Amigo Share Discussion Threads

[samsung2020] 08/10/2020 08:41

Morning mate, it's been published on twitter this morning...

[kirk 6] 08/10/2020 08:29

Samsung that's great news. Is that from an email though ?

[samsung2020] 08/10/2020 08:18

Sourced from twitter, letter someone has sent to BODDear Sirs,I am a investor with a sizeable shareholding in Amigo and I have been dismayed to see the Share Price free fall over the last few days. It is becoming extremely difficult to sit and watch the share price get mauled on a daily basis whilst the company appears somewhat paralysed to do anything positive to counteract this situation.I understand there have been some boardroom distractions of recent which have played out in the media, whilst I appreciate this has not been helpful all of this should now be firmly behind the company. I would be grateful if you could provide answers to the following questions to help me understand the current status.During the AGM you mentioned lending would start at the end of the year can you be more precise on when that date will be and whether it will be in time for the all-important Christmas period?In the midst of the James Benamor voting saga, the board of Amigo was very vociferous that if Mr Benamor was voted into the company it would be detrimental to the business. From viewing the recent share price history as soon as Mr Benamor lost the vote the share price imploded, making it difficult to believe that Mr Benamor wouldn't have offered short term stability to the share price and longer term benefits to the company, therefore:Now that you have succeeded from preventing Mr Benamor's return could you please describe why your leadership team is best qualified to turn this business around?Could you also please elaborate further on what your leadership is planning to do to restore confidence in the share price?Can you explain why, when during a period of share decline you have actively released a number of your senior leadership team from their share lock ups? You must have known this would have a negative effect on the share price adding further pressure on an already depleted share price As a shareholder I would really appreciate if your leadership team could be more engaging with the shareholders. At the moment there is a deafening silence coming from the management of this company and often most of Mr Benamor's social media claims are left unanswered, which given the current climate suggest that he may actually have some merit.Finally could you also provide my fellow shareholders with an update on the VREQ claims handling process. You may have noticed but this has also been the subject of Mr Benamor's commentary on twitter and it is something you have been very vague and evasive in providing useful information.I appreciate your team may be extremely busy, most likely consumed with handling a response to the COVID situation and of course turning around the business. However I would greatly appreciate a response to the email I sent or this open letter and going forward I would also request that you consider creating a forum where you can keep the shareholders (and indeed your concerned employees) updated of any progress you are making. You may view my questions as somewhat trivial but I can assure you there are many other shareholders scratching their heads with the same questions and other queries more complex than I have asked.

[samsung2020] 08/10/2020 08:17

Sourced from twitter, letter someone has sent to BODDear Sirs,I am a investor with a sizeable shareholding in Amigo and I have been dismayed to see the Share Price free fall over the last few days. It is becoming extremely difficult to sit and watch the share price get mauled on a daily basis whilst the company appears somewhat paralysed to do anything positive to counteract this situation.I understand there have been some boardroom distractions of recent which have played out in the media, whilst I appreciate this has not been helpful all of this should now be firmly behind the company. I would be grateful if you could provide answers to the following questions to help me understand the current status.During the AGM you mentioned lending would start at the end of the year can you be more precise on when that date will be and whether it will be in time for the all-important Christmas period?In the midst of the James Benamor voting saga, the board of Amigo was very vociferous that if Mr Benamor was voted into the company it would be detrimental to the business. From viewing the recent share price history as soon as Mr Benamor lost the vote the share price imploded, making it difficult to believe that Mr Benamor wouldn't have offered short term stability to the share price and longer term benefits to the company, therefore:Now that you have succeeded from preventing Mr Benamor's return could you please describe why your leadership team is best qualified to turn this business around?Could you also please elaborate further on what your leadership is planning to do to restore confidence in the share price?Can you explain why, when during a period of share decline you have actively released a number of your senior leadership team from their share lock ups? You must have known this would have a negative effect on the share price adding further pressure on an already depleted share price As a shareholder I would really appreciate if your leadership team could be more engaging with the shareholders. At the moment there is a deafening silence coming from the management of this company and often most of Mr Benamor's social media claims are left unanswered, which given the current climate suggest that he may actually have some merit.Finally could you also provide my fellow shareholders with an update on the VREQ claims handling process. You may have noticed but this has also been the subject of Mr Benamor's commentary on twitter and it is something you have been very vague and evasive in providing useful information.I appreciate your team may be extremely busy, most likely consumed with handling a response to the COVID situation and of course turning around the business. However I would greatly appreciate a response to the email I sent or this open letter and going forward I would also request that you consider creating a forum where you can keep the shareholders (and indeed your concerned employees) updated of any progress you are making. You may view my questions as somewhat trivial but I can assure you there are many other shareholders scratching their heads with the same questions and other queries more complex than I have asked.

[tommygriff] 08/10/2020 08:03

Is the share price decline due Glen Crawford flogging all his shares?

[cyberbub] 08/10/2020 08:03

Those stays sound very encouraging indeed Samsung!

[justtrying1] 08/10/2020 07:56

Back to 5p first

[amaretto1] 08/10/2020 07:47

This will become a absolute gold mine sector ... in the coming months !!All backed up by Guarantors ..2 bites of the cherry to pay ....What's not to love here.

[nhs buyer] 08/10/2020 07:41

I appreciate the CEO has only been in the role for 1 week so to some extent I want to keep the pressure up.

History tells us that some elements of the old BOD have kept a controlling factor on the business.

Possibly one of the reasons GC walked.

I don't want the new CEO to go that way.

In fact I'd like to see him take a few scalps once he is approved.

I appreciate some of the re-lending issue is not the fault of the business and in part down to COVID but if they have optimised their criteria then I see no reason why they cannot widen the scope beyond key workers.

It is true the pool of eligible people may be narrower but I don't think this business needs to "smash it" over the next few months.

They have decent cash reserves and if they can reduce the loan book churn with some new clients that may be enough to weather the covid storm without seeking additional funding, which would put the business on a very good footing once COVID blows over.

Without a shadow of doubt the mainstream lenders are going to rule a huge swath of the country as sub prime because of COVID.

Therefore if Amigo can weather they will be fine.

I fully understand this is a long term play and my impatience on the BOD is due to

1. Their lack of engagement, they did much more pre JB vote when they wanted to see him off
2. Questioning their actions on the lock up release.

[trad3m3] 08/10/2020 00:08

If solid RNS lands there, with that many praying eyes it'll go 100-200% on a day... it all depends on the news

[samsung2020] 07/10/2020 23:10

#AMGO Ombudsman findingsInteresting to note that of the 122 complaints listed, 22 were upheld and 96 were dismissed. https://t.co/ldHTO5Gf88Sorry not to familiar to copying from Tweeter page link....

[samsung2020] 07/10/2020 22:51

Interesting if true...-

[samsung2020] 07/10/2020 22:51

Interesting if true...-

[trad3m3] 07/10/2020 22:06

Amgo I commented there

[trad3m3] 07/10/2020 22:03

CTEA post #7375

[trad3m3] 07/10/2020 21:59

I prefer not to say anything until rns lands...