Amigo Holdings (AMGO)

Sector:

Financials

Index:

FTSE Fledgling

6.00p
   
  • Change Today:
      0.030p
  • 52 Week High: 29.50
  • 52 Week Low: 5.76
  • Currency: UK Pounds
  • Shares Issued: 475.33m
  • Volume: 3,167,002
  • Market Cap: £28.52m
  • RiskGrade: 543
  • Beta: 0.79

Amigo looking at new compensation scheme as it faces insolvency

By Michele Maatouk

Date: Tuesday 01 Jun 2021

LONDON (ShareCast) - (Sharecast News) - Amigo Holdings is facing insolvency after the High Court rejected a rescue plan by the guarantor lender that would have seen compensation payments for mis-selling capped.
The company, which was charging a representative APR of around 50%, confirmed on Tuesday that it will not be pursuing an appeal following the Court judgment.

"The board of Amigo continues to consider all options, which includes insolvency, and whether it might be possible and appropriate, given the cost of a scheme, to promote another scheme of arrangement to avoid insolvency," it said. Amigo said it will continue to liaise with the Financial Conduct Authority over the coming weeks to seek to address its concerns as quickly as possible.

The FCA had opposed the scheme on the basis that it was unfair and "placed a disproportionate burden on customers, as opposed to shareholders and bondholders, to keep the company afloat".

Amigo said compensation payments remain on hold and that its full-year results will be delayed.

Chief executive Gary Jennison said: "Without a scheme, Amigo faces insolvency as it will be unable to satisfy its customer compensation claims as well as meeting the legally binding funding obligations owed to its secured creditors.

"The board is committed to finding the best solution it can for Amigo's customers and other stakeholders and will be working with its stakeholders, including the FCA, to achieve that solution as quickly as it can."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Amigo Holdings Market Data

Currency UK Pounds
Share Price 6.00p
Change Today 0.030p
% Change 0.50 %
52 Week High 29.50
52 Week Low 5.76
Volume 3,167,002
Shares Issued 475.33m
Market Cap £28.52m
Beta 0.79
RiskGrade 543

Amigo Holdings Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
28.31% below the market average28.31% below the market average28.31% below the market average28.31% below the market average28.31% below the market average
20.31% below the sector average20.31% below the sector average20.31% below the sector average20.31% below the sector average20.31% below the sector average
Price Trend
94.25% below the market average94.25% below the market average94.25% below the market average94.25% below the market average94.25% below the market average
98.54% below the sector average98.54% below the sector average98.54% below the sector average98.54% below the sector average98.54% below the sector average
Income Not Available
Growth
43.21% below the market average43.21% below the market average43.21% below the market average43.21% below the market average43.21% below the market average
53.33% below the sector average53.33% below the sector average53.33% below the sector average53.33% below the sector average53.33% below the sector average

Amigo Holdings Dividends

  Latest Previous
  Interim Final
Ex-Div 09-Jan-20 18-Jul-19
Paid 29-Jan-20 31-Jul-19
Amount 3.10p 7.45p

Trades for 08-Dec-2021

Time Volume / Share Price
11:51 27,123 @ 6.02p
11:40 3,500 @ 5.98p
11:32 34,473 @ 6.19p
11:21 8,200 @ 6.02p
11:11 29,151 @ 5.98p

Amigo Holdings Key Personnel

CEO Gary Jennison
CFO Michael Corcoran

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