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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
FOR IMMEDIATE RELEASE
24 March 2020
Amigo Holdings PLC
("Amigo" or the "Company")
Covid-19 Trading Update
In light of the UK government's efforts to combat Covid-19 and given the ongoing uncertainty that the economic implications of Covid-19 could have for our customer base, Amigo has taken the decision to temporarily pause all new lending activity, except for lending to key workers in exceptional circumstances.
The Amigo employees freed up from the pause in lending activity will transition into other teams to increase the capacity of the teams that talk to our existing customers, particularly where customers have a need for forbearance, given changes in their financial circumstance. We will reassess our approach to new lending on a regular basis.
Amigo is mindful that it has a requirement to maintain as normal a service as possible to existing customers, while also protecting the health of our employees. We have ensured as many of our employees as possible are working remotely from home, in accordance with the UK government advice.
The Company further confirms the Board is continuing with the Formal Sale Process and Strategic Review outlined on 27 January 2020.
Amigo Holdings PLC email@example.com
Kate Patrick Head of Investor Relations
Roger Bennett Company Secretary
Hawthorn Advisors firstname.lastname@example.org
Lorna Cobbett Tel: +44 (0)20 3745 4960
Corporate Broker and Lead Financial Adviser
RBC Capital Markets Tel: +44 (0)20 7653 4000
Marcus Jackson (Corporate Broking)
Joint Financial Adviser
Houlihan Lokey Tel: +44 (0)20 7907 4245
Senior Secured Notes
This announcement constitutes notice by Amigo Luxembourg S.A. (the "Issuer") to the holders of the Issuer's 7.625% Senior Secured Notes due 2024 (for the notes issued pursuant to Rule 144A of the United States Securities Act of 1933, ISIN: XS1533928468 and Common Code: 153392846; for the notes issued pursuant to Regulation S of the United States Securities Act of 1933, ISIN: XS1533928625 and Common Code: 153392862) (the "Notes") issued pursuant to pursuant to Section 4.03(a)(3) of an indenture dated January 20, 2017 among, inter alia, the Issuer, the guarantors named therein and U.S. Bank Trustees Limited, as trustee and security agent. Amigo Holdings PLC is the indirect parent company of the Issuer. This announcement shall constitute a "Report" to holders of the Notes.
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