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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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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Stuart Fieldhouse

Stuart Fieldhouse

Stuart Fieldhouse has spent 25 years in journalism and marketing, including as a wealth management editor for the Financial Times group, covering capital markets and international private banking, and as an investment banking correspondent for Euromoney in Hong Kong. He was the founder editor of The Hedge Fund Journal.

Stuart has worked at CMC Markets, supporting the re-launch of its global financial spread betting and CFD trading platforms. He is also the author of two books on trading, published by Financial Times Pearson. Based in The Armchair Trader’s London office, Stuart continues to advise fund managers, private banks, family offices and other financial institutions.

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