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The latest announcement is out from Amigo Holdings PLC ( (GB:AMGO) ).
Amigo Holdings PLC has changed its accounting reference date from 31 March to 30 September to preserve cash, as the company faces a limited financial runway before potential insolvency. This change defers costs associated with producing audited financial statements. The company is actively seeking a reverse takeover target and exploring additional funding options to extend its operational runway. Additionally, Amigo’s Scheme of Arrangement for misselling loans is nearing completion, with the final distribution expected soon, and the scheme’s operating companies are anticipated to enter solvent liquidation.
More about Amigo Holdings PLC
Amigo Holdings PLC is a UK-based provider of mid-cost credit, known for offering guarantor loans and unsecured loans under the RewardRate brand. The company caters to individuals who have difficulty accessing traditional credit due to their credit histories. Amigo is currently undergoing an orderly solvent wind-down, having ceased offering new loans in 2023, and is focused on running off its existing loan book with proceeds going to creditors under a Court-approved Scheme of Arrangement.
YTD Price Performance: -4.76%
Average Trading Volume: 1,378,370
Technical Sentiment Signal: Buy
Current Market Cap: £2.28M
See more data about AMGO stock on TipRanks’ Stock Analysis page.