TIDMAMGO
RNS Number : 1328M
Amigo Holdings PLC
12 September 2019
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH
JURISDICTION
FOR IMMEDIATE RELEASE
12 September 2019
Amigo Holdings PLC ("Amigo" or the "Company")
Grant of Long Term Incentive Plan ("LTIP")
Amigo Holdings PLC (LSE: AMGO), the leading provider of
guarantor loans in the UK, announces that on 11 September 2019,
awards comprising nil-cost options over 3,217,761 ordinary shares
of 0.25 pence each in the Company ("Shares") were granted to
directors and senior managers under the Amigo Holdings PLC 2019
Long Term Incentive Plan (the "Awards"). Of the total number of
Shares under the Awards, 2,052,290 Shares are subject to those
Awards granted to the following executive directors and PDMRs of
the Company:
Director/PDMR Role Award
Hamish Paton Director, CEO 1,103,753
------------------------------- ----------
Nayan Kisnadwala Director, CFO 470,475
------------------------------- ----------
PDMR, Chief Regulatory &
Nicholas Beal Public Affairs Officer 198,675
------------------------------- ----------
Naynesh Patel PDMR, Chief Analytics Officer 279,387
------------------------------- ----------
Total 2,052,290
----------
The vesting of the Awards is conditional on meeting performance
conditions measured over a three-year period as described below,
with a further holding period of two years following the vesting on
the third anniversary of the date the Awards were made.
Performance conditions
The Awards shall be subject to the following Performance
Conditions, and determined by the Board by reference to the
weightings and Vesting schedule also shown below:
Performance Applicable Performance Weighting Vesting
Condition terms target range (% of award) schedule
(threshold (% vesting,
-max) over threshold
the - max)
applicable
Performance
Period
EPS is the
Company's
earnings
divided
by the
weighted
average
number
of Shares;
EPS growth
p.a.
is the
percentage
change in
EPS
over the
applicable
Performance
EPS growth Period, 8% - 16%
p.a. annualised. p.a. 50% 25% - 100%
------------------------ ------------------------ ------------------------ -----------------------
Measures the
growth
in the
potential
value of an
Amigo
share over
the
Performance
Period
- that is,
the
amount the
share
price has
appreciated
plus the
dividends 6% - 12%
Absolute TSR paid. p.a. 25% 25% - 100%
------------------------ ------------------------ ------------------------ -----------------------
Measures the value
a shareholder
receives from
Amigo Shares over
the Performance
Period relative 50th -
to other FTSE 75(th)
250 companies percentile
(excluding Investment of the peer
Relative TSR Trusts). group. 25% 25% - 100%
------------------------ ------------------------ ------------------------ -----------------------
In relation to the EPS Performance Condition, the applicable
Performance Period shall commence on 1 September 2019 and end on 30
September 2022. The adjusted EPS for the 12 months to 30 September
2019 shall be the base for comparison against EPS for each
subsequent 12 month period in the Performance Period.
In relation to the Absolute and Relative TSR Performance
Conditions, the applicable Performance Period shall commence on 1
September 2019 and end on 31 August 2022.
Malus and clawback provisions are also in place to reduce or
recover the Awards for criteria such as any material misstatement
of the financial statements, a serious breach of the Company's code
of ethics or a serious health and safety issue
The below information and notification is made in accordance
with the EU Market Abuse Regulation.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM
Details of Persons Discharging Managerial Responsibilities
"PDMR" / person closely associated with them ('PCA')
=== ======================================================================
a) Name Hamish Paton
=== ======================== ============================================
2. Reason for notification
=== ======================================================================
b) Position / status Chief Executive Officer / Director
=== ======================== ============================================
c) Initial notification Initial notification
/ amendment
=== ======================== ============================================
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
=== ======================================================================
b) Name Amigo Holdings PLC
=== ======================== ============================================
c) LEI 213800PUHEBLCWDW9T74
=== ======================== ============================================
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
=== ======================================================================
a) Description of Ordinary shares of GBP0.0025 each
the financial GB00BFFK8T45
instrument
Identification
code
=== ======================== ============================================
b) Nature of the Grant of options to acquire ordinary shares
transaction under the Company's Long Term Incentive
Plan. Subject to the rules of the scheme,
the option will be exercisable in 2022.
=== ======================== ============================================
c) Price(s) and Price(s) Volume(s)
volume(s) Nil cost 1,103,753
----------
=== ======================== ============================================
d) Aggregated information 1,103,753
Aggregated volume Nil cost
Price
=== ======================== ============================================
e) Date of the transaction 11 September 2019
=== ======================== ============================================
f) Place of the Outside of a trading venue
transaction
=== ======================== ============================================
Details of Persons Discharging Managerial Responsibilities
"PDMR" / person closely associated with them ('PCA')
=== ======================================================================
a) Name Nayan Kisnadwala
=== ======================== ============================================
2. Reason for notification
=== ======================================================================
b) Position / status Chief Financial Officer / Director
=== ======================== ============================================
c) Initial notification Initial notification
/ amendment
=== ======================== ============================================
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
=== ======================================================================
b) Name Amigo Holdings PLC
=== ======================== ============================================
c) LEI 213800PUHEBLCWDW9T74
=== ======================== ============================================
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
=== ======================================================================
a) Description of Ordinary shares of GBP0.0025 each
the financial GB00BFFK8T45
instrument
Identification
code
=== ======================== ============================================
b) Nature of the Grant of options to acquire ordinary shares
transaction under the Company's Long Term Incentive
Plan. Subject to the rules of the scheme,
the option will be exercisable in 2022.
