Views Article – Sharenet Wealth

Europe, News

Subprime lender Amigo settles with top shareholder Richmond

June 4 (Reuters) – Amigo Holdings said on Thursday majority shareholder Richmond Group had agreed to not vote in favour of ousting the subprime lender’s board at its general meeting and that the company had paused its legal proceedings against Richmond.

The company also said it was in talks with Richmond regarding its founder James Benamor’s plan to sell all his shares in the firm, and was assessing the impact the sale could have on Amigo’s plan to put itself up for sale.

Benamor is also group chairman of Richmond. (Reporting by Pushkala Aripaka in Bengaluru)


© 2019 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.