Share Name Share Symbol Market Type Share ISIN Share Description
Amigo Holdings Plc LSE:AMGO London Ordinary Share GB00BFFK8T45 ORD 0.25P
  Price Change % Change Share Price Shares Traded Last Trade
  0.145 1.78% 8.30 7,326,350 15:23:43
Bid Price Offer Price High Price Low Price Open Price
7.905 8.46 8.50 8.00 8.015
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Nonequity Investment Instruments 294.20 -37.90 -5.70 39
Last Trade Time Trade Type Trade Size Trade Price Currency
16:19:57 O 5,779 8.4545 GBX

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Amigo Daily Update: Amigo Holdings Plc is listed in the Nonequity Investment Instruments sector of the London Stock Exchange with ticker AMGO. The last closing price for Amigo was 8.16p.
Amigo Holdings Plc has a 4 week average price of 6.75p and a 12 week average price of 6.75p.
The 1 year high share price is 30.30p while the 1 year low share price is currently 5p.
There are currently 475,333,760 shares in issue and the average daily traded volume is 8,416,293 shares. The market capitalisation of Amigo Holdings Plc is £39,452,702.08.
leoneobull: We need Samsung back to improve the BB quality...I'm still holding, but at a more limited scale...I'm sure the share price could rally if SoA 2 looks like a good scheme for all. I doubt they will go for equity wipeout, it will be some kind of dilution potentially, but that could rerate us if it gets amgo SOA and amgo 2.0 over the line....
leoneobull: A good article telling it how it is. They have called Amgo's bluff and I would be surprised if a better deal cannot be put forward quickly with the FCA's approval, as if the FCA play stubborn on SoA2 and refuse to approve, redress creditors, like shareholders will get precious little. IT is called UNSECURED.. past couple of days, seen a lot of hatred towards Amgo, putting it on a par with pay day loans. Wonga charged 1500 to 2000 per cent for very short term loans, Provident 350 to 1000% for some short term loans, and Amgo 49.9%. Credit cards are around 39%. I've said repeatedly the interest rate is way too high due to regulatory and political risk...the Woolardreview pointed to the need for midcost subprime lenders, so even the FCA recognises the likes of Amgo is needed for the financially excluded
senator: It is clear from the Judge's comments that there needs to be a fairer alternative offered to Creditors and not simply the binary offer previously offered. While I do not think that it necessarily needs FCA sanction, it needs to be fair. AMGO did a lot right in their comms to Creditors. However there are 2 compelling issues that the Judge had: 1, He was not satisfied that the binary option on the table with no alternative represented a fair assessment of AMGOs situation or that Creditors knew enough about how distressed Companies deal with these situations. 2. He was not convinced that the offer to Creditors was fair when assessed against what Shareholders would ultimately receive(where would the share price be if the SoA had been approved...50p/60p...maybe more). Convincing the Judge that Creditors get a fair deal with all of the facts explained to them is the answer. However you slice the cake, the Shareholders slice is going to be much smaller than AGMO offered - assuming that the cake survives the bake!!
leoneobull: Sounds risky, a poster from LSE on possible outcomes...1. SOA acceptedVery possible. If it's decided it was lawful. The vote was almost unanimous.2. SOA accepted, but with different figures, already agreedAlso very possible - Judge can make amendments I believe as they see fit.3. Neither accepted or rejected - go away and come up with something agreeable to both AMGO and the FCAUnlikely. FCA have shown no interest in getting involved in details of the SOA. They could have done this months ago and didn't. Judge knows this.4. Rejected - go away and come up with a share issue or a debt for equity schemeIf the scheme was considered lawful (and it should have been with Freshfields advising) this is unlikely. If it is rejected share price will crash. What would we raise at? 1p? Because that's where the share price would likely be. Wouldn't make much money would it and £15m more wasted on another SoA vote that could have gone for redress. Administration may happen before a new scheme is approved anyway. Everybody loses, including creditors.5. Total rejection - same as above.FCA QC made a lot of noise and made shareholders uncomfortable but was essentially trying to deflect the spotlight away from FCA inadequacy in dealing with CMC's and engagement with companies. Some say the FCA is a regulator and doesn't need to advise. Well, that's just utter nonsense and being difficult for the sake of it. How much more efficient would things be if the FCA actually showed some level of guidance. They don't because they don't want to be blamed for anything. Just want to be able to blame companies and take them down instead to save themselves.
