REG - Amigo Holdings PLC - Scheme of Arrangement Update

Amigo HoldingsAnnouncement

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RNS Number : 7571Z  Amigo Holdings PLC  17 September 2025

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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

FOR IMMEDIATE RELEASE

17 September 2025

 

Amigo Holdings PLC

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

Update

 

Amigo Holdings PLC announces that, in accordance with the terms of the group's
Scheme of Arrangement, PwC, as Scheme Supervisor, has now passed a resolution
that the Scheme has been completed on its terms.

Accordingly, the Board intends to appoint practitioners from Grant Thornton as
liquidators of Amigo's operating subsidiaries and intermediate holding
companies (the "Companies") later this month, including Amigo Loans Ltd and
ALL Scheme Limited (which was the scheme company). The liquidators will then
complete the solvent liquidation of the Companies.

At the time of the appointment of the liquidators, the Board expects that
there will be a residual pool of funds, which is too small to pay to Scheme
creditors, as the cost of making those payments is in excess of the funds
available for distribution. Accordingly, these funds will be paid to Amigo and
will provide working capital for the continued solvency of Amigo and to
support the ongoing search for a suitable reverse takeover target. The amount
of the funds to be paid to Amigo has yet to be finalised, and a further
announcement will be made in due course.

On appointment of the liquidators to the Companies, Amigo will cease to have
any further operating activities or operations and will therefore be a cash
shell and with no further liability under the Scheme. Amigo will provide
further clarification in due course on the Company's listing classification
under the UK Listing Rules in line with UKLR 13.2.3G.

Nick Beal CEO of Amigo said

"While this marks the end of the historic Amigo businesses, which provided
credit to thousands of families that were unable to obtain credit from high
street lenders, the completion of the Scheme enables the Company to draw a
line under the past.

"We remain hopeful that we can find a future for Amigo Holdings PLC, so that
it can support the needs of a different business. Therefore, we are pleased
that we will be able to continue (and hopefully successfully conclude) our
discussion with reverse takeover targets for a few more months."

 

 

 

 Amigo Holdings PLC  investors@amigo.me
 Nick Beal           Chief Executive

 Sponsor             Beaumont Cornish

                     0207 628 3396

 

This announcement contains inside information for the purposes of Regulation
11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310
(as amended). The person responsible for this announcement is Nicholas Beal,
Company Secretary.

 

 

About Amigo Holdings PLC

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 started 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 has been run off with all net proceeds paid to creditors under a Court
approved Scheme of Arrangement.

-ENDS-

 

 

 

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