IN BRIEF: Provident amends scheme of arrangement after Amigo ruling

Provident Financial PLC - Bradford-based subprime lender - On Monday announces amendments to its ...

Alliance News 22 June, 2021 | 5:59AM
Email Form Facebook Twitter LinkedIn RSS

Provident Financial PLC - Bradford-based subprime lender - On Monday announces amendments to its consumer credit division scheme of arrangement to pay compensation to customers. The scheme will now have a customer advocate. In the "highly unlikely" event that the division generates surplus cash before it is wound down, the surplus will be paid to customers.

Provident says it made the changes following the judgement against Amigo Holdings PLC's scheme of arrangement.

Current stock price: 210.60 pence

Year-to-date change: down 31%

By Ivan Edwards; ivanedwards@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

Email Form Facebook Twitter LinkedIn RSS

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Amigo Holdings PLC 5.20 GBX 1.96 -
Provident Financial PLC 197.62 GBX -3.97 -

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.