On 28 March we announced that we had engaged Jim McColl to act as a Board Consultant to help identify strategic reverse takeover opportunities for Amigo. We also announced £237,548 of new equity investment (before expenses), in two tranches. Tranche 2 (£178,132) is conditional on shareholders’ approval to waive pre-emption rights. A General Meeting will be held on 30 April 2024. A Circular with a detailed explanation can be found here. Shareholders are encouraged to vote for the resolution.

Amigo Holdings PLC

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Amigo Holdings PLC

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.