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The latest update is out from Amigo Holdings PLC ( (GB:AMGO) ).
Amigo Holdings PLC has initiated a solvent members’ voluntary liquidation of its subsidiaries, appointing Chris Laverty and Sean Croston of Grant Thornton UK Advisory & Tax LLP as joint liquidators. The subsidiaries transferred approximately £740,000 to Amigo, which will be used to cover ongoing operating expenses and support efforts to identify a reverse takeover target. The liquidation process is expected to cost around £290,000, leaving Amigo with about £450,000. This move comes after it was determined that the cost of administering further Scheme Payments to creditors exceeded available funds.
Spark’s Take on GB:AMGO Stock
According to Spark, TipRanks’ AI Analyst, GB:AMGO is a Underperform.
Amigo Holdings PLC’s overall stock score is heavily impacted by its challenging financial performance, with declining revenues and significant losses. Bearish technical indicators and concerning valuation metrics further weigh on the score. Recent corporate events, while highlighting strategic efforts, underscore financial instability and potential liquidation risks, contributing to a low overall score.
To see Spark’s full report on GB:AMGO stock, click here.
More about Amigo Holdings PLC
Amigo Holdings PLC is a public limited company registered in England and Wales, with its shares listed on the Official List of the London Stock Exchange.
Average Trading Volume: 2,532,164
Technical Sentiment Signal: Sell
Current Market Cap: £1.85M
Find detailed analytics on AMGO stock on TipRanks’ Stock Analysis page.