Cancelling of Award under Long Term Incentive Plan
3 March 2022
Amigo Holdings PLC ("Amigo" or the "Company")
Cancelling of Award under Long Term Incentive Plan
Amigo Holdings PLC (LSE: AMGO), a leading provider of guarantor loans in the UK, announces that, in respect of awards made under the Amigo Holdings PLC 2019 Long Term Incentive Plan ("LTIP Awards"), the Company has agreed to the request received today from Gary Jennison, the CEO, that the Company cancel his LTIP Awards over 9,500,000 ordinary shares of 0.25 pence each in the Company, made on 1 December 2020. No compensation will be payable to Mr Jennison for the cancellation of the Award.
The Company agreed to the cancellation request made by Mr Jennison because it helps to address the criticism, raised during the Court Sanction hearing held in May 2021, that the directors could benefit financially through the exercise of LTIP Awards, in the event the Court approved the proposed Scheme of Arrangement.
The below information and notification is made in accordance with the EU Market Abuse Regulation.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
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Details of Persons Discharging Managerial Responsibilities "PDMR" / person closely associated with them ('PCA') |
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a) |
Name |
Gary Jennison |
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2. |
Reason for notification |
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b) |
Position / status |
Chief Executive Officer/PDMR |
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c) |
Initial notification / amendment |
Initial notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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b) |
Name |
Amigo Holdings PLC |
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c) |
LEI |
213800PUHEBLCWDW9T74 |
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4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
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a) |
Description of the financial instrument
Identification code
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Ordinary shares of GBP0.0025 each
GB00BFFK8T45 |
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b) |
Nature of the transaction |
Cancellations of option to acquire ordinary shares under the Company's Long Term Incentive Plan.
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c) |
Price(s) and volume(s) |
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d) |
Aggregated information Aggregated volume Price |
9,500,000 Nil cost |
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e) |
Date of the transaction |
3 March 2022 |
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f) |
Place of the transaction |
Outside of a trading venue |
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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.
The total number of Ordinary Shares in the Company with voting rights is 475,333,760 and this figure may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
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.
The person responsible for this announcement is Roger Bennett, Company Secretary.
-ENDS
www.amigoplc.com
Contacts:
Amigo Holdings PLC investors@amigo.me
Kate Patrick, Head of Investor Relations
Roger Bennett, Company Secretary
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