June 4, 2020 / 11:45 AM / 2 months ago

Subprime lender Amigo settles with top shareholder Richmond

(Reuters) - Amigo Holdings (AMGO.L) 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

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