Asset Voluntary Requirement with the FCA

RNS Number : 4028C

Amigo Holdings PLC

19 October 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

19 October 2020

Amigo Holdings PLC

("Amigo" or the "Company")

Asset Voluntary Requirement with the FCA

Amigo Holdings PLC (LSE: AMGO), the leading provider of guarantor loans in the UK, has entered into an Asset Voluntary Requirement ('Asset VReq') with the Financial Conduct Authority (the 'FCA').  The Asset VReq does not impact the day to day running of Amigo or its ability to continue to pay down debt.  Amigo has a new Board in place and is in regular and productive dialogue with the FCA to restore confidence following the events of recent months.

The Asset VReq will mean that prior approval by the FCA will be required to permit the transfer of assets outside of the Group in certain circumstances, including discretionary cash payments to the Directors of the Company and dividends to Shareholders.

Amigo has adequate liquidity to continue to fund operations and support its customers. The Board continues to be focused on addressing Amigo's legacy issues, restoring confidence in its corporate governance and building a sustainable business for the long term.

Contacts:

Company

Amigo Holdings PLC  [e-mail]  

Kate Patrick   Head of Investor Relations 

Roger Bennett   Company Secretary

Media

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.

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

 

 

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