leoneobull: My theory is that the FCA are annoyed with Amgo for various reasons....They stopped paying redress without too much warning (SoA was known , but not that they would halt redress) in JanuaryThe LTIP ....millions in rewards for management at 40p...would have been better to set this AFTER the SoA was approved and company saved. A great mistake as FCA won't want headlines like management get wealthy whilst those owed a redress take a cutLack of detail to support the bust or SoA alternative Precedent..the AMGO SoA could become a template for already has with ProvidentThe FCA still behaved appallingly:Market manipulation stating they would not oppose the SoA, then opposing it, pumping the share price in the process, and then complaining the share price has gone upFailing to turn up before and intervening last minuteI hope that the judge will realise insolvency is very real as a threat and that Amgo 2.0 will increase the payment to creditors...compared with their unsecured statusB
leoneobull: From LSE.Posted this in our discord group but my view of todays pro's and con's, feel free to add;Pro's:- Judge knows the FCA had ample opportunity to oppose this before now, they had no defence for the delay- FCA worked with Amigo on the wording of the scheme documentation and did not oppose before 10th May- Turnout is not an issue in relation to claims presented- Debunked theory on share price growth when presented with bigger picture in relation to share price since IPO- Judge knows it is not possible to present a menu of options when proposing an SOA, this is the option and this is the one that has been voted on- FCA have made no attempt to draw a line in the land at what would be classed as a fair scheme, Amigo cannot work with this approach- Rights issue is not possible with current business outlook and uncertainty- 95% of creditors voted in favour of the scheme and typically understood that the average creditor could understand the implications- FOS have voted in favour of the scheme as a creditor due circa £12mCon's:- Insolvency stance looks ropey at best, FCA have blown holes in this being a short-term reality and there are questions around the absence of cash-flow forecast- If insolvency is not a reality then the basis for SOA voting would no longer be applicable- FCA QC came across well rounded, knew his stuff and wasn't asking for the world- Judge seems to support the option of debt for equity when it was explored by FCA, potential dilution could occur to get this across the line
ck1632: I think too many people are worrying about the scheme failing in court. We have a District Judge in our family who explained this to me and it might help others evaluate the risk. The bottom line is the scheme is expected to be approved. The FCA can’t oppose the scheme in it’s entirety, they had an opportunity to do that first time around and chose not to, but their concerns were noted. The only real objection they can make is around fairness and suitability which will be the main points of the hearing. The judge must be satisfied that the scheme is suitable and fair for all parties which includes shareholders, bondholders and creditors. The scheme when first brought to the court laid out the terms for all this and was all accepted and given permission to move to a vote. There were questions about the weighting of the vote and how it would be calculated, but the Judge agreed that the calculation ‘seemed fair and logical’. I am sure this is where the FCA will focus their attention and state the weighting on votes is not fair or is not an accurate reflection of the customers opinion. Assuming Amigo have followed the terms of their own scheme and have notified all customers wherever possible and given all customers equal opportunity to vote (this is key, there can be no bias, all customers have must have had an opportunity to vote) then this is not really an objection. Even if you want to run the votes through another weighting system for arguments sake, given the percentage in favour of the scheme I am not sure you’d ever get any other outcome other than a yes. Another issue likely to be raised will be the low number of voters, but again so long as Amigo have followed the terms of the scheme and can provide evidence they contacted all customers wherever reasonably possible then this is also not an issue. The question to be asked would be ‘if say 35% of customers voted, how would the outcome change?’ Given the 95% approval rate I would say no change to the outcome. Another challenge will be the fairness of customers getting capped pay-outs whilst shareholders, particularly the directors, are standing to make significant amounts of money on a rising share price. This one is tricky because the handling of this comes down to how the judge sees this. This though will not be enough to reject the scheme, only to change the way in which compensation is paid, calculated etc. However I am sure Amigo will be quick to note a rising share price is due to good business, good business equals more profit, more profit equals a bigger compensation pot for future pay-outs. It will almost be impossible for a judge to rule against the customers majority vote, the only real way this will happen is if the voting has been manipulated, falsified or there are serious concerns in the calculation method, which is not an impossibility but incredibly unlikely. You also have to remember the court already assessed the scenario of the scheme vs administration and agreed the scheme to be the best way forward at the first hearing. Obviously make your own minds up but I reckon you will kick yourselves if you’re not in this next week.
