Directorate Change

RNS Number : 7214O

Amigo Holdings PLC

31 January 2019

 

31 January 2019

Amigo Holdings PLC

("Amigo" or the "Company")

Directorate Changes

Further to the announcement made on 11 December 2018, Amigo Holdings PLC (LSE:AMGO), a leading provider of guarantor loans in the UK, today announces the following Board changes:

·     Nayan Kisnadwala, following FCA approval, has joined the Board as an Executive Director; and  

·     Simon Dighton has stepped down from the Board.

Following the above changes the total number of Directors will consist of four independent Non-Executive Directors, including the Chairman and two as Executive Directors.

There are no additional matters that would require disclosure under LR 9.6.13R (1) to (6) in relation to this appointment.

This announcement constitutes notice by Amigo Luxembourg S.A. (the "Issuer") to the holders of the Issuer's £400,000,000 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-

Contacts:

Hawthorn Advisors                                                                   [e-mail]

Lorna Cobbett                                                                        Tel: [phone]

Victoria Ainsworth  

Notes to Editors:

About Amigo Loans

Amigo is the leading company in the UK guarantor loans market and offers access to 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, with approximately 88% UK product share as of 31 March 2018. 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 operates within the mid cost credit market providing a 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).

 

END

 

 

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