REG - Amigo Holdings PLC - Employee Share Schemes & Total Voting Rights

Amigo HoldingsAnnouncement

03/04/2023 07:15

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RNS Number : 0488V  Amigo Holdings PLC  03 April 2023

3 April 2023

Amigo Holdings PLC

 

Update on Employee Share Schemes and Total Voting Rights

Amigo Holdings PLC ("Amigo" or "the Company"), a provider of mid-cost credit
in the UK reports, following the announcement on 23 March 2023 that the
Company was reverting to an orderly wind-down of the business, on the changes
noted below to the Company's share schemes.

Long Term Incentive Plan ('LTIP')

With effect from 31 March 2023, all outstanding awards in favour of directors,
PDMR and employees made under the Amigo Holdings PLC Long Term Incentive Plan
were cancelled for nil consideration. At the time of the cancellation, there
were outstanding LTIP awards over 8,047,349 ordinary shares of 0.25 pence each
in the Company ("Ordinary Shares"). Over the course of the period since the
introduction of the LTIP, no LTIP awards over Ordinary Shares have vested.
Details of the cancelled LTIP held by PDMR, totalling awards over 3,500,000
Ordinary Shares are set out in the tables below.

All Employee Shares Incentive Plan ("SIP")

With effect from 31 March 2023 the Company's SIP ceased to accept all new
contributions made on behalf of participants. In due course, following
distribution of the assets retained in the SIP, the Company will seek to wind
up the SIP, in line with the requirements of the SIP and the HMRC.

Save As You Earn ("SAYE")

The Company intends to close the SAYE to all new contributions from
participants and will return to participants their contributions. In due
course, following distribution of the cash held in the SAYE, the Company will
seek to wind up the SAYE, in line with the requirements of the SAYE and the
HMRC. As a result of the closure of the SAYE, all outstanding SAYE options
over Ordinary Shares will be cancelled for nil consideration.

Total voting rights

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. Following the closure of the LTIP and SAYE, there will be
no outstanding options over Ordinary Shares.

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014. The person responsible for this
announcement is Roger Bennett, Company Secretary.

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                                     Nicholas Beal
 2.  Reason for notification
 b)  Position / status                        Chief Restructuring 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                Cancellation of options to acquire ordinary shares under the Company's Long
                                              Term Incentive Plan.
 c)  Price(s) and volume(s)

Price(s)  Volume(s)
                                              Nil cost  1,000,000
 d)  Aggregated information

     Aggregated volume Price

                                              1,000,000

                                              Nil per share
 e)  Date of the transaction                   31 March 2023
 f)  Place of the transaction                 Outside of trading venue

d)

Aggregated information

Aggregated volume Price

 

 

1,000,000

Nil per share

e)

Date of the transaction

 31 March 2023

f)

Place of the transaction

Outside of trading venue

 

     Details of Persons Discharging Managerial Responsibilities "PDMR" / person
     closely associated with them ('PCA')
 a)  Name                                     Paul Dyer
 2.  Reason for notification
 b)  Position / status                        Chief Operating Officer
 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                Cancellation of options to acquire ordinary shares under the Company's Long
                                              Term Incentive Plan.
 c)  Price(s) and volume(s)

Price(s)  Volume(s)
                                              Nil cost  1,500,000
 d)  Aggregated information

     Aggregated volume Price

                                              1,500,000

                                              Nil per share
 e)  Date of the transaction                   31 March 2023
 f)  Place of the transaction                 Outside of trading venue

d)

Aggregated information

Aggregated volume Price

 

 

1,500,000

Nil per share

e)

Date of the transaction

 31 March 2023

f)

Place of the transaction

Outside of trading venue

 

     Details of Persons Discharging Managerial Responsibilities "PDMR" / person
     closely associated with them ('PCA')
 a)  Name                                     Jacob Ranson
 2.  Reason for notification
 b)  Position / status                        Chief Customer Officer
 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                Cancellation of options to acquire ordinary shares under the Company's Long
                                              Term Incentive Plan.
 c)  Price(s) and volume(s)

Price(s)  Volume(s)
                                              Nil cost  1,000,000
 d)  Aggregated information

     Aggregated volume Price

                                              1,000,000

                                              Nil per share
 e)  Date of the transaction                   31 March 2023
 f)  Place of the transaction                 Outside of trading venue

d)

Aggregated information

Aggregated volume Price

 

 

1,000,000

Nil per share

e)

Date of the transaction

 31 March 2023

f)

Place of the transaction

Outside of trading venue

 

 

 

 

ENDS

Enquiries

 Company
 Amigo Holdings PLC         investors@amigo.me
 Kate Patrick               Investor Relations Director
 Roger Bennett              Company Secretary

 Media enquiries            Amigoloans@lansons.com
 Ed Hooper                  07783 387713

 Peel Hunt LLP              020 7418 8900
 James Britton
 Oliver Jackson

About Amigo Loans

Amigo is a public limited company registered in England and Wales with
registered number 10024479. The Amigo Shares are listed on the Official List
of the London Stock Exchange. 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.

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.

 

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