Amigo Granted Lower Free Float Requirement After Shareholder Changes

(Alliance News) - Amigo Holdings PLC said Friday that UK regulators allowed the firm to reduce its free float requirements after it dipped below the 25% mark.

The guarantor loans provider explained that under premium listing rules on the London Stock Exchange, companies are required to have a minimum of 25% of its shares admitted to trading.

When Amigo had its initial public offer in 2018, the firm had above 25% admitted to trading. This has since fallen to 21.2% after "subsequent changes in the shareholder register."

Consequently, the UK Financial Conduct Authority has allowed Amigo to have a minimum of 20% of its shares in public hands. This modification to its minimum free float requirement will last until October 3, 2020.

Shares in Amigo closed 1.8% higher at 71.80 pence in London on Friday.

By Ahren Lester; ahrenlester@alliancenews.com

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