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Amigo Holdings PLC ( (GB:AMGO) ) has issued an update.
Amigo Holdings PLC has announced a general meeting to seek approval for issuing new ordinary shares without pre-emption rights and at a discount exceeding 10% of the closing mid-market price. This move is part of a capital raise initiative, including a £1.5 million investment through mandatory convertible loan notes and an additional £188,100 from existing shareholders, conditional on the resolution’s approval at the meeting.
Spark’s Take on GB:AMGO Stock
According to Spark, TipRanks’ AI Analyst, GB:AMGO is a Underperform.
Amigo Holdings PLC’s overall stock score is heavily impacted by its challenging financial performance, with declining revenues and significant losses. Bearish technical indicators and concerning valuation metrics further weigh on the score. Recent corporate events, while highlighting strategic efforts, underscore financial instability and potential liquidation risks, contributing to a low overall score.
To see Spark’s full report on GB:AMGO stock, click here.
More about Amigo Holdings PLC
Amigo Holdings PLC is a public limited company registered in England and Wales, with its shares listed on the Official List of the London Stock Exchange.
Average Trading Volume: 3,905,802
Technical Sentiment Signal: Sell
Current Market Cap: £2.2M
For a thorough assessment of AMGO stock, go to TipRanks’ Stock Analysis page.