Amigo Holdings considers delisting after deal collapse

  • Stock Market News
Amigo Holdings considers delisting after deal collapse
Credit: © Reuters.

LONDON - Amigo Holdings, the London-based guarantor-loan provider, is facing a potential delisting and liquidation after announcing the termination of a significant transaction with Craven House Capital. This development comes as the company continues to wind down its lending operations.

On Thursday, Amigo Holdings disclosed that the proposed deal, which could have resulted in a reverse takeover, was called off due to demands from various individuals. Despite this setback, the firm remains open to exploring third-party interest in its assets. However, if no alternative options materialize, shareholders could be left with nothing as the company may proceed with delisting and liquidating its remaining assets.

The now-failed exclusivity agreement with Craven House Capital was first made public on October 17. Following this announcement, trading of Amigo Holdings shares resumed today after being suspended since that date. The market reacted unfavorably to the news of the deal's termination, with shares dropping 12.5% to 0.35 pence. This decline is part of a more extensive downward trend for the company, which has seen its stock value plummet by 92% since the start of the year.

Investors are closely monitoring Amigo Holdings as it navigates through these challenging circumstances, with the future of the company hanging in the balance.

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