REG - Burford Capital Ltd - Issue of New Shares Pursuant to DCP & PDMR Notices

Burford CapitalAnnouncement

21/06/2024 13:00

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RNS Number : 3875T  Burford Capital Limited  21 June 2024

 

June 21, 2024

 

 

Notification of Transactions by Persons Discharging Managerial
Responsibilities

and Issuance of New Shares in Connection with DCP

 

Burford Capital Limited ("Burford"), the leading global finance and asset
management firm focused on law, today announces that, effective June 18, 2024,
Chief Executive Officer Christopher Bogart, Chief Investment Officer Jonathan
Molot and Co-Chief Operating Officers Aviva Will and David Perla received in
aggregate 202,018 Burford's ordinary shares of nil par value ("Shares"). These
distributions of actual Shares were made after each of the executives used his
or her respective cash compensation to make the original investment in
notional Shares through the Burford Capital Deferred Compensation Plan (the
"DCP") in March or April 2022, as applicable.

 

The breakdown of these distributions is as follows: 85,310 Shares to Mr
Bogart, 82,874 Shares to Mr Molot, 20,552 Shares to Ms Will and 13,282 Shares
to Mr Perla. The number of Shares distributed to each executive reflects any
Shares that were withheld for tax purposes.

 

In connection with these distributions pursuant to the DCP to the executives
as set forth above, as well as certain other employees that are not persons
discharging managerial responsibilities, Burford issued in aggregate 208,691
new Shares on June 18, 2024. Application will be made for these 208,691 new
Shares to be admitted to trading on the AIM market of the London Stock
Exchange plc. The expected date of admission is June 28, 2024. These 208,691
new Shares will also be listed on the New York Stock Exchange.

 

Following the issuance of these new Shares, the Company's issued ordinary
share capital is 220,057,785, of which 669,947 Shares are held in treasury and
do not have any voting rights. Therefore, the total number of voting rights in
the Company, excluding treasury shares, will be 219,387,838 after giving
effect to this issuance of new Shares. This figure for the total number of
voting rights may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to notify their
interest in the Company under the FCA's Disclosure Guidance and Transparency
Rules.

 

The Notification of Dealing Forms for the transactions set forth above are
included at the end of this announcement.

 

 

For further information, please contact:

 

 Burford Capital Limited
 For investor and analyst inquiries:
 Americas: Josh Wood, Head of Investor Relations - email                       +1 212 516 5824
 (mailto:jwood@burfordcapital.com)
 EMEA & Asia: Rob Bailhache, Head of EMEA & Asia Investor Relations -          +44 (0)20 3530 2023
 email (mailto:rbailhache@burfordcapital.com)
 For press inquiries:
 David Helfenbein, Vice President, Public Relations - email                    +1 (212) 516 5824
 (mailto:media@burfordcapital.com)

 Deutsche Numis - NOMAD and Joint Broker                                       +44 (0)20 7260 1000
 Giles Rolls
 Charlie Farquhar

 Jefferies International Limited - Joint Broker                                +44 (0)20 7029 8000
 Graham Davidson
 James Umbers

 Berenberg - Joint Broker                                                      +44 (0)20 3207 7800
 Toby Flaux
 James Thompson
 Yasmina Benchekroun

About Burford Capital

Burford Capital is the leading global finance and asset management firm
focused on law. Its businesses include litigation finance
(https://www.burfordcapital.com/) and risk management, asset recovery and a
wide range of legal finance and advisory activities. Burford is publicly
traded on the New York Stock Exchange (NYSE: BUR) and the London Stock
Exchange (LSE: BUR), and it works with companies and law firms around the
world from its offices in New York, London, Chicago, Washington, DC,
Singapore, Dubai, Sydney and Hong Kong.

 

For more information, please visit www.burfordcapital.com
(http://www.burfordcapital.com) .

 

 

This announcement does not constitute an offer to sell or the solicitation of
an offer to buy any ordinary shares or other securities of Burford.

 

This announcement does not constitute an offer of any Burford private fund.
Burford Capital Investment Management LLC, which acts as the fund manager of
all Burford private funds, is registered as an investment adviser with the
US Securities and Exchange Commission. The information provided in this
announcement is for informational purposes only. Past performance is not
indicative of future results. The information contained in this announcement
is not, and should not be construed as, an offer to sell or the solicitation
of an offer to buy any securities (including, without limitation, interests or
shares in any of Burford private funds). Any such offer or solicitation may be
made only by means of a final confidential private placement memorandum and
other offering documents.

