Reduction of Unavoidable Corporate Expenses

Source: RNS
RNS Number : 9349O
Amigo Holdings PLC
30 June 2025
 

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

30 June 2025

 

Amigo Holdings PLC

("Amigo" "PLC" or the "Company")


Update

 

Amigo Holdings PLC, a UK provider of mid-cost credit that is currently in an orderly solvent wind-down, today announces that it has reduced its unavoidable monthly corporate expenses to a level that means that it has sufficient cash for the next couple of months. However, the Company has no contingency reserves to absorb unanticipated events.


The search for a reverse takeover counterparty and related funding continues with potentially interested parties. 


Amigo Scheme Update

The Scheme activities are nearing completion. The costs of the Scheme and its solvent winding up will continue to be borne by the ringfenced Scheme funds

 

Amigo Holdings PLC

investors@amigo.me

Nick Beal

Chief Executive 

 

 

Sponsor

Beaumont Cornish

0207 628 3396



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 Holdings PLC

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 started 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 has been 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.

-ENDS-

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
 
 
UPDUROVRVKUNORR