Amigo Holdings PLC (LSE:AMGO) shares continued to fall after the company announced that chief financial officer Mike Corcoran is leaving the company with immediate effect.
The news came after the provider of guarantor loans yesterday warned that it would go out of business unless shareholders approve a 19-for-1 rights issue that is needed to raise money to settle complaints from customers relating to its business practices in the previous decade.
READ: Amigo Holdings slumps as it outlines plans for massively dilutive share issue
Amigo said it expects to announce the appointment of a new CFO in the near future, adding that Corcoran will continue to support the business through an appropriate handover period.
Shares in Amigo dropped over 28% to 2.50p in midday trade.