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    AMGO   GB00BFFK8T45

AMIGO HOLDINGS PLC

(AMGO)
  Report
Delayed Quote. Delayed London Stock Exchange - 01/19 11:35:05 am
5.9 GBX   --.--%
01/04FTSE 100 Rose Tuesday on Bright Outlook, Exceeding 7500 Points
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01/04FTSE 100 Rises to 22-Month High as Omicron Fears Ease
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Lender Amigo plans new $128 mln rescue proposal, shares fall

12/06/2021 | 03:37am EST

Dec 6 (Reuters) - British sub-prime lender Amigo said on Monday it plans to contribute 97 million pounds ($128.32 million) under a new business rescue proposal, revised up from 35 million pounds that it had previously estimated.

The lender laid out two different options — one dependent on the restart of lending operations as well as securing money through an equity raise, and the second being through a managed wind-down of its guarantor loans business.

Amigo, which used to lend to people who fail to secure a loan from a mainstream banks before it halted new loans, said it will put both the schemes to a vote to its creditors.

Shares of the company dropped 13% in early trading.

The new proposals come after London's High Court in May rejected Amigo's previous plan that would have cut compensation payouts to customers who had complained about the company mis-selling loans to them.

The company expects to fund the new business rescue proposal from the equity raise and new capital commitments.

Amigo also said that the country's financial regulator had informed the lender that it might impose a requirement on its regulatory permissions, which could restrict the company from continuing its business.

The Financial Conduct Authority's investigation into Amigo is still ongoing. ($1 = 0.7559 pounds) (Reporting by Sinchita Mitra in Bengaluru; editing by Uttaresh.V)


ę Reuters 2021
All news about AMIGO HOLDINGS PLC
01/04FTSE 100 Rose Tuesday on Bright Outlook, Exceeding 7500 Points
DJ
01/04Sterling Unlikely to Extend Gains Materially
DJ
01/04FTSE 100 Rises to 22-Month High as Omicron Fears Ease
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01/04Amigo to Redeem $248 Million of 2024 Notes Early
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01/04FTSE 100 Set for Strong Start After Fresh U.S. Records
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01/04Amigo Holdings Confirms Early Redemption of GBP184.1 Million of Senior Secured Notes
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01/04Amigo Holdings PLC Announces Confirming the Early Redemption, at Par, of ú184.1 Million..
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2021London Shares to Rise After Upbeat Asia Trading
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2021British lender Amigo puts potential rescue plans to creditors
RE
2021Amigo's Business Scheme Gets Approval By ICC; Shares Down 21%
MT
More news
Analyst Recommendations on AMIGO HOLDINGS PLC
More recommendations
Financials
Sales 2022 102 M 139 M 139 M
Net income 2022 -1,00 M -1,36 M -1,36 M
Net Debt 2022 - - -
P/E ratio 2022 -
Yield 2022 -
Capitalization 28,0 M 38,2 M 38,1 M
Capi. / Sales 2022 0,27x
Capi. / Sales 2023 0,40x
Nbr of Employees 400
Free-Float -
Chart AMIGO HOLDINGS PLC
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Amigo Holdings PLC Technical Analysis Chart | AMGO | GB00BFFK8T45 | MarketScreener
Technical analysis trends AMIGO HOLDINGS PLC
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus SELL
Number of Analysts 1
Last Close Price 0,06 
Average target price
Spread / Average Target -
EPS Revisions
Managers and Directors
Gary Antony Jennison Chief Executive Officer & Executive Director
Michael John Corcoran Chief Financial Officer & Executive Director
Jonathan Caldwell Roe Chairman
Maria Darby-Walker Independent Non-Executive Director
Michael Bartholomeusz Independent Non-Executive Director