Amigo Holdings PLC Board change (4851Z)
16 Mai 2023 - 8:00AM
UK Regulatory
TIDMAMGO
RNS Number : 4851Z
Amigo Holdings PLC
16 May 2023
16 May 2023
Amigo Holdings PLC
Board change
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 been notified of the board change detailed
below.
On 15 May 2023 Danny Malone resigned from his role as CEO and
Director, subject to serving out his 6 month notice period to
ensure the continuation of the solvent and orderly wind-down of the
business.
Danny Malone, CEO: "I joined Amigo last year as I could see the
potential of the new proposition, RewardRate, in a market which is
crying out for supply. I would like to thank our teams who have
shown remarkable resilience and commitment over what has been a
very challenging period and to everyone for the culture we have
built in such difficult circumstances. Unfortunately the investment
market, particularly into the sector in which Amigo operates, was
extremely difficult and we were unable to raise the capital
required. As a result the business is in wind down, which will have
progressed enough over the next six months for me to hand to others
to complete."
Jonathan Roe, Chair: "Danny was a tireless leader of the
executive team in our search to secure commitments for new
financing for Amigo, which unfortunately proved impossible to
secure. He was also integral to getting our RewardRate product into
the market. As Amigo is now required to wind down under the terms
of its Scheme of Arrangement, Danny's resignation is another sad
day for the Group."
ENDS
Enquiries
Company
Amigo Holdings PLC investors@amigo.me
Kate Patrick Investor Relations Director
Roger Bennett Company Secretary
Media enquiries Amigoloans@lansons.com
Tony Langham 07979 692 287
Louis Wilson 07950 970 366
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
BOAAAMRTMTIBBAJ
(END) Dow Jones Newswires
May 16, 2023 02:00 ET (06:00 GMT)
Amigo (LSE:AMGO)
Historical Stock Chart
Von Dez 2024 bis Jan 2025
Amigo (LSE:AMGO)
Historical Stock Chart
Von Jan 2024 bis Jan 2025
