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I doubt very much there are any leaks over the voting numbers.
Amigo won't be going into administration - In the unlikely event the scheme fails, Amigo will have an alternative plan for moving forward - I strongly suspect the vote/result from court will not effect/prevent Amigo from lending again in May. The FCA haven't officially stopped Amigo from lending and the court case is for the approval of a cost saving scheme only - not Amigo's survival. News of Amigo relaunching itself regardless of the result may have leaked ( a hard secret to keep when ones openly advertising for staff ) hence the confident buys.
Positive week ahead.
Good weekend to all
Whilst I remain sceptical on Vinsom's authenticity....
I also do not believe there has been a vote leak.
I do remain firm on my opinion - Amigo will continue lending regardless of the scheme result.
Re Cap - The scheme is a mere cost saving exercise - leveraged with an ultimatum ( Amigo 'COULD' be forced into administration without scheme approval ) - Could.... NOT Will !
Amigo have NOT been 'forced' to stop lending by the FCA - in fact continued lending to key workers during the pandemic.
The FCA raised concerns with the volume of complaints made against Amigo - with reduced lending - allowed Amigo to address the onslaught of complaints / time to work alongside the FCA to restructure etc etc. ?
Now restructuring has taken place - Amigo have likely agreed/signed a plan A and a plan B agreement depending on scheme result ( hence the recent big buys and job advertisements etc ).
Plan B - will not be administration.
Onwards and upwards
GLA
FrankyS1971 - We'll see where the price lands before the weekend. Todays price I don't see as sustainable - HOPE I'M WRONG - but apart from the price - I don't see what's different with this escapade, to ones witnessed previously. Plenty of big fish playing the short/fuelling the fire. I Hadn't mentioned JPM - however like us - they are invested for 1 reason - I doubt it is to cream their knickers though
Thank you for the criticism Blind...
I'll elaborate -
The FCA (I understand) never forcibly stopped Amigo from lending - the new board (from what I can see) came to an understanding with the FCA - yet continued lending to key workers during the pandemic.
According to GJ - there continues to be an unprecedented demand for lending - new products on the horizon etc - Makes for a promising future....
Remember the scheme is ultimately a cost saving exercise - not necessarily life/death as misconstrued.
At no point have Amigo stated that if the scheme fails - they WILL go into insolvency - but MAY result in insolvency.
The mention of insolvency - I consider - may just be a leveraging tool to help the scheme through.
Should the scheme fail - considering the credentials of the new board -I struggle to believe plan B is insolvency.