We actually passed the witching hour, yeah? I think, are we, am I good to go?
Yes.
Am I live? Right, welcome. Good afternoon. I'd like to, I'd like to welcome you to the general meeting of Amigo Holdings PLC. I'm Jonathan Roe, Chair of Amigo Holdings PLC. It's now just after 1:30 P.M., and I declare the meeting open. I extend my welcome to the many shareholders that have not been able to join us in Bournemouth here today or to watching us on Zoom. Although the meeting is technically being held in person, we've done our best to enable you to contribute, and there's an opportunity for us to answer questions submitted by, in advance by those of you watching online. With me here today from the board of directors is, to my right, Kerry Penfold, Chief Executive and Chief Financial Officer, and to my left...
Sorry, my Financial Executive Director, Michael Bartholomeusz, is unable to be in the room today, and he sends his apologies, but he's joined us by Zoom. I'm also joined by Nick Beal to my left, who is our company secretary. A few quick housekeeping points. May I please remind you to switch off your mobile phones, and please take note, for those of us today in the room in Bournemouth, the emergency exit is enclosed at the back. All right. The company secretary has confirmed to me that we have a quorum, and I declare the meeting open. The notice of general meeting together with explanatory notes was posted to shareholders on the ninth of April, and accordingly, the requisite notice of meeting has been given. I propose, therefore, that notice of meeting should be taken as read.
This has been a very difficult few years for Amigo, and in March 2023, so just over a year ago, we announced that we would not be able to complete the capital raise for our lending businesses. And this raise was court-imposed, had a court-imposed deadline under our group's scheme of arrangement. As a consequence, under the scheme of arrangement, we were required to put the lending business into wind down. We spent the last year winding down the business and completing the actions required under the scheme of arrangement to optimize the amount we were able to pay to scheme creditors. We communicated the outcome of their claims to 98% of claimants, and we've been paying out refunds where they're owed to scheme creditors.
We expect very shortly to be announcing the pence in the pound to be paid in the interim distribution, and to start paying that too. I must pay tribute to the many wonderful staff that we've had to make redundant over the last year, as we've been winding down the business, and continue to thank the remaining few that will be with us for a bit longer to help complete the job of closing the subsidiaries business down and liquidating the lending companies. As you will be aware, we received an offer from Peterhouse Capital Limited to provide further funding to Amigo Holdings PLC. The first tranche of this investment was completed on the 5th April 2024. We've also appointed Jim McColl as a strategic consultant, reporting to the board to investigate RTO, reverse takeover, opportunities.
Details of Jim's background, covering nearly 30 years' experience of creating investor value by building businesses, was set out in detail in our announcement. I'm delighted to welcome Jim to our team. Jim intends to join the board, but not before the proposed internal reorganization has been completed. We will update the market in due course. The purpose of today's meeting is to consider and vote on a resolution that authorizes the directors to issue... to allot and issue new shares up to an aggregate nominal amount of GBP 178,132, which represents 14.2% of the company's existing issued share capital. We estimate the new investment will give Amigo Holdings PLC runway for up to a year to agree and complete any potential RTO transaction.
We have just received confirmation that regulatory consent for the internal reorganization is not required, and therefore, that precondition to the issue of new shares has been met, and we will now action the reorganization. If the resolutions are passed at today's general meeting, the issue of the new shares will only be conditional on them being listed on the London Stock Exchange. Moving now to the Q&A. We gave the opportunities for shareholders to submit questions to Amigo ahead of today. We did not actually receive any questions from shareholders about the resolutions proposed at this general meeting, hence I will move to any questions in the room. Anybody who wish to raise a question? It would seem not. Thank you. We can come back and answer questions if need be. Voting procedures.
To accurately reflect the views of shareholders of the company, voting today will be done by way of a proxy vote cast on the resolution put to the meeting. This gives all shareholders the opportunity to participate in the decision-making of the company and have their votes recorded in proportion to the number of shares they hold. Link Asset Services, the company's registrars, have collated the votes cast by shareholders on behalf of the company and performed checks to ensure that those entitled to vote have been able to cast their vote. A breakdown of the proxy votes that we have received will be shown on the screen behind me.
As there are no additional votes to be added or changes made to the proxy votes already cast using the proxy voting service, the voting on the resolution, apologies, put to you, will be decided in accordance with the votes displayed on the screen behind me. We'll, of course, publicize the results of the meeting through our Regulatory Information Service , and we'll also publish them on our website as soon as reasonably practical after the meeting. We will now proceed to vote on the resolution, which I formally propose to the meeting. As this is a special resolution, it requires 75% of the votes cast to be in favor of the proposal. The full text of the resolution is set out in the notice of meeting, a copy of which you have received.
The proxy votes are as noted on the screen, and the resolution is carried. So in the round, 20.6 million voted for, 500,000 voted against, so 97.7% of those voting voted in favor, and I thank you for that. That concludes the business of the meeting. I thank you for all of your interests and for joining the meeting. We will update the market on the issue and admission of the stocks, the admission to the Stock Exchange of the new shares in due course. I declare the meeting closed. Final results of the meeting will be announced to the markets through our Regulatory Information Service and posted on our website as soon as practicable. Any more... So if anybody wished to raise any more questions?
No hands, no nothing. Right, thank you so much for attending, and fingers crossed, we'll find a way forward to preserve the company. Thank you.