Business
Amigo Holdings PLC: Liquidation of subsidiaries
Amigo Holdings PLC announced that its subsidiaries have appointed liquidators to carry out solvent members' voluntary liquidations. Before this process, the subsidiaries transferred approximately £740,000 in available cash to Amigo. Amigo has agreed to indemnify the liquidators and subsidiaries for winding-up costs, expected to total around £290,000, leaving Amigo with approximately £450,000. These funds will cover Amigo's minimal ongoing operating expenses and support efforts to identify a reverse takeover target. The funds arose because the costs of making and administering a further Scheme Payment to approximately 135,000 Scheme Creditors was more than the funds available for distribution. Disclaimer*
About this update from Amigo Resources Plc
[{"type":"text","content":"\n\nFOR IMMEDIATE RELEASE\n30 September 2025\n \nAmigo Holdings PLC\n(\"Amigo\" \"PLC\" or the \"Company\")\nUpdate\n \nAs previously announced on 17 September 2025, all of Amigo's subsidiaries have today appointed Chris Laverty and Sean Croston of Grant Thornton UK Advisory & Tax LLP (the \"Liquidators\") as joint liquidators to carry out (solvent) members' voluntary liquidations of the Company's subsidiaries (\"Subsidiaries\").\nBefore this process began, the Subsidiaries transferred all available cash amounting to approximately £740,000 (\"Surplus\"), to Amigo. In return, Amigo has agreed to indemnify the Liquidators and the Subsidiaries against all costs and expenses associated with winding up the affairs of the Subsidiaries and dissolving these entities by way of solvent liquidations. These costs and expenses are expected to total around £290,000, leaving Amigo with approximately £450,000 (\"Funds\").\nThe Funds will be used to cover Amigo's minimal ongoing operating expenses and support its continued efforts to identify a suitable reverse takeover target. Importantly, the Funds arose as the costs of making and administering a further Scheme Payment (to the approximately 135,000 Scheme Creditors under the redress Scheme) was more than the funds available for distribution, as referenced in the Scheme Supervisors' final progress report which was posted on 29 August 2025.\n \n\n\n\n\nAmigo Holdings PLC\n\n\[email protected]\n\n\n\n\nNick Beal\n\n\nChief Executive \n\n\n\n\n \n\n\n \n\n\n\n\nSponsor\n\n\nBeaumont Cornish\n0207 628 3396\n\n\n\n\n\n\n\n\n\n\n\n\nThis announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended). The person responsible for this announcement is Nicholas Beal, Company Secretary. \nAbout Amigo Holdings PLC\nAmigo is a public limited company registered in England and Wales with registered number 10024479. The Amigo Shares are listed on the Official List of the London Stock Exchange.\n-ENDS-\n\n","length":4555,"tagName":"div"}]