Business
Board Changes and Company update
Board Changes and Company update.
About this update from Amigo Resources Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\nFOR IMMEDIATE RELEASE\n12 May 2025\n \nAmigo Holdings PLC\n(\"Amigo\" \"PLC\" or the \"Company\")\n \n \nBoard Changes and Company update\n \nAmigo Holdings PLC (\"Amigo\" \"PLC\" or the \"Company\"), a provider of mid-cost credit in the UK that is currently in an orderly solvent wind-down, announces the proposed board changes detailed below. \n \nKerry Penfold will immediately step down from her role as PLC CEO and Director. She will continue with her role as CEO of the Company's subsidiaries (including Amigo Loans Ltd) until 31 May 2025. Nicholas Beal, Amigo's Chief Restructuring Officer will join the PLC board as an Executive Director with immediate effect and will take on Kerry's PLC responsibilities alongside his existing role.\n \nMichael Bartholomeusz will also immediately step down from his role as a PLC Non-Executive Director and Chair of the Audit and Risk Committees. However, he will continue with his role as a Non-Executive Director of the Company's subsidiaries (including Amigo Loans Ltd) until 31 May 2025.\n \nJonathan Roe, Chair commented:\n \n\"Kerry has done an amazing job leading the team through to completion of a very complicated Scheme of Arrangement process. Having navigated us to the second Scheme payment she has decided this is the right time to move on to find a new opportunity. We wish her well for the future and we know that she will succeed at whatever she does next\"\n \n\"I have been very grateful for Michael's support during this very difficult time for Amigo. His contributions to Board discussion, with particular focus on risk and regulation, have made sure that we have done the right thing for customers.\"\n \n\"I extend a warm welcome to Nick to the PLC Board and look forward to working with him to secure an RTO and a long-term future for PLC.\"\n \nFollowing the change, the total number of Directors on Amigo's Board will consist of two independent Non-Executive Directors and one Executive Director. Further information on Nicholas Beal is set out in the Appendix. There is ...