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On April 19, 2023, Amigo Holdings PLC noted its recent share price movement and confirmed it knows of no reason for the increase. The company's board continues to implement an orderly solvent wind-down, initially announced on March 23, 2023, which is expected to result in no value for shareholders, while remaining open to third-party indications of interest for parts of the business for the benefit of creditors.
| Date | 19 Apr 2023 |
| Time | 07:00:04 |
| Category | Corporate updates |
| ID | 6620W |
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
FOR IMMEDIATE RELEASE
19 April 2023
Amigo Holdings PLC
Statement re. share price movement
Amigo Holdings PLC ("Amigo" or "the Company"), a provider of mid-cost credit in the UK that is currently in an orderly solvent wind-down, has noted the recent movement in the Company's share price and confirms that it knows of no reason for this increase.
The board continues to implement the fallback solution, which is the orderly wind-down of the business, which is expected to result in no value attributable to shareholders once the wind-down is completed. For the benefit of creditors, the board continues to be open to any indications of interest from third parties for any part of the business.
ENDS
Enquiries
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Company |
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Amigo Holdings PLC |
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Kate Patrick |
Investor Relations Director |
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Roger Bennett |
Company Secretary |
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Media enquiries |
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Ed Hooper |
07783 387713 |
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Peel Hunt LLP |
020 7418 8900 |
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James Britton |
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Oliver Jackson |
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About Amigo Loans
Amigo is a public limited company registered in England and Wales with registered number 10024479. The Amigo Shares are listed on the Official List of the London Stock Exchange. On 23 March 2023 Amigo announced that it has ceased offering new loans, with immediate effect, and would start the orderly solvent wind-down of the business. Amigo provided guarantor loans in the UK from 2005 to 2020 and unsecured loans under the RewardRate brand from October 2022, offering access to mid‐cost credit to those who are unable to borrow from traditional lenders due to their credit histories. Amigo's back book of loans is in the process of being run off with all net proceeds due to creditors under a Court approved Scheme of Arrangement. Amigo Loans Ltd and Amigo Management Services Ltd are authorised and regulated in the UK by the Financial Conduct Authority.
Additional Information
This announcement is not intended to, and does not, constitute or form part of any offer, invitation, or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell, or otherwise dispose of, any securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to this announcement or otherwise.