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Scheme of Arrangement: update on creditor voting and FCA letter
Amigo Holdings PLC (LSE: AMGO), a leading provider of guarantor loans in the UK, provides an update on the Scheme of Arrangement (the Scheme ) of ALL Scheme Ltd ( SchemeCo ) announced on
25 January 2021, following the closing date for online voting and proxy appointment ahead of the creditor meeting to be held on
12 May 2021.
As at the closure of the online voting portal, the Company has received a total of 74,866 votes in favour of the Scheme and 3,862 votes against. The votes in favour of the Scheme represent approximately 95.1% of the total number of votes cast and approximately 95.7 % of the value of the claims of all creditors who have so far voted. 715 creditors, who have registered to attend the creditors meeting on the
Lorna Cobbett Tel: +44 (0) 7771 344 781
Notes to Editors: § £15.0 million in cash will initially be made available for claims under the Scheme, with up to a potential further £20.0 million dependent on the volume of claims received from current customers relating to loans with outstanding balances. Amigo will continue to be responsible for all customer balance adjustments in full. § Amigo will make an annual cash contribution to the Scheme based on 15.0% of pre-tax profit for the next four financial years beginning on 1 April 2021 up to 31 March 2025.
Additional information
This announcement is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to this announcement or otherwise.
The Cardon-Smith’s also said the bathroom floor was rotten in parts and wasn’t fixed until near the end of the tenancy. The ceilings were mouldy and insulation was not complete. For the first few months of the tenancy, the Cardon-Smith’s did not drink the tap water or use the shower, as the tap water was yellow and had metal particles in it. The issue was fixed when the pipes were replaced in February 2018. There house also had faulty and rotten wooden window frames, with some windows painted shut. There were leaks throughout the home and there was no means of heating when the tenants first moved in.