Waiver of Lock-up Arrangements

RNS Number : 6670A

Amigo Holdings PLC

30 September 2020

 

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

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

FOR IMMEDIATE RELEASE

30 September 2020

Amigo Holdings PLC

("Amigo" or the "Company")

Waiver of Lock-up Arrangements

In connection with Amigo's initial public offering in 2018 (the "IPO"), certain directors, senior managers and employees (the "Lock-up Participants") of the Company were, for a period of three years from the date of admission of Amigo's shares to trading, party to lock-up agreements which restricted their ability to sell, transfer or otherwise engage in certain transactions related to their shares. The lock-up period is scheduled to end on 3 July 2021 (the "Lock-up Release Date").

On 23 September 2020, Amigo announced that Glen Crawford would no longer re-join the Board and that his consultancy contract with the Company would terminate with immediate effect.

The Company has today agreed settlement terms with Mr Crawford in connection with the termination of his consultancy contract. As part of those arrangements, Amigo has consented to the waiver of the outstanding lock-up provisions entered into with Mr Crawford, including bringing forward the Lock-up Release Date from 3 July 2021 to 1 October 2020.

Therefore, the Company estimates that 9,396,818 shares (being 1.98% of the issued share capital), may become eligible for sale in the public market at the opening of trading on 1 October 2020.

Contacts:

Company

Amigo Holdings PLC  [e-mail]  

Kate Patrick                     Head of Investor Relations 

Roger Bennett   Company Secretary

Investor Relations

Hawthorn Advisors  [e-mail]

Lorna Cobbett                Tel: [phone]

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 information required under the Companies Act 2006 s.430 (2B) is available on our website

Senior Secured Notes

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.

ENDS

 

END

 

 

MSCWPUWCBUPUGAU