Member Info for xel123

Hillman1987 ,
Yeah agreed. But we seen how it went from 5p to 19p with in 2 days so the value is certainly there and we just need positive market sentiment on this.
What do you think about the numbers and calculations I have done ?

If the FCA tells Amigo to stop lending completely and wind down the company...
Cash as at now £136Mil and by end of this month will be about £150Mil
Lets say current compensation payments gone up by 300% which will be £105Mil (35*3)
We still got £45Mil (150-105) which is today's market cap.
Amigo's debt is around £450Million
Amigo's Loan book is around £650-700 Million
lets say we sell the loan book to with 20% discount . That's makes us £520-560Million
That's leave £70-110 Million (520/560 - 450)
So the total share holders value will be £120-160 (£50mil + 70/110)
This will gives us 3 times of the current share price which will be about 30P
All my own opinion and correct me if I'm wrong
All the best

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
"In the event that the current board remain in place after the upcoming general meeting on the 17th June 2020"
Now , New CEO will be in place soon . Some of the directors are leaving/left . So its looks like a new board.
Will this be a one of the circumstances that JB can cancel his sell orders ??

Main reason for this mess is that JB wants his preferred people in the board and in CEO position also remove the current regime.
Now some of the directors have left/leaving soon and he has his main Man GLEN back as CEO.
Therefore , JB may cancel his sell orders and start backing MIGO again !!!
Also since Glen is very familiar with FCA , he may get this sorted before October 2020.
Also Glen may go against all these compensation claims and take FCA & FOS to courts to negotiate better outcome for all of these claims.
No debt refinancing until 2022/2024.
No funding issue and cash pile growing up month by month (£136Mil as at 30/06/2020).
No proper competitor in this niche market at this moment.
So lets see in next couple of weeks where this share is going .
Good Luck ALL..

Perfect stage made for great leader !!!!
Glean is the person helped Amigo to secure Full FCA authorisation
"During his period as Chief Executive Officer of Amigo, Mr Crawford secured full FCA authorisation for the business and then led it through a period of significant growth, developed and optimised its funding structures"
Current board has arranged extra 3 months extension for Glenn to come and sort this out with FCA
More cash £136 Mil and growing every month
Not saying this is going to 15/20/25..50p
Just pure facts
ALL THE BEST

Chrisengland you said ,
"guarantormyloan.co.uk is 29% so why would folks pay 49.9%"
I'm sorry either you are deliberately lying or misquote this.
See below from "guarantormyloan.co.uk"
Get a Guarantor Loan
Borrow up to £10,000 over up to
5 years with a guarantor
*REPRESENTATIVE 48.9% APR (FIXED)
Representative Example £4,000 over 3 years, representative 48.9% APR fixed. Monthly payment £193.56. The interest is 17% per annum fixed and service fee is 23.48% per annum fixed. Interest payable £1,246.63 and service fee payable £1,721.53. Total repayable £6,968.16.

Chris,
You know there are lots of people out there cant even open a bank account due to their credit history but can make loan payment and has some income. AMIGO is cater for these clients.

FCA has conducted investigation and found some issues with the process. If the things are very bad with AMIGO , first thing FCA do is immediately tell AMIGO to stop lending money to new customers but they didn't ask AMIGO to stop lending so we can assume that the things are not that BAD. So as we all know FCA has asked AMIGO to changes to their affordability checks ..etc. SO THERE IS NO IMMEDAITE IMPACT ON CURRENT BUSINESS MODEL. In fact FCA has agreed to extend the period by another 3 more months means they must be happy with progress AMIGO made so far and help AMIGO to come clean soon. AGAIN BUSINESS AS NORMAL AS AMIGO STILL LEND AND FCA HAS NO ISSUE WITH IT.
Now, some people call this payday loan company. Is it really ?
Pay day loan companies charges up to 5000% .
Amigo charge only 49.99% and no other charges. In fact most of the credit card charge up 37.7% (including some of the high street banks) and overdrafts charges similar to this interest rate so DO YOU CALL AMIGO PAYDAY LOAN COMPANY ??
AMIGO has a loan book of 600-700Mil and generate around 15-20mil income every month.
Cash at the moment £136mil and growing every month
No bonds due until 2022/2024
Compensation at the moment is £35Mil and lets say this will double to £70Mil
So still cash around £66Mil - less than current market cap.
I'm not saying this will go to 15/20/25/30....or 50P but just FACTS
So if someone thinks this is going under , please come up with some reasons & facts.
Of Couse all these are my MHO.
Open for debate

I can sell 50k shares with HSBC with guaranteed price no issue - for 15.566p

Hesham,
What you don't understand is you cannot buy shares for 14-15p as the minute you started buying this , price will go up and up. This is what happened last day and half . As soon as the buying volume is up price will go up with that. We are talking about 100's of millions of shares. Last day and half traded only about 75-80Mil shares and see the share price today.
At what price you are buying this share ?

Many Thanks

Thanks Slift,
I missed that for some reason.

Why don't they issue a RNS confirming the start of the New CEO?.
RNS may help to take the share price up.
All the best

"If we hold Uganda 18 months "
We may go under due to higher debt or the company will takeover by the bond holders (IMO).
I'm happy to have some value and the save the company rather than going under.

Fair point,
According to your previous post , worst case scenario could be nasty if we don't sell Uganda.
What this deal means to the company and the share holders is to avoid this nasty situation.
Would you rather take little hit on our asset and wait bit longer to get fair value
Or
Get nasty and potential bankruptcy or equity for debt situation ??

Good morning CanaryW
You said
"What is the ramifications to the company if we don’t sell?"
It depends, worst case scenario could be nasty, best case scenario we would have to cut CapEx and/or find new finance but we would soon be recieving a better offer.
Please explain
"What is the ramifications to the company if we do sell?"
Many thanks
Good luck all

Thank you Yuri for your detailed explanation

Another takeover , JB needs to agree ?

Just bought
Jun 18 2020, 09:04
11.05
1,500,000
10.48
11.48
Buy
£165,750.00000
O

https://twitter.com/JamesBenamor/status/1273208134300033031?s=19

May come back now with the lower offer now !