leoneobull: Isa investor lse bb postMorning!Today 06:50Ok, feeling generally less negative this morning - LOL! However, I would urge everyone to go and seek out the court records for the first hearing, else you're solely relying on my memory, which ain't what it used to be! My recollection is that there isn't a way to challenge the fact that only a small % have voted. The first hearing was surprisingly 'simple' and very clear in its remit - the question of whether AMGO had done enough to communicate the scheme to the creditors was questioned and 'accepted'. The fact that so few appear to have responded may be brought up but I'd expect nothing to come of it. That's still a lot of people who think they have a valid claim and the judge already said he felt they'd done all they could to contact people. The tweaks that were necessary and agreed were really around explaining the scheme for those who may struggle to understand. That was all completed. It really was an exercise in checking the wording was of a level everyone could understand and that it was sent to everyone - the judge said that was all fine and AMGO had done what they could. The 2nd hearing is to test "fairness" . And this is where it's worth revisiting yourselves and not placing all your stock (literally) on my memory; I do think the issue of the size of contributions going forward can/will be challenged. Why are the FCA doing so now? Because now is the right time. They wanted the vote to pass. Now the vote has passed and an SOA is the will of the creditors, now it's actually easier to negotiate. A few quid here or there wouldn't have affected much if the vote was close/had gone the other way. The FCA can't 'lose' now. If the creditors voted for getting roughly 10% back, this week, the FCA can't 'lose them' money, even getting them what looks like 11% back is a win and them "making the difference" and "doing their job" . So, on the positive side; I'm very much in the "it's going through" camp. For balance, from what I heard and the impression I came away with after the last hearing; pot figures are very much up for challenge. The FCA have done a lot wrong here but I really don't think the timing of this challenge is wrong at all and I don't see the judge is going to throw anything out or ignore the will of the regulatory body. That does not, of course, mean he won't accept AMGO have done what they can already. But I suspect very much the numbers can and will be 'tweaked' to give everyone (AMGO - survival, Creditors - more money, FCA - a 'win' by being seen to have acted) what they need, based on the number of voters and now known potential max claim size. Those figures are likely being reworked (or have been) already and will be 'negotiated' in the comms with the FCA to make sure all goes smoothly for all parties next week. Very rare you find yourself in a situation where everyone can win. And in case that's too positive... this is why I think it was looking a bit pricey and why some IIs may look again at their risk calcs. It won't be wort
heatseek77: Another yahoo finance classic...😂😂 Tbh Alan the journalist sounds like he's on to make 2%on his money this year.. The Amigo share price just fell 35%. Here’s what I’d do now Alan Oscroft Tue, 11 May 2021, 10:13 am·3-min read Sub-prime lender Amigo Holdings (LSE: AMGO) has had a cracking run so far in 2021, more than trebling in value since the start of the year. But we saw a sharp decline Tuesday morning, with the Amigo share price down 39%, at the time of writing. Before I look at the news behind the share price dip, we need some background. Though Amigo shares are flying in 2021, the bigger picture is far less rosy. Since the company floated in 2018, it’s shares have lost 90% of their value. So what we’re looking at in 2021 is a recovery situation, and it’s not actually a big one yet. But what caused the crash in the first place? Sub-prime lending is a risky business at the best of times. And a deadly virus pandemic, and economic slump, and a stock market crash really didn’t help. On top of these general woes, Amigo has been facing large numbers of mis-selling claims. The Financial Conduct Authority (FCA) has investigated Amigo’s lending practices, plus the way it’s managed the flood of complaints. And decisions have been coming down in favour of customers. It’s really no surprise the Amigo share