REG - Amigo Holdings PLC - Cancelling of Award under Long Term Incentive Plan

Amigo ResourcesAnnouncement

03/03/2022 18:15

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RNS Number : 6095D  Amigo Holdings PLC  03 March 2022

3 March 2022

Amigo Holdings PLC ("Amigo" or the "Company")

Cancelling of Award under Long Term Incentive Plan

Amigo Holdings PLC (LSE: AMGO), a leading provider of guarantor loans in the
UK, announces that, in respect of awards made under the Amigo Holdings PLC
2019 Long Term Incentive Plan ("LTIP Awards"), the Company has agreed to the
request received today from Gary Jennison, the CEO, that the Company cancel
his LTIP Awards over 9,500,000 ordinary shares of 0.25 pence each in the
Company, made on 1 December 2020.  No compensation will be payable to Mr
Jennison for the cancellation of the Award.

The Company agreed to the cancellation request made by Mr Jennison because it
helps to address the criticism, raised during the Court Sanction hearing held
in May 2021, that the directors could benefit financially through the exercise
of LTIP Awards, in the event the Court approved the proposed Scheme of
Arrangement.

The below information and notification is made in accordance with the EU
Market Abuse Regulation.

 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 

     Details of Persons Discharging Managerial Responsibilities "PDMR" / person
     closely associated with them ('PCA')
 a)  Name                                     Gary Jennison
 2.  Reason for notification
 b)  Position / status                        Chief Executive Officer/PDMR
 c)  Initial notification / amendment         Initial notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 b)  Name                                     Amigo Holdings PLC
 c)  LEI                                      213800PUHEBLCWDW9T74
 4.  Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description of the financial instrument  Ordinary shares of GBP0.0025 each

     Identification code

                                              GB00BFFK8T45
 b)  Nature of the transaction                Cancellations of option to acquire ordinary shares under the Company's Long
                                              Term Incentive Plan.

 c)  Price(s) and volume(s)

Price(s)  Volume(s)
                                              Nil cost  9,500,000

 
 d)  Aggregated information

     Aggregated volume Price

                                              9,500,000

                                              Nil cost
 e)  Date of the transaction                   3 March 2022
 f)  Place of the transaction                 Outside of a trading venue

 

d)

Aggregated information

Aggregated volume Price

 

 

9,500,000

Nil cost

e)

Date of the transaction

 3 March 2022

f)

Place of the transaction

Outside of a trading venue

 

 

Additional Information

This announcement is not intended to, and does not, constitute or form part of
any offer, invitation or the solicitation of an offer to purchase, otherwise
acquire, subscribe for, sell or otherwise dispose of, any securities, or the
solicitation of any vote or approval in any jurisdiction, pursuant to this
announcement or otherwise.

The total number of Ordinary Shares in the Company with voting rights is
475,333,760 and this figure may be used by shareholders in the Company as the
denominator for the calculation by which they will determine if they are
required to notify their interest in, or a change to their interest in, the
share capital of the Company under the FCA's Disclosure Guidance and
Transparency Rules.

This announcement constitutes notice by Amigo Luxembourg S.A. (the "Issuer")
to the holders of the Issuer's 7.625% Senior Secured Notes due 2024 (for the
notes issued pursuant to Rule 144A of the United States Securities Act of
1933, ISIN: XS1533928468 and Common Code: 153392846; for the notes issued
pursuant to Regulation S of the United States Securities Act of 1933, ISIN:
XS1533928625 and Common Code: 153392862) (the "Notes") issued pursuant to
pursuant to Section 4.03(a)(3) of an indenture dated January 20, 2017 among,
inter alia, the Issuer, the guarantors named therein and U.S. Bank Trustees
Limited, as trustee and security agent.  Amigo Holdings PLC is the indirect
parent company of the Issuer. This announcement shall constitute a "Report" to
holders of the Notes.

The person responsible for this announcement is Roger Bennett, Company
Secretary.

-ENDS

www.amigoplc.com

Contacts:

Amigo Holdings PLC       investors@amigo.me
 

Kate Patrick, Head of Investor Relations

Roger Bennett, Company Secretary

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