=== ======================== ============================================
c) Price(s) and Price(s) Volume(s)
volume(s) Nil cost 470,475
----------
=== ======================== ============================================
d) Aggregated information 470,475
Aggregated volume Nil cost
Price
=== ======================== ============================================
e) Date of the transaction 11 September 2019
=== ======================== ============================================
f) Place of the Outside of a trading venue
transaction
--- ------------------------ --------------------------------------------
Details of Persons Discharging Managerial Responsibilities
"PDMR" / person closely associated with them ('PCA')
--- ----------------------------------------------------------------------
a) Name Nicholas Beal
=== ======================== ============================================
2. Reason for notification
=== ======================================================================
b) Position / status Chief Regulatory & Public Affairs Officer/
PDMR
=== ======================== ============================================
c) Initial notification Initial notification
/ amendment
=== ======================== ============================================
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
=== ======================================================================
b) Name Amigo Holdings PLC
=== ======================== ============================================
c) LEI 213800PUHEBLCWDW9T74
=== ======================== ============================================
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
=== ======================================================================
a) Description of Ordinary shares of GBP0.0025 each
the financial GB00BFFK8T45
instrument
Identification
code
=== ======================== ============================================
b) Nature of the Grant of options to acquire ordinary shares
transaction under the Company's Long Term Incentive
Plan. Subject to the rules of the scheme,
the option will be exercisable in 2022.
=== ======================== ============================================
c) Price(s) and Price(s) Volume(s)
volume(s) Nil cost 198,675
----------
=== ======================== ============================================
d) Aggregated information 198,675
Aggregated volume Nil cost
Price
=== ======================== ============================================
e) Date of the transaction 11 September 2019
=== ======================== ============================================
f) Place of the Outside of a trading venue
transaction
=== ======================== ============================================
Details of Persons Discharging Managerial Responsibilities
"PDMR" / person closely associated with them ('PCA')
=== ======================================================================
a) Name Naynesh Patel
=== ======================== ============================================
2. Reason for notification
=== ======================================================================
b) Position / status Chief Analytics Officer / PDMR
=== ======================== ============================================
c) Initial notification Initial notification
/ amendment
=== ======================== ============================================
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
=== ======================================================================
b) Name Amigo Holdings PLC
=== ======================== ============================================
c) LEI 213800PUHEBLCWDW9T74
=== ======================== ============================================
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
=== ======================================================================
a) Description of Ordinary shares of GBP0.0025 each
the financial GB00BFFK8T45
instrument
Identification
code
=== ======================== ============================================
b) Nature of the Grant of options to acquire ordinary shares
transaction under the Company's Long Term Incentive
Plan. Subject to the rules of the scheme,
the option will be exercisable in 2022.
=== ======================== ============================================
c) Price(s) and Price(s) Volume(s)
volume(s) Nil cost 279,387
----------
=== ======================== ============================================
d) Aggregated information 279,387
Aggregated volume Nil cost
Price
=== ======================== ============================================
e) Date of the transaction 11 September 2019
=== ======================== ============================================
f) Place of the Outside of a trading venue
transaction
=== ======================== ============================================
Additional Information
This announcement is not intended to, and does not, constitute
or form part of any offer, invitation or the solicitation of an
offer to purchase, otherwise acquire, subscribe for, sell or
otherwise dispose of, any securities, or the solicitation of any
vote or approval in any jurisdiction, pursuant to this announcement
or otherwise.
This announcement constitutes notice by Amigo Luxembourg S.A.
(the "Issuer") to the holders of the Issuer's 7.625% Senior Secured
Notes due 2024 (for the notes issued pursuant to Rule 144A of the
United States Securities Act of 1933, ISIN: XS1533928468 and Common
Code: 153392846; for the notes issued pursuant to Regulation S of
the United States Securities Act of 1933, ISIN: XS1533928625 and
Common Code: 153392862) (the "Notes") issued pursuant to pursuant
to Section 4.03(a)(3) of an indenture dated January 20, 2017 among,
inter alia, the Issuer, the guarantors named therein and U.S. Bank
Trustees Limited, as trustee and security agent. Amigo Holdings PLC
is the indirect parent company of the Issuer. This announcement
shall constitute a "Report" to holders of the Notes.
The person responsible for this announcement is Roger Bennett,
Company Secretary.
-S
Contacts:
Amigo Holdings PLC investors@amigo.me
Kate Patrick, Head of Investor Relations
Roger Bennett, Company Secretary
Hawthorn Advisors amigo@hawthornadvisors.com Tel: 020 3745 4960
Lorna Cobbett
Victoria Ainsworth
Notes to Editors:
About Amigo Loans
Amigo Holdings PLC ("Amigo" or the "Company") is listed on the
main market of the London Stock Exchange (ticker: AMGO). Amigo is a
leading provider of guarantor loans in the UK and offers access to
mid-cost credit to those who are unable to borrow from traditional
lenders due to their credit histories.
The guarantor loan concept introduces a second individual to the
lending relationship, typically a family member or friend with a
stronger credit profile than the borrower. This individual acts as
guarantor, undertaking to make loan payments if the borrower does
not.
Amigo was founded in 2005 and has grown to become the UK's
largest provider of guarantor loans in the UK. In the process,
Amigo's guarantor loan product has allowed borrowers to rebuild
their credit scores and improve their ability to access credit from
mainstream financial service providers in the future.
Amigo is a mid-cost credit provider with one simple and
transparent product - a guarantor loan at an APR of 49.9%, with no
fees, early redemption penalties or any other charges.
Amigo Loans Ltd and Amigo Management Services Ltd are authorised
and regulated in the UK by the Financial Conduct Authority
(FCA).
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DSHLIFEAAVIFLIA
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