Bosses at beleaguered loan specialist mystified by surge in share price

Bosses at beleaguered loans firm Amigo Holdings say there is no reason for the sudden surge in the share price of the Dorset business.

The value of shares in the business has risen by 437 per cent since the start of the week.

The company had become practically worthless after the board announced it was entering into an orderly wind-down of the business.

The Bournemouth based business, which operated in the sub-prime market, had struggled to raise funds after it was accused of mis-selling to its customers.

Amigo Holding has been the subject of official investigations and after failing to raise finance took the decision to enter into an orderly wind-down.

A statement was issued this morning regarding the unexpected increase in the share value of the business to just under £1.

The statement said:  “PLC Amigo, a provider of mid-cost credit in the UK that is currently in an orderly solvent wind-down, has noted the recent movement in the Company’s share price and confirms that it knows of no reason for this increase.

“The board continues to implement the fallback solution, which is the orderly wind-down of the business, which is expected to result in no value attributable to shareholders once the wind-down is completed.

“For the benefit of creditors, the board continues to be open to  any indications of interest from third parties for any part of the business.”

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