Amigo – 20p Per Share Offer!


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Title: Amigo – 20p Per Share Offer!
Company: AMIGO -
Share Price Then: 0p
Author: Ian Smith
Date: Fri 29 May 2020
Comments: Amigo charge 49% interest and have around £700 million of loans, yet the board seems to be supportive of an offer of 20.9p per share or £100 million for the company.

The offer is dependent on “the Potential Offer is subject to Amigo's controlling shareholder, Richmond Group Limited ("Richmond Group"), providing an irrevocable undertaking to vote in favour of the transaction and to halt its steps to change the Board composition, and the finalisation of customary documentation.”

No wonder that

However, despite attempts to discuss the Potential Offer with Richmond Group, Amigo has been unable to engage constructively and ascertain Richmond Group's willingness or not to accept the Potential Offer.

Given that the EGM motion to remove the board will surely pass on the 17th of June this offer needs to be explained as it is easy to see it as being in the interests of the purchaser and the board not the share holders.
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