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1 Oct 2018 16:03
1 October 2018
Amigo Holdings PLC ("Amigo" or the "Company")
Directorate Change
Amigo Holdings PLC (LSE:AMGO), a leading provider of guarantor loans in the UK, today confirms the following Directorate change.
Further to the announcement made on 4 September 2018, James Benamor formally resigned as a Director of the Company on 30 September 2018.
Stephan Wilcke, Chairman said: "On behalf of the whole Board I would like to express our gratitude to James for his huge contribution to Amigo. We look forward to continuing our engagement with him and the Richmond Group as a major shareholder."
James Benamor said: "Amigo is a mature business with a great product, a fantastic team, and a loyal customer base. My disengagement from Amigo, like my previous stepping away from the day to day running of the Company, is a further testament to my confidence in the maturity of the Company, the Board and the executive team, and my commitment to Amigo going forward as a truly public company. I will continue to be a major shareholder in Amigo."
Following the above changes the total number of Directors will consist of three independent Non-Executive Directors, including the Chairman and two Executive Directors.
This announcement contains inside information for the purposes of article 7 of Regulation 596/2014 ("MAR").
Ends
Contacts:
Hawthorn Advisors amigo@hawthornadvisors.com Tel: 020 3745 4960
Lorna Cobbett
Victoria Ainsworth
J.P. Morgan Cazenove (Joint Corporate Broker) Tel: 020 7742 4000
Ina De
Kamalini Hull
RBC Capital Markets (Joint Corporate Broker) Tel: 020 7653 4000
Oliver Hearsey
Marcus Jackson
Notes to Editors:
About Amigo Loans
Amigo is the leading company in the UK guarantor loans market and offers access to credit to those who are unable to borrow from traditional lenders due to their credit histories.
The guarantor loan concept introduces a second individual to the lending relationship, typically a family member or friend with a stronger credit profile than the borrower. This individual acts as guarantor, undertaking to make loan payments if the borrower does not.
Amigo was founded in 2005 and has grown to become the UK's largest provider of guarantor loans, with approximately 88% UK product share as of 31 March 2018. In the process, Amigo's guarantor loan product has allowed borrowers to rebuild their credit scores and improve their ability to access credit from mainstream financial service providers in the future.
Amigo operates within the mid cost credit market providing a simple and transparent product - a guarantor loan at an APR of 49.9%, with no fees, early redemption penalties or any other charges.
Amigo Loans Ltd is authorised and regulated in the UK by the Financial Conduct Authority (FCA).
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