- Amigo Holdings
- 15 December 2025 07:46:46
Source: Sharecast
Amigo starting winding down its lending operations two years ago, and placed its subsidiaries into liquidation in September, effectively leaving it as a cash entity with minimal liabilities.
Having made all of its staff redundant during the financial year to 30 September, the company has slashed its administrative and corporate costs, and – after winding-up costs and indemnities of £290,000 – has around £460,000 in cash left to cover minimal running costs and to support the search for a potential reverse takeover.
Amigo then appointed Australian entrepreneur Craig Ransley as a board consultant in October, who then raised £1.5m in risk capital in convertible loan notes. The firm announced on Friday that Ransley has now been made director and executive chair.
"While there can be no certainly that a transaction will materialise, Craig's proven track record and the progress made to date have significantly strengthened our prospects of achieving a successful resolution," said outgoing chair Jonathan Roe.
Commenting on his appointment, Ransley said his key focus will be "to reposition Amigo with a focus on gold and rare earth mining opportunities in Africa, principally in Tanzania and Mauritania".