Change of Accounting Reference Date

Amigo Holdings PLC (LSE: AMGO), a provider of mid-cost credit in the UK that is currently in an orderly solvent wind down, has changed its accounting reference date from 31 March to 30 September with immediate effect. Accordingly, the Company's next audited financial statements will be prepared for the 18-month period ending 30 September 2025 and will be required to be published on or before 31 January 2026.

In accordance with the UK Listing Rules, the Company will publish unaudited interim accounts for the period ending 31 March 2025 on or before 30 June 2025.

Thereafter, the Company will publish each year its unaudited interim results for the 6 months ending 31 March by 30 June, and its audited financial statements for the 12 months ending 30 September by 31 January in accordance with the Disclosure Guidance and Transparency Rules.

The Directors have implemented this change in order to preserve cash. As previously announced, the Company has a very limited runway before becoming insolvent. Based on its budget, current resources will run out in late May 2025. The change of accounting reference date defers Amigo incurring a liability to pay costs related to the production of audited financial statements.

Corporate Strategy Update

As previously announced, the Board continues to search for a suitable reverse takeover (“RTO”) target to enable the Company to continue as a viable business in the long term. We have engaged with several potential RTO candidates, and still hope that we will be able to reach a definitive RTO transaction. However, to date no such agreement has been reached and, in the meantime, we are exploring the options to raise additional new funding both to extend the runway before the Company reaches a point of insolvency, and to provide funding for the potential costs associated with an RTO. A further announcement will be made in due course.

Scheme of Arrangement

Our group’s Scheme of Arrangement for misselling loans, is moving to its completion. The Scheme’s second distribution is expected to be announced later in March. We are expecting that this will be the final Scheme distribution and that the Scheme operating companies will enter solvent liquidation in the next few months.

Additional Information