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Amigo Holdings: sub-prime lender’s shares slide further as it seeks scheme approval


Shares in small cap sub-prime loans specialist Amigo Holdings [LSE:AMGO] seem to be showing no signs of recovery at the moment. The stock had been trading at around 13p a share but fell off a cliff in November and has lost well over half of its value in the back end of the year.

In its last report to the market Amigo Holdings said it was pursuing a new scheme to address what it called "a significant complaints liability." This has been submitted to the Independent Customer Committee and to the FCA. It intends to apply for court sanction on two schemes, namely a new business scheme contingent on equity raise and resumption of new lending, plus a managed wind down scheme.

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