Board change

RNS Number : 5931E

Amigo Holdings PLC

09 November 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

9 November 2020

Amigo Holdings PLC

("Amigo" or the "Company")

Board change

Amigo Holdings PLC (LSE:AMGO), a leading provider of guarantor loans in the UK, announces that Nayan V. Kisnadwala, the Chief Financial Officer, will step down from his role as Chief Financial Officer with effect from 30 November 2020 to pursue other career interests.

The Company anticipates it will be able to announce the appointment of a replacement Chief Financial Officer, in the near future.

Jonathan Roe, Chair of Amigo said:  "Since he joined the business in January 2019, Nayan has made a significant contribution to the work undertaken to deal with the problems facing the Company. He has led the finance team through an extremely difficult period, steering the company steadily despite the turbulence at Board level. He has maintained a strong focus on funding and liquidity to face the challenges of Covid-19 and complaints. The Board would like to thank Nayan for his diligence and hard work. He leaves with our gratitude and best wishes."

Nayan Kisnadwala:  "I am leaving Amigo having   helped steer the business during a period of significant change and challenge borne out of Amigo's legacy issues. I consider the time is right for someone new to lead the finance team through the business's next phase. "

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.

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.

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. Amigo is a 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 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 a mid‐cost provider with a simple and transparent product ‐ a guarantor loan at a representative APR of 49.9 per cent., 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

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