Amigo Holdings PLC (LSE:AMGO) shares tumbled 30% as it said it knew of no reason for the rise and that under its wind-down plan shareholders will get nothing.
Over the past fortnight, shares in Amigo have more than doubled to 0.7p, but in a statement the guaranteed lender reiterated that its fall-back plan is expected to result in no value attributable to shareholders once the wind-down is completed.
“For the benefit of creditors, the board continues to be open to any indications of interest from third parties for any part of the business,” the statement added.
In March, Amigo said it was shutting its loans arm down after being told there was little chance it could raise additional capital in the current market.
The Bournemouth-based guaranteed loan provider has been battling with mis-selling claims for the past two years resulting in a £97mln scheme being set up to pay off its claimants.