Amigo Holdings (AMGO)

Sector:

Financials

Index:

FTSE Fledgling

11.40p
   
  • Change Today:
      0.050p
  • 52 Week High: 29.50p
  • 52 Week Low: 5.80p
  • Currency: UK Pounds
  • Shares Issued: 475.33m
  • Volume: 1,020,897
  • Market Cap: £54.19m
  • RiskGrade: 543
  • Beta: 0.03

Amigo still considering options, including insolvency

By Michele Maatouk

Date: Thursday 10 Jun 2021

LONDON (ShareCast) - (Sharecast News) - Guarantor lender Amigo Holdings said on Thursday that it is still considering its options and could go bust after the High Court rejected a rescue plan last month that would have seen compensation payments for mis-selling capped.
"The board confirms that under all reasonable scenarios, based on the expected volumes of complaints from current and past customers, that without an appropriate scheme of arrangement to deal with the complaints, the value of Amigo's assets are less than the amount of its liabilities, resulting in an insolvent balance sheet," it said.

The lender, which was charging a representative APR of just under 50%, said it continues to engage with the Financial Conduct Authority to identify an appropriate way forward. "This could result in a revised scheme of arrangement or insolvency," it said.

Amigo shares tumbled late in May after the High Court ruled against its rescue plan. The judge said in his ruling: "The FCA expects the directors to continue to explore and promote a restructuring which fairly allocates the benefits and losses among the various stakeholders. I agree with that, and would urge the directors to continue their efforts to promote a suitable restructuring."

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

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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 11.40p
Change Today 0.050p
% Change 0.44 %
52 Week High 29.50p
52 Week Low 5.80p
Volume 1,020,897
Shares Issued 475.33m
Market Cap £54.19m
Beta 0.03
RiskGrade 543

Amigo Holdings Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
43.94% below the market average43.94% below the market average43.94% below the market average43.94% below the market average43.94% below the market average
39.39% below the sector average39.39% below the sector average39.39% below the sector average39.39% below the sector average39.39% below the sector average
Price Trend
81.16% below the market average81.16% below the market average81.16% below the market average81.16% below the market average81.16% below the market average
78.57% below the sector average78.57% below the sector average78.57% below the sector average78.57% below the sector average78.57% below the sector average
Income Not Available
Growth
43.12% below the market average43.12% below the market average43.12% below the market average43.12% below the market average43.12% below the market average
50% below the sector average50% below the sector average50% below the sector average50% below the sector average50% below the sector average

What The Brokers Say

Strong Buy 0
Buy 0
Neutral 0
Sell 0
Strong Sell 1
Total 1
strong_sell
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

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 15-Oct-2021

Time Volume / Share Price
16:35 52,136 @ 11.40p
16:29 16,246 @ 11.39p
16:23 1,065 @ 11.25p
16:22 5,214 @ 11.70p
16:21 500 @ 11.70p

Amigo Holdings Key Personnel

CEO Gary Jennison
CFO Michael Corcoran

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