RNS28 Sep 2022 08:19
The Board expects to propose a capital raise of approximately Β£40m, which will include the 19:1 ordinary share issue mandated by the Scheme ("the Capital Raise"). In addition, Amigo will raise debt to support future growth. The Company will seek to facilitate meaningful participation by its existing shareholders on a pre-emptive basis, underwritten by one or more institutional investors whom it expects to account for the majority of the Capital Raise. The structure remains under consideration and, due to its complexity and the uncertainties of the market, Amigo reserves the right to make appropriate amendments to the size and terms of the Capital Raise. As a precursor to enabling a successful Capital Raise, work is continuing to reach a settlement of the FCA's Enforcement investigations into affordability and complaints handling.