Business
Update on Waiver of Lock-up Arrangements
Update on Waiver of Lock-up Arrangements.
About this update from Amigo Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1572B\n Amigo Holdings PLC\n 05 October 2020\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 5 October 2020\n \n \n \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 Waiver of Lock-up Arrangements\n \n \n \n \n \n \n In connection with Amigo's initial public offering in 2018 (the \"IPO\"), certain directors, senior managers and employees (the \"Lock-up Participants\") of the Company were, for a period of three years from the date of admission of Amigo's shares to trading, party to lock-up agreements which restricted their ability to sell, transfer or otherwise engage in certain transactions related to their shares. Under the terms of the lock-up agreements, shares subject to lock-up would be released in three equal instalments on the first, second and third anniversaries of the IPO. The final lock-up period is scheduled to end on 3 July 2021 (the \"Lock-up Release Date\").\n \n \n \n \n \n Further to the announcement on 30 September 2020, Amigo has today consented to the waiver of the lock-up provisions entered into between all remaining Lock-up Participants and the Company. The effect of the waiver is to bring forward the Lock-up Release Date from 3 July 2021 to 6 October 2020. \n \n \n \n \n \n As a result of the waiver, the Company estimates that 8,258,681 shares (being 1.74% of the issued share capital), may become eligible for sale in the public market at the opening of trading on 6 October 2020. Of the shares released from lock-up, the following relate to directors and PDMR of the Company and a former director, Stephan Wilcke:\n \n \n \n \n \n \n \n \n \n Individual and status\n \n \n \n \n Lock-up shares released\n \n \n \n \n % of issued share capital\n \n \n \n \n \n \n Roger Lovering (director)\n \n \n \n \n 111,145\n \n \n \n \n 0.02%\n \n \n \n \n \n \n Richard Price (director)\n \n \n \n \n 111,145\n \n \n \n \n 0.02%\n \n \n \n \n \n \n Naynesh Patel (PDMR)\n \n \n \n \n...