think JB is basically saying how he saw it. Hamish Patton destroyed Amigo Loans due to his decisions whilst in charge of Amigo loans. JB does not hold back in taking down Hamish Patton.

I have bought in at 5.4p. Will see what happens over next 7days and decide whether to buy more.

My thought too since beginning of the year.

Invest share, reference "Special - the best post from you so far. At least you have come off the bashing wagaon. Good to see pal"
As I stated yesterday the news coming from JB was a game changer and up until he started explaining his position I thought this was a dead duck. He confirmed the buyer who bid 21p was still wanting his stake. I think JB would have took it private or sold at a higher price if he had got some control on the BOD. When he didn't I thought he wants out at all costs but he has reiterated he still sees strong value in this but he is tied in to selling 1% daily. I think 10p-12p will be a minimum now but again there is no guarantees. ATB. Still opportunity for LTH to average down and potential help move the SP up with it. DYOR. GLA

Itsagame, JB put all his eggs in one basket. He gambled and he lost. The instruction was irrevocable once he lost the vote. JB wanted to either get some control back or have a decent offer at what he saw as fair value (£1). He did not get either so was then tied in to the daily 1% sell off at substantial cost to himself as well as LTH and the BOD.

I didn’t agree to 21p when I was offered, because the correct price is 5x that, just based on a simple collect out.

I didn’t agree last week because I cannot change the way shares are being sold now. I referred them to the market, where our shares are being sold.

Again being very honest with his statements. JB knows this BOD has screwed him and us by not fighting FCA. Whoever buys this will need to fight FCA to survive and build this business back up. The BOD messed up. JB granted has not helped the share price with his open and honest views no doubt born out of frustration of his company being ran into the ground. Up until a few months ago I expected Amigo to sell at atleast £1 a share.

EA_L the issue is that money is being used to payback the so called dodgy loans fiasco.

I guess when sufficient PI's put buy orders in then then JB's share my start being sold at s higher price or if 2 or 3 parties start competing to buy up shares. The gradual slide may continue for a week or more or it may have already started the uptrend. Tomorrow should give everyone a strong indicator.

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Share Price:
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Ask:
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Spread: 0.14 (2.46%)Open: 6.20High: 6.30Low: 5.15Yest. Close: 5.78
AMGO Live PriceLast checked at 21:02:38

Richmond Group Limited Update
Fri, 5th Jun 2020 14:58

RNS Number : 1561P
Amigo Holdings PLC
05 June 2020





NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION



THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION



FOR IMMEDIATE RELEASE







5 June 2020





Amigo Holdings PLC

("Amigo" or the "Company")



Richmond Group Limited Update



Further to the recent statement made by James Benamor on social media on 4 June 2020, following clarification of Richmond Group Limited's ("Richmond") intentions, Amigo has been told by Richmond that:



(i) Richmond has placed all of its shares in Amigo with a broker, with irrevocable instructions to sell 1% of the company every trading day until Richmond's stake is reduced to zero, in the event that the current board remain in place after the upcoming general meeting on 17 June 2020 (the "General Meeting"); and



(ii) there are no circumstances in which those sell-instructions can be cancelled or amended by Richmond.



Richmond have noted that notwithstanding the irrevocable instruction to sell, Richmond is able to sell shares before the General Meeting, as the irrevocable sell instruction only applies to the shares Richmond still owns at the time of the vote.

He left the door open for someone to buy the Richmond Group shares before the vote. Clearly they did not get an offer they where happy with. The vote went against him and he has done exactly what he stated he would. He appears to have been genuine with his views and with his statements even at a huge financial cost to himself and LTH. This share price should hit the 10p-12p range at some point if the daily 1% buyer has remained the same and continues to buy all of his stake. There could be a daily rise if 2,3 4 companies start trying to buy up the daily 1%. The upside is going to grow daily on that basis.

I’m not selling, my broker is. I gave non-cancellable instructions before the shareholder vote. This is what 9/10 shareholders voted for. This is not the exit I wanted.
He has been very transparent. He wanted to fight FCA and the board didn't. Shareholders voted against him. He simply wants out now without any hassle.

This may well have hit its bottom. Tomorrow will be key but there is a more to be a positive about after JB set the record straight. He will drop below 50% from tomorrow evening so that could continue the marginal tick up today. My advice is if you are a LTH it's probably the time to average down as it is difficult to know how long this will stay below the 5-6p range GLA. It's less likely to drop significantly anymore IMHO.

I think he is prepared to lose the £30million or so in taking share price down so whoever buys this only has to offer 11p-12p as that will financially hurt all of the board especially Glen Crawford who has over 10 million shares. Other shareholders are collateral damage unfortunately. IMO

JB tweet earlier replying to an upset shareholder.

Look, I’m sure you mean well, but I just spent 6 months trying to help shareholders. I truly believe I could have got shareholders a collect out of over £500m net. I locked myself into selling in a last ditch attempt to help you all. Now I’ve lost almost £1Bn. I don’t need abuse.