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Subprime lender Amigo said it was not planning a share buyback as it urged shareholders to reject an attempt by founder and former chief executive James Benamor to once again lead the company.
Benamor recently posted on social media stating that he had entered into a deal with a broker to purchase up to 29% of Amigo at up to 20p per share, should he again become its CEO.
Amigo said it would post a notice of general meeting as requisitioned by Benamor's Richmond Group on or before 11 September.
'Amigo notes the speculation by Mr Benamor that the board may be considering a share buyback,' it said.
'This is not the case. There are no current plans to buyback any shares of Amigo.'
'The resolution proposed at the forthcoming annual general meeting is a standard authorisation resolution which is sought on a recurring basis by most listed public companies at their AMGS and is in line with The Investment Association's Share Capital Management Guidelines.'
At 2:54pm: (LON:AMGO) Amigo Holdings Plc share price was -0.4p at 12.3p