Update on appointment of Chair and Board change

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

13 October 2020

Amigo Holdings PLC

("Amigo" or the "Company")

Update on the appointment of the Chair and Board change

Following on from the announcement made on 20 July 2020, Amigo Holdings PLC (LSE: AMGO), a leading provider of guarantor loans in the UK, confirms the FCA has approved Jonathan Roe for the role of Chair of the Company, under the Senior Managers & Certification Regime. The appointment of Jonathan as Chair will be effective today.

As a result of the change listed above, Roger Lovering, who held the position of Acting Chair since 11 June 2020, has resigned as Acting Chair with immediate effect. Roger will step down as Chair of the Risk Committee and as a non-executive director of the Company after a handover period, on 31 October 2020. Jonathan will also take over the Chair of the Nomination Committee with immediate effect.

Jonathan Roe, Chairman: "I am delighted to formally become Amigo's new Chairman. Nothing I have seen in the last two months since I joined the Board as a Non-Executive Director, has diminished my belief that everyone at Amigo shares a common intent of serving its current and future customers' needs.  We have significant challenges but we have the spirit to meet them.  We have geared up to handle the October end of Covid-19 forbearance and we continue to be sensitive to the uncertainties that many of our customers are currently facing ."

Roger Lovering said: "I stated publicly that I would leave the Board of the Company when we had refreshed the Board in an orderly manner. In Jonathan, Gary and Maria we have gathered a talented team that will take the Company forward and help to restore the Company to the position where it can refocus on delivering customer focused solutions for its core customers, who remain underserved by the wider financial sector. "

Following the appointment as Chair, the total number of Directors on Amigo's Board will consist of four independent Non-Executive Directors and two Executive Directors. The Board of Amigo is continuing its dialogue with several potential candidates about further Non-Executive appointments for the roles of Chair of the Audit and Risk Committees.

This announcement contains inside information for the purposes of article 7 of Regulation 596/2014 ("MAR").

Contacts:

Company

Amigo Holdings PLC        [email protected]                    

Kate Patrick                        Head of Investor Relations         

Roger Bennett                  Company Secretary

Media

Hawthorn Advisors         [email protected]

Lorna Cobbett                   Tel: +44 (0)7771 344 781

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014. The person responsible for this announcement is Roger Bennett, Company Secretary.

Senior Secured Notes

This announcement constitutes notice by Amigo Luxembourg S.A. (the "Issuer") to the holders of the Issuer's 7.625% Senior Secured Notes due 2024 (for the notes issued pursuant to Rule 144A of the United States Securities Act of 1933, ISIN: XS1533928468 and Common Code: 153392846; for the notes issued pursuant to Regulation S of the United States Securities Act of 1933, ISIN: XS1533928625 and Common Code: 153392862) (the "Notes") issued pursuant to pursuant to Section 4.03(a)(3) of an indenture dated January 20, 2017 among, inter alia, the Issuer, the guarantors named therein and U.S. Bank Trustees Limited, as trustee and security agent.  Amigo Holdings PLC is the indirect parent company of the Issuer. This announcement shall constitute a "Report" to holders of the Notes.

ENDS