Amigo Holdings PLC, a provider of mid-cost credit in the UK that is currently in an orderly solvent wind down, has announced the results of its Annual General Meeting (AGM). All resolutions set out in the Notice of AGM 2023 were passed. The AGM took place at the Bournemouth Highcliff Marriott Hotel. Copies of all resolutions passed, except for those concerning ordinary business, will be submitted to the National Storage Mechanism. The summary of the results for each resolution is provided in the news release.
Some of the resolutions passed include receiving the accounts for the year ended 31 March 2023, approving the Directors' Remuneration Report, and re-electing Jonathan Roe, Michael Bartholomeusz, Danny Malone, and Kerry Penfold as Directors. The appointment of MHA as auditor and the authority to set the remuneration of the auditor were also approved. Additionally, the authority for the company to make political donations, allot shares, and purchase its own ordinary shares was granted. The dis-application of pre-emption rights and the authority to call a general meeting other than an AGM on not less than 14 days' notice were also approved.
The Board expressed gratitude to shareholders for their engagement ahead of the AGM and throughout the year. The news release also provides additional information about Amigo, stating that the company has ceased offering new loans and is in the process of an orderly solvent wind-down. Amigo provided guarantor loans in the UK from 2005 to 2020 and unsecured loans under the RewardRate brand from October 2022. The company's back book of loans is being run off with the net proceeds due to creditors under a Court approved Scheme of Arrangement. Amigo Loans Ltd and Amigo Management Services Ltd are authorized and regulated in the UK by the Financial Conduct Authority.