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    AMGO   GB00BFFK8T45

AMIGO HOLDINGS PLC

(AMGO)
  Report
Delayed Quote. Delayed London Stock Exchange - 01/24 11:35:13 am
3.48 GBX   -41.90%
01/24Amigo CFO Exits as Insolvency Warning Plunges Shares Down 42%
MT
01/24UK's Amigo says CFO Mike Corcoran to step down
RE
01/24UK's Amigo says CFO Mike Corcoran to step down
RE
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

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
01/24Amigo CFO Exits as Insolvency Warning Plunges Shares Down 42%
MT
01/24UK's Amigo says CFO Mike Corcoran to step down
RE
01/24UK's Amigo says CFO Mike Corcoran to step down
RE
01/24Amigo Holdings Down 38% As Court Raises Objections To Redress Creditors Scheme
MT
01/24Amigo Holdings Warns of Insolvency if New Business Program Isn't Approved
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01/04Amigo to Redeem $248 Million of 2024 Notes Early
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Analyst Recommendations on AMIGO HOLDINGS PLC
More recommendations
Financials
Sales 2022 102 M 137 M 137 M
Net income 2022 -1,00 M -1,35 M -1,35 M
Net Debt 2022 - - -
P/E ratio 2022 -
Yield 2022 -
Capitalization 16,5 M 22,2 M 22,3 M
Capi. / Sales 2022 0,16x
Capi. / Sales 2023 0,24x
Nbr of Employees 400
Free-Float 48,6%
Chart AMIGO HOLDINGS PLC
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Technical analysis trends AMIGO HOLDINGS PLC
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TrendsBearishBearishBearish
Income Statement Evolution
Consensus
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Buy
Mean consensus SELL
Number of Analysts 1
Last Close Price 0,03 
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