Member Info for StanleyPro

19-1 would be scrapped, the SP would shoot up after court which would enable AMGO to make a sensible raise.

6p before court? :)

the chart pattern doesn't look very promising, Jeff. After a positive open today the stock plummeted by more than 20p and since December we fail to top the previous maxima. I do believe the broker targets of 580~600 are too optimistic and on this board most posters bashing HBR consider 270 a great bargain. The reality is probably somewhere in between ~430p, maybe we'll get there if Tolmount comes on in Q1.

when dow's on a rally, LSX is closed. :D

Against. Gary has to realise that he can't shaft the shareholders in this manner. There's more to this though. The only reason the SP is currently @2p and not 0p is a slight hope that 1:19 dilution won't be voted for! Otherwise they face insolvency after RI!
1) BoD can't make it expensive because nobody would take up the rights and you won't be able to sell your rights into the market simply because there would be no buyer.
2) If they make it cheap, the SP will drop instantly to the RI price, most probably causing the same issues as in 1). There would be no value for shareholders left. Amigo shares would be cheaper than the cheapest wallpapers... PIs would be saving what they can at 1/2 or 1/4, or possibly 1/100s... of the RI value to get at least something out.

SK missed the train, wanting 300 entry and now has to wait on the sideline for another cycle

Rosie, what's your point? I would prefer a clean shave over a 95% haircut. I believe most shareholders will follow suit but let them get through the hurdles first. I hope the performance would be worth the remaining 5%.

The RNS has been discussed here and most came to the same conclusion that Amigo PLC has to show that there are no benefits to the shareholders ahead of the creditors. A minimum of 19:1 is not set in stone and subject to market situation in the future.
Volume bought: 11m
Volume sold: 4.5m

The current SP is a joke. March 2020 territory.

@calamari where is it written that 95% dilution is FCA requirement? What document are you referring to?

I don't agree with you, @Craig. First comes the court and permission from FCA to kick-start the business and only then comes the shareholder vote. Given the first two events are successful the shareholders can easily vote against the 19:1 equity and Amigo would have to put forward a reasonable proposal based on the X amount they need to raise! However, in my view before the court they have to show that shareholders are not getting any benefits out of this situation.

@summers I like your approach. Usually when everyone's selling you should be buying. Best of luck to make few 100s% before the court!

Rahul Dhir keeps saying that it's easy to get carried away in oil business and that he prefers to stay on the conservative side for resilience and long term strategy. This is part of the reason why some are unhappy about exploration and oil production numbers... but at least we won't see $1bn exploration write offs (2020).

@Biglippy if it was their SOA strategy than the RNS where Amigo decide to change the RI conditions is more realistic than you think

270p :D

and a better proposal: overturn 1:19 crap. The new conditions are 1:2 RI after the SOA gets approved. The old shares would've been 40~50p easily so your existing ones would be priced at 25p+ after dilution and with a healthy raised capital which would be greater than with the current scheme.

@freekick In short, I would like to know:
1) About the absolute necessity of 19:1 RI proposed in the new scheme. I suppose it's not coming from the FCA? Why is there "at least 19:1" wording in the rns and whose decision was that?
2) What amount Amigo plc is planning to raise via the proposed RI?
3) Can EGM be called to clarify the steps of the new SOA? (If they respond something along the lines that it's not required) then the shareholders must stress that the lack of information has led to the stock price collapsing to 1/3 of Friday closing price in just 2 trading sessions. If this continues at the current rate Amigo plc will face insolvency even if the new SOA is given the green light.

@InsiderKnowledge for the last 3-4 month they've been struggling with liquidity, the SP was stagnant @6p. Now they're planning to increase the amount of free floating shares by a factor of 20, roughly. Haha Why do they think that shareholders would be prepared to save Amigo at all costs (with A LOT of additional funds) when they don't give a toss about their shareholders!

@2.00p, another massive drop. Need 75% rise to get to yesterdays closing price.

"I sold as well .. "
funny thing is, the RI could be far away and the no. of shares is still the same. I won't be surprised to see AMGO above 6p again before mid February.