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Pin to quick picksAmigo Share News (AMGO)

Share Price Information for Amigo (AMGO)

London Stock Exchange
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Share Price: 0.252
Bid: 0.25
Ask: 0.28
Change: 0.00 (0.00%)
Spread: 0.03 (12.00%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 0.252
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SMALL-CAP WINNERS & LOSERS: Amigo falls as it faces insolvency

Tue, 01st Jun 2021 10:55

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Tuesday.

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SMALL-CAP - WINNERS

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EnQuest PLC, up 7.1% at 18.32 pence, 12-month range 10.68p-25.30p. Hunting PLC, up 4.4% at 274.50p, 12-month range 176.20p-297.00p. Petrofac PLC, up 2.7% at 136.87p, 12-month range 90.66-241.75p. Shares in the energy-related companies are tracking spot oil prices higher, with Brent crude quoted at USD71.95 a barrel Tuesday morning, up sharply from USD69.77 late Friday. The North Sea benchmark touched an intraday high of USD71 - its highest level since March. Oil was higher as the OPEC meeting gets underway via videoconference on Tuesday.

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SMALL-CAP - LOSERS

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Senior PLC, down 6.7% at 148.31p, 12-month range 41.00p-164.60p. Shares in the aerospace parts maker are lower after it rejected a GBP738 million takeover proposal from Lone Star Global Acquisitions Ltd late Friday. Private equity firm Lone Star made an offer of 176 pence, which was its third unsolicited proposal. Senior rejected the offer saying it undervalued the company. In addition, Peel Hunt places its rating on Senior Under Review from Add.

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Amigo Holdings PLC, down 2.6% at 8.08p, 12-month range 4.84p-30.30p. The guarantor loans provider says it will not appeal a UK court decision rejecting scheme of arrangement. Amigo says it is considering all options, including insolvency or another scheme of arrangement. "Without a scheme, Amigo faces insolvency as it will be unable to satisfy its customer compensation claims as well as meeting the legally binding funding obligations owed to its secured creditors. The board is committed to finding the best solution it can for Amigo's customers and other stakeholders and will be working with its stakeholders, including the FCA, to achieve that solution as quickly as it can," says Chief Executive Officer Gary Jennison.

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By Arvind Bhunjun; arvindbhunjun@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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