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Amigo Holdings PLC (AMGO)

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Wednesday 04 August, 2021

Amigo Holdings PLC

Market Update

RNS Number : 4786H
Amigo Holdings PLC
04 August 2021
 

4 August 2021

 

Amigo Holdings PLC

("Amigo" or the "Company")

 

Market Update

 

Amigo Holdings PLC (LSE: AMGO) refers to the announcement of 28 July 2021 and provides an update that, on 3 August 2021, a group representing in excess of the requisite 25% in principal amount of the outstanding Senior Secured Notes has sent a letter constituting written notice of the breach referred to in the 28 July 2021 announcement. Accordingly, to avoid an Event of Default occurring, the financial results for the year ended 31 March 2021 must be published within a 30-day period, on or before 2 September 2021. The Board is working with its auditors to enable it to complete the filing of these annual results within this period. The company will update the market with a new date for the publication of the results as soon as possible.

Today, the first meeting of the Independent Customer Committee will take place, which was set up in response to the recommendations of the Judge at Amigo's High Court Scheme sanction hearing in May and will ensure the voice of creditors is heard. The Committee is made up of eight customers, past and present borrowers and guarantors, and will be independently chaired. Customers will have the opportunity to consider the various options, including new Scheme of Arrangement proposals, to negotiate terms or put forward alternative options. The Board is committed to finding a solution that addresses the complaints liability and provides an equitable resolution for all customers.

 

 

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014. 

 

Company

Amigo Holdings PLC  [email protected]  

Mike Corcoran  Chief Financial Officer   

Kate Patrick                      Head of Investor Relations 

 

Media enquiries  [email protected] 

Laura Hastings   07768 790752  

Tom Baldock   07860 101715

 

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.

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-

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