price has been suffering. Scroll to continue with contentAd WEOY-RoadtoWEOY-EN-UK_Static_1x1_NA Amigo’s rescue plan To get out of the mess, Amigo has been working towards a scheme of arrangement, which would cap its potential compensation payments. It looked like the planned scheme was on the way to being accepted, and that was helping boost the Amigo share price. Until Tuesday morning, that is. The plan required the consent of at least 50% of the firm’s creditors. That was going swimmingly well, with around 95% of votes in favour the the scheme. But then came opposition from the FCA. It appears “the FCA has decided that it intends to appear at the Court sanction hearing through counsel to oppose the sanction of the Scheme, even if approved by the requisite majority of the Scheme creditors, on the basis that the Court cannot be satisfied that the Scheme in its current form is fair.” Should the scheme fail, Amigo has previously said it would go bust. And that would send the Amigo share price all the way down to zero. So what actually is the FCA’s objection, and is it likely to succeed? The FCA’s unfairness claim stems from some creditors’ claims “being significantly reduced whilst other stakeholders such as shareholders are not being asked to contribute.” The FCA also finds fault in the scheme’s proposals not coming from negotiations with creditors. Amigo share price future? The court hearing of the scheme takes place on 19 May, and my guess is it will still be successful. Even if the FCA thinks the deal is unfair, 95% of creditors appear to be happy with it. And they’ll get nothing if the company goes bust. I’d be surprised to see the court going against the clearly-expressed wishes of creditors and forcing a worse outcome. With the Amigo share price still way down despite the 2021 gains, would I buy now? I see it as a risky investment in a risky business, and it could still go badly wrong. It’s a big NO for me.
leoneobull: CNEL91 on LSESensible HeadsToday 17:12Evening all,Now that the dust has settled for the day, let's have a look at this with a sensible head instead of the 2P BY MONDAY or 100P BY JUNE brigade.Vote: Great result, done deal on that front and creditors meeting tomorrow is now a formality in the process rather than an event which will effect the outcome either way. SOA voting passed with a much higher threshold than I anticipated which is great for AMGOs lawyers to use as leverage at the court hearing.FCA: As I said this morning, not ideal and interesting time to choose but let's look at it from the perspective of 'what do the FCA actually want' - one thing is for sure, they don't want Amigo going under. Can anyone tell me any companies that the FCA have forced to go under, would be happy to have a look if they have but from my research I can't see any history of it. The FCA want better terms for customers, that's a given, and they want the PR clout of achieving this at the final hurdle which is why they have picked this moment. Based on their letter and plans to submit evidence ahead of the hearing, my thoughts would be that their evidence relates to board members shareholding and bonus payments in relation to the scheme and how that correlates with share price performance. They will want to document and showcase how GJ bought XYZ volume @ Xp and it now has a value of £XYZ. The question i'm asking myself now is, does this actually have anything to do with the scheme and can it be used as grounds for stopping the SOA? My thoughts are no HOWEVER I think AMGO will have to be seen to offer something to appease the FCA, bearing in mind that we are reliant of FCA approval for both re-lending and new products.Long and short of it, I expect the FCA to present a case that is around 30% credible, Amigo will make some amendments to shareholder bonus plans and push it back to the FCA. The scheme has been voted for my customers based on current terms, should they stand to benefit a little further from percentages there will be no barriers however AMGO will be making the case that this is time sensitive in relation to their current burn-rate and as a business they need clarity to move forward sooner rather than later.I'll be holding, could be stupid, could be a wise move. Lets wait and see.
Amigo share price data is direct from the London Stock Exchange
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