Amigo - comment

Amigo creditors yesterday acted as had been anticipated and voted overwhelmingly in their own best interest. The New Business Scheme (Amigo 2.0) will now go before the High Court on 23/24 May in a Sanctioning hearing. Our expectation is that Amigo 2.0 will be approved by the court and that bondholders will have the opportunity to take part in the required capital raising exercise. The new scheme has been crafted to address the deficiencies that caused the last effort to be rejected by the court. Furthermore, the FCA is not opposed to the plan. Amigo 2.0 received approval from 90.0% (by value) of creditors who voted. Amigo’s shares will be suspended from the start of the court hearing (23 May) until the company can update the market. 

https://polaris.brighterir.com/public/amigo_loans/news/rns/story/w1yp43w