Directorate Change

RNS Number : 1763C

Amigo Holdings PLC

14 June 2019

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

FOR IMMEDIATE RELEASE

14 June 2019

Amigo Holdings PLC ("Amigo")

Directorate Change

Further to the announcement on 23 April 2019, Glen Crawford, CEO, has resigned as an executive director of Amigo with immediate effect due to his previously disclosed health condition. He will nevertheless remain available to advise the board and to continue with the comprehensive handover to Hamish Paton, Chief Commercial Officer and CEO designate, over the next month.

Nayan Kisnadwala is now the sole executive director of Amigo, and it is anticipated he will remain so until Hamish Paton is promoted to the role of CEO and appointed as a director and his approval by the FCA comes into effect. Until Hamish's appointment, Nayan will work on a day-to-day basis with the members of the executive committee, who will share responsibility for the management of Amigo. The Chairman, Stephan Wilcke, will take on increased responsibility for liaising with external stakeholders, including investors, regulators and the media.

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.

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.

Contacts

Hawthorn Advisors [e-mail] Tel:        [phone]

Lorna Cobbett

Victoria Ainsworth

Notes to Editors:

About Amigo Loans

Amigo Holdings PLC ("Amigo" or the "Company") is listed on the main market of the London Stock Exchange (ticker: AMGO). Amigo is the leading provider of guarantor loans in the UK and offers access to mid-cost credit to those who are unable to borrow from traditional lenders due to their credit histories. 

The guarantor loan concept introduces a second individual to the lending relationship, typically a family member or friend with a stronger credit profile than the borrower. This individual acts as guarantor, undertaking to make loan payments if the borrower does not.

Amigo was founded in 2005 and has grown to become the UK's largest provider of guarantor loans, in the UK. In the process, Amigo's guarantor loan product has allowed borrowers to rebuild their credit scores and improve their ability to access credit from mainstream financial service providers in the future.

Amigo is active in the provision of consumer credit, offering one simple and transparent product - a guarantor loan at an APR of 49.9%, with no fees, early redemption penalties or any other charges.

Amigo Loans Ltd and Amigo Management Services Ltd are authorised and regulated in the UK by the Financial Conduct Authority (FCA).

 

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