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...i would buy this company at the average of last 12 month traiding. Would cost me only 140m. I would add something agreeable to the Judge and say this or have a nice evening. Lots of big options going on. Sure AMGO played hard ball and learned, that there are others having harder balls. Love it.
I am not here to ramp anybody. I made a decision with 15,7m shares and i am comfortable stick with it. You might think why i am such an idiot that i did not sell at 29p and you might be right today. I am happy to be invested in this company.
@ Prolee....fair point. The reason i was quiet at 29p was to NOT influence anybody since i did not knoe and could not know any outcome. I now communicate, because i believe in this company. I even think it is much less risk as it was few month ago. You do whatever you need to do. If you are a wise man, you don’t blame me.
Sorry, this is it
https://youtu.be/2oq0YNo02KM
Here is my advice if you want to go from driving to boating. I lost the last days 3m paper money and i am not worried a bit. If you have no fear you will enjoy life at any moment. Sending out some love to all who got heart today. Enjoy the ride comming.
https://youtu.be/2oq0YNo02KM
After reading the judgement i come to the following concusion. Nothing fundamental changed in my view. Amigo has 200m cash sitting in the bank, which it does not need until 2024 and there are many great options to address the issues the judge mentioned in his judgement. I believe nobody want´s AMGO to fail. They just need to make fair adjustments.
Options:
- AMGO could buy 15% of the company shares for ALL SCHEME in the open market
- The BOD need to hire a law firm to represent creditors in the negotiation, chaired by the FOS (they voted already for the SOA)
- The bondholders should give a waiver until 2024 that more cash can be put in the pot.
- The shares of ALL SCHEME could be sold in 2024 and caped at 150m. The rest would go back to AMGO (Bondholders)
- The FCA should provide a letter of no objection.
I think these are all fair options and would involve creditors to participate in the shareprice . I am confident in AMGO, having 200m cash in the bank, 915.000 customers and hopefully serving a great post covid market.
1.) SOA got approved in first court hearing
2.) FCA wrote a letter that it would not oppose SOA in first court hearing
3.) SOA got passed with “landslide” 95% of votes
4.) FOS as a creditor voted for the SOA
5.) FCA is not a creditor (See practice statement point 10: https://www.judiciary.uk/wp-content/uploads/2020/06/Schemes-Practice-Statement-FINAL-25-6-20-1.pdf
6.) FCA did not show good reason why they did not oppose the SOA earlier
7.) FCA is not a creditor or represents an AHG (Ad-hoc group)
8.) FCA stated in second court hearing, that they will not negotiate for creditors
9.) The duty of the judge is to sanction the SOA if it is fair
10.) There are no better options or outcome is not predictable
There was only one SOA wich was not sanctioned according to this source: https://www.whitecase.com/publications/alert/schemes-and-restructuring-plans-challenging-times
So why do you think this SOA should not get sanctioned. All other alternatives would be far worse.