Business
Update on Legal Proceedings against Richmond Group
Update on Legal Proceedings against Richmond Group.
About this update from Amigo Resources Plc
[{"type":"text","content":"\n \n \n RNS Number : 9910O\n Amigo Holdings PLC\n 04 June 2020\n \n \n \n \n \n \n \n \n \n \n NOT 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\n \n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION \n \n \n \n \n \n FOR IMMEDIATE RELEASE\n \n \n \n \n \n \n \n \n \n \n \n 4 June 2020\n \n \n \n \n \n \n \n \n Amigo Holdings PLC\n \n \n (\"Amigo\" or the \"Company\")\n \n \n \n \n \n Update on Legal Proceedings against Richmond Group Limited\n \n \n \n \n \n Amigo announces that Richmond Group Limited (\"Richmond\") \n has agreed to provide signed written undertakings \n confirming that it shall not, and shall procure that its Associates (as defined in the Relationship Agreement between Richmond and the Company dated 29 June 2018) will not:\n \n \n \n \n \n (i) vote in favour of the resolutions (whether itself or by proxy) to appoint Sam Wells and Nick Makin as directors of Amigo and to remove each of the current members of the board (the \"Resolutions\") at the upcoming general meeting to be held on 17 June 2020 (the \"General Meeting\"); or\n \n \n \n \n \n (ii) take any steps to procure or facilitate the passage of any of the Resolutions at the General Meeting.\n \n \n \n \n \n On the basis of these undertakings, the Company has agreed to stay its injunction application filed against Richmond with the High Court of Justice on 1 June 2020, and expects the necessary Court Order containing the undertakings to be issued shortly.\n \n \n \n \n \n It is intended that the upcoming General Meeting will still go ahead as set out in the Notice of General Meeting posted on 20 May 2020 (the \"Notice\"). For the reasons set out in the Chairman's Letter accompanying the Notice, the strong recommendation of the board is that all other shareholders vote against the Resolutions.\n \n \n \n \n \n Amigo notes the statement made by James Benamor, Richmond's Chairman and controlling shareholder, on social media on 3 June 2020. Mr Benamor's statement referenced that Richmond would place all of its shares i...