TIDMAMGO
RNS Number : 0488V
Amigo Holdings PLC
03 April 2023
3 April 2023
Amigo Holdings PLC
Update on Employee Share Schemes and Total Voting Rights
Amigo Holdings PLC ("Amigo" or "the Company"), a provider of
mid-cost credit in the UK reports, following the announcement on 23
March 2023 that the Company was reverting to an orderly wind-down
of the business, on the changes noted below to the Company's share
schemes.
Long Term Incentive Plan ('LTIP')
With effect from 31 March 2023, all outstanding awards in favour
of directors, PDMR and employees made under the Amigo Holdings PLC
Long Term Incentive Plan were cancelled for nil consideration. At
the time of the cancellation, there were outstanding LTIP awards
over 8,047,349 ordinary shares of 0.25 pence each in the Company
("Ordinary Shares"). Over the course of the period since the
introduction of the LTIP, no LTIP awards over Ordinary Shares have
vested. Details of the cancelled LTIP held by PDMR, totalling
awards over 3,500,000 Ordinary Shares are set out in the tables
below.
All Employee Shares Incentive Plan ("SIP")
With effect from 31 March 2023 the Company's SIP ceased to
accept all new contributions made on behalf of participants. In due
course, following distribution of the assets retained in the SIP,
the Company will seek to wind up the SIP, in line with the
requirements of the SIP and the HMRC.
Save As You Earn ("SAYE")
The Company intends to close the SAYE to all new contributions
from participants and will return to participants their
contributions. In due course, following distribution of the cash
held in the SAYE, the Company will seek to wind up the SAYE, in
line with the requirements of the SAYE and the HMRC. As a result of
the closure of the SAYE, all outstanding SAYE options over Ordinary
Shares will be cancelled for nil consideration.
Total voting rights
The total number of Ordinary Shares in the Company with voting
rights is 475,333,760 and this figure may be used by shareholders
in the Company as the denominator for the calculation by which they
will determine if they are required to notify their interest in, or
a change to their interest in, the share capital of the Company
under the FCA's Disclosure Guidance and Transparency Rules.
Following the closure of the LTIP and SAYE, there will be no
outstanding options over Ordinary Shares.
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.
The below information and notification is made in accordance
with the EU Market Abuse Regulation.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM
Details of Persons Discharging Managerial Responsibilities
"PDMR" / person closely associated with them ('PCA')
=== ==========================================================================
a) Name Nicholas Beal
=== ======================== ================================================
2. Reason for notification
=== ==========================================================================
b) Position / status Chief Restructuring Officer/PDMR
=== ======================== ================================================
c) Initial notification Initial notification
/ amendment
=== ======================== ================================================
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
=== ==========================================================================
b) Name Amigo Holdings PLC
=== ======================== ================================================
c) LEI 213800PUHEBLCWDW9T74
=== ======================== ================================================
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
=== ==========================================================================
a) Description of Ordinary shares of GBP0.0025 each
the financial
instrument
GB00BFFK8T45
Identification
code
=== ======================== ================================================
b) Nature of the Cancellation of options to acquire ordinary
transaction shares under the Company's Long Term Incentive
Plan.
=== ======================== ================================================
c) Price(s) and Price(s) Volume(s)
volume(s) Nil cost 1,000,000
----------
=== ======================== ================================================
d) Aggregated information
Aggregated volume
Price 1,000,000
Nil per share
=== ======================== ================================================
e) Date of the transaction 31 March 2023
=== ======================== ================================================
f) Place of the Outside of trading venue
transaction
=== ======================== ================================================
Details of Persons Discharging Managerial Responsibilities
"PDMR" / person closely associated with them ('PCA')
=== ==========================================================================
a) Name Paul Dyer
=== ======================== ================================================
2. Reason for notification
=== ==========================================================================
b) Position / status Chief Operating Officer
=== ======================== ================================================
c) Initial notification Initial notification
/ amendment
=== ======================== ================================================
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
=== ==========================================================================
b) Name Amigo Holdings PLC
=== ======================== ================================================
c) LEI 213800PUHEBLCWDW9T74
=== ======================== ================================================
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
=== ==========================================================================
a) Description of Ordinary shares of GBP0.0025 each
the financial
instrument
GB00BFFK8T45
Identification
code
=== ======================== ================================================
b) Nature of the Cancellation of options to acquire ordinary
transaction shares under the Company's Long Term Incentive
Plan.
=== ======================== ================================================
c) Price(s) and Price(s) Volume(s)
volume(s) Nil cost 1,500,000
----------
=== ======================== ================================================
d) Aggregated information
Aggregated volume
Price 1,500,000
Nil per share
=== ======================== ================================================
e) Date of the transaction 31 March 2023
=== ======================== ================================================
f) Place of the Outside of trading venue
transaction
=== ======================== ================================================
Details of Persons Discharging Managerial Responsibilities
"PDMR" / person closely associated with them ('PCA')
=== ==========================================================================
a) Name Jacob Ranson
=== ======================== ================================================
2. Reason for notification
=== ==========================================================================
b) Position / status Chief Customer Officer
=== ======================== ================================================
c) Initial notification Initial notification
/ amendment
=== ======================== ================================================
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
=== ==========================================================================
b) Name Amigo Holdings PLC
=== ======================== ================================================
c) LEI 213800PUHEBLCWDW9T74
=== ======================== ================================================
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
=== ==========================================================================
a) Description of Ordinary shares of GBP0.0025 each
the financial
instrument
GB00BFFK8T45
Identification
code
=== ======================== ================================================
b) Nature of the Cancellation of options to acquire ordinary
transaction shares under the Company's Long Term Incentive
Plan.
=== ======================== ================================================
c) Price(s) and Price(s) Volume(s)
volume(s) Nil cost 1,000,000
----------
=== ======================== ================================================
d) Aggregated information
Aggregated volume
Price 1,000,000
Nil per share
=== ======================== ================================================
e) Date of the transaction 31 March 2023
=== ======================== ================================================
f) Place of the Outside of trading venue
transaction
=== ======================== ================================================
ENDS
Enquiries
Company
Amigo Holdings PLC investors@amigo.me
Kate Patrick Investor Relations Director
Roger Bennett Company Secretary
Media enquiries Amigoloans@lansons.com
Ed Hooper 07783 387713
Peel Hunt LLP 020 7418 8900
James Britton
Oliver Jackson
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.
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END
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