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Amigo Holdings PLC - Bournemouth, England-based mid-cost credit provider - Chief Executive Officer Danny Malone resigns on Monday but will serve a six-month notice period. Back in March, Amigo announced a wind-down of the company, and subsidiary Amigo Loans Ltd stopped lending. Company anticipates wind-down will result in no value attributable to shareholders.
Malone joined Amigo in 2022. On Tuesday, he says he had seen potential for RewardRate, a new offering from Amigo. ‘Unfortunately the investment market, particularly into the sector in which Amigo operates, was extremely difficult and we were unable to raise the capital required,’ he says. ‘As a result the business is in wind down, which will have progressed enough over the next six months for me to hand to others to complete.’
Current stock price: 0.27 pence, down 0.2% in London on Tuesday
12-month change: down 96%
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