Amigo Holdings PLC - Bournemouth-based guarantor loan provider - Notes that so far it has been unable to find a cornerstone investor for a fundraise to fund its scheme of arrangement, but says that some investors have expressed possible interest for a minority investment. "Amigo is therefore assessing whether there is sufficient interest for a syndicate of such investors to be formed in order to support a GBP45 million capital raise," the company says. Amigo says that if it cannot achieve the planned capital raise by May 26, it will wind-down the business. The scheme allows Amigo to pay compensation to customers with a claim for redress for mis-sold loans.

Chief Executive Officer Danny Malone says: "It is disappointing that we have so far been unable to identify the requisite equity backers for the business. However, we are continuing with our efforts to put together an equity investor consortium as expeditiously as possible. We realise that the economic backdrop since we announced the scheme has changed substantially. This has made the process of raising equity capital to support the scheme conditions significantly more challenging than expected."

Current stock price: 3.25 pence, down 17% on Monday

12-month change: down 45%

By Tom Budszus, Alliance News reporter

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