Business
Appointment of strategic consultant
Appointment of strategic consultant.
About this update from Amigo Resources Plc
[{"type":"text","content":"\n\n28 March 2024\nAmigo Holdings PLC\n(\"Amigo\" or the \"Company\")\n \nAppointment of Jim McColl as strategic consultant\nPlacing of new shares\nTotal Voting Rights (TVR)\n \nAmigo Holdings PLC (\"Amigo\") is pleased to announce that it has today engaged Jim McColl to act as a Board Consultant. In that role, Jim McColl will assist the Board in identifying potential strategic opportunities for Amigo to continue as a listed company by way of a reverse takeover. At this very early stage, there can be no certainty that a reverse takeover will take place and any such transaction will inter alia require shareholder approval and a new application for listing in accordance with Listing Rule 5.6. The Board expects that Jim McColl will be formally appointed a non-executive Director of Amigo, once the new issue of shares, described below, has been completed. Jim McColl brings nearly 30 years' experience of creating investor value by building businesses. Further background information on Jim McColl is set out below.\nThe engagement of Jim McColl has been made in the context of Amigo's group's ongoing Scheme of Arrangement (\"Scheme\") pursuant to which Amigo's current operating subsidiary, Amigo Loans Ltd (\"ALL\"), is being run-off and subsequently placed into Liquidation, with effectively all value being for the benefit of creditors under the Scheme.\nWhilst the potential future options for Amigo are being developed, Peterhouse Capital Limited (\"Peterhouse\") has arranged the following placing of 95,019,200 new ordinary shares of 0.25p each fully paid (\"new Ordinary Shares\") at an issue price of 0.25p per share (\"Placing Price\") ranking pari passu in all respects with the existing issued ordinary shares (\"Placing\"):\n- 23,766,400 new Ordinary Shares raising £59,416 before expenses, representing 5% of Amigo's existing issued share capital (\"First Placing Shares\"); and\n- A further 71,252,800 new Ordinary Shares raising £178,132 before expenses, representing 14.99% of Amigo's existing issued capital (\"Second Placing Shares\"). This issue of the Second Placing Shares is conditional upon shareholders approving the waiver of their pre-emption rights at a General Meeting which will be convened in due course and also on regulatory approval for an intra group funding reorganis...