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

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

FOR IMMEDIATE RELEASE           

                                                                         25 March 2025

Amigo Holdings PLC

("Amigo" or the "Company")

Change of Accounting Reference Date 

Corporate Update

Amigo Holdings PLC (LSE: AMGO), a provider of mid-cost credit in the UK that is currently in an orderly solvent wind down, has changed its accounting reference date from 31 March to 30 September with immediate effect. Accordingly, the Company's next audited financial statements will be prepared for the 18-month period ending 30 September 2025 and will be required to be published on or before 31 January 2026.

In accordance with the UK Listing Rules, the Company will publish unaudited interim accounts for the period ending 31 March 2025 on or before 30 June 2025.

Thereafter, the Company will publish each year its unaudited interim results for the 6 months ending 31 March by 30 June, and its audited financial statements for the 12 months ending 30 September by 31 January in accordance with the Disclosure Guidance and Transparency Rules.

The Directors have implemented this change in order to preserve cash. As previously announced, the Company has a very limited runway before becoming insolvent. Based on its budget, current resources will run out in late May 2025. The change of accounting reference date defers Amigo incurring a liability to pay costs related to the production of audited financial statements.

Corporate Strategy Update

As previously announced, the Board continues to search for a suitable reverse takeover (“RTO”) target to enable the Company to continue as a viable business in the long term. We have engaged with several potential RTO candidates, and still hope that we will be able to reach a definitive RTO transaction. However, to date no such agreement has been reached and, in the meantime, we are exploring the options to raise additional new funding both to extend the runway before the Company reaches a point of insolvency, and to provide funding for the potential costs associated with an RTO. A further announcement will be made in due course.

Scheme of Arrangement 

Our group’s Scheme of Arrangement for misselling loans, is moving to its completion. The Scheme’s second distribution is expected to be announced later in March.  We are expecting that this will be the final Scheme distribution and that the Scheme operating companies will enter solvent liquidation in the next few months.

This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended). The person responsible for this announcement is Nicholas Beal, Company Secretary.

About Amigo 

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 is 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.

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Sponsor as defined in the FCA Listing Rules and is authorised and regulated by the FCA. Beaumont Cornish Limited is acting exclusively for the Company and for no one else in relation to the matters described in this announcement and is not advising any other person and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to clients of Beaumont Cornish Limited, or for providing advice in relation to the contents of this announcement or any matter referred to in it.

-ENDS-