 

Forward-looking statements

This announcement contains "forward-looking statements" within the meaning of
Section 21E of the US Securities Exchange Act of 1934, as amended, regarding
assumptions, expectations, projections, intentions and beliefs about future
events. These statements are intended as "forward-looking statements". In some
cases, predictive, future-tense or forward-looking words such as "aim",
"anticipate", "believe", "continue", "could", "estimate", "expect",
"forecast", "guidance", "intend", "may", "plan", "potential", "predict",
"projected", "should" or "will" or the negative of such terms or other
comparable terminology are intended to identify forward-looking statements,
but are not the exclusive means of identifying such statements. In addition,
Burford and its representatives may from time to time make other oral or
written statements that are forward-looking, including in its periodic reports
that Burford files with, or furnishes to, the US Securities and Exchange
Commission, other information made available to Burford's security holders and
other written materials. By their nature, forward-looking statements involve
known and unknown risks, uncertainties and other factors because they relate
to events and depend on circumstances that may or may not occur in the future.
Burford cautions that forward-looking statements are not guarantees of future
performance and are based on numerous assumptions, expectations, projections,
intentions and beliefs and that Burford's actual results of operations,
including its financial position and liquidity, and the development of the
industry in which it operates, may differ materially from (and be more
negative than) those made in, or suggested by, the forward-looking statements
contained in this announcement. Significant factors that may cause actual
results to differ from those Burford expects include, among others, those
discussed under "Risk Factors" in Burford's annual report on Form 20-F for the
year ended December 31, 2023 filed with the US Securities and Exchange
Commission on March 28, 2024 and other reports or documents that Burford files
with, or furnishes to, the US Securities and Exchange Commission from time to
time. In addition, even if Burford's results of operations, including its
financial position and liquidity, and the development of the industry in which
it operates are consistent with the forward-looking statements contained in
this announcement, those results of operations or developments may not be
indicative of results of operations or developments in subsequent periods.

 

Except as required by law, Burford undertakes no obligation to update or
revise the forward-looking statements contained in this announcement, whether
as a result of new information, future events or otherwise.

 

 

 1  Details of the person discharging managerial responsibilities/person closely
    associated
    (a)    Name                                                            Christopher Bogart
 2  Reason for the notification
    (a)    Position/status                                                 A PDMR occupying the position of Chief Executive Officer
    (b)    Initial notification /Amendment                                 Initial
 3  Details of the issuer, emission allowance market participant, auction
    platform, auctioneer or auction monitor
    (a)    Name                                                            Burford Capital Limited
    (b)    LEI                                                             549300FUKUWFYJMT2277
 4  Details of the transaction(s): section to be repeated for (i) each type of
    instrument; (ii) each type of transaction; (iii) each date; and (iv) each
    place where transactions have been conducted
    (a)    Description of the financial instrument, type of instrument     Ordinary Shares
            Identification code                                            GG00BMGYLN96
    (b)    Nature of the transaction                                       Distribution of fully vested Ordinary Shares pursuant to Burford's deferred
                                                                           compensation plan
    (c)    Price(s)and volume(s)                                           Price(s)                                Volume(s)
    $14.44                                                                                                         85,310

    (d)    Aggregated information                                          N/A

    ·      Aggregated volume

    ·      Price
    (e)    Date of the transaction                                         18 June 2024

    (f)    Place of the transaction                                        Outside a trading venue

 

 

 1  Details of the person discharging managerial responsibilities/person closely
    associated
    (a)    Name                                                            Jonathan Molot
 2  Reason for the notification
    (a)    Position/status                                                 A PDMR occupying the position of Chief Investment Officer
    (b)    Initial notification /Amendment                                 Initial
 3  Details of the issuer, emission allowance market participant, auction
    platform, auctioneer or auction monitor
    (a)    Name                                                            Burford Capital Limited
    (b)    LEI                                                             549300FUKUWFYJMT2277
 4  Details of the transaction(s): section to be repeated for (i) each type of
    instrument; (ii) each type of transaction; (iii) each date; and (iv) each
    place where transactions have been conducted
    (a)    Description of the financial instrument, type of instrument     Ordinary Shares
            Identification code                                            GG00BMGYLN96
    (b)    Nature of the transaction                                       Distribution of fully vested Ordinary Shares pursuant to Burford's deferred
                                                                           compensation plan
    (c)    Price(s)and volume(s)                                           Price(s)                                Volume(s)
    $14.44                                                                                                         82,874

    (d)    Aggregated information                                          N/A

    ·      Aggregated volume

    ·      Price
    (e)    Date of the transaction                                         18 June 2024

    (f)    Place of the transaction                                        Outside a trading venue

 

 

 1  Details of the person discharging managerial responsibilities/person closely
    associated
    (a)    Name                                                            Aviva Will
 2  Reason for the notification
    (a)    Position/status                                                 A PDMR occupying the position of Co-Chief Operating Officer
    (b)    Initial notification /Amendment                                 Initial
 3  Details of the issuer, emission allowance market participant, auction
    platform, auctioneer or auction monitor
    (a)    Name                                                            Burford Capital Limited
    (b)    LEI                                                             549300FUKUWFYJMT2277
 4  Details of the transaction(s): section to be repeated for (i) each type of
    instrument; (ii) each type of transaction; (iii) each date; and (iv) each
    place where transactions have been conducted
    (a)    Description of the financial instrument, type of instrument     Ordinary Shares
            Identification code                                            GG00BMGYLN96
    (b)    Nature of the transaction                                       Distribution of fully vested Ordinary Shares pursuant to Burford's deferred
                                                                           compensation plan
    (c)    Price(s)and volume(s)                                           Price(s)                                Volume(s)
    $14.44                                                                                                         20,552

    (d)    Aggregated information                                          N/A

    ·      Aggregated volume

    ·      Price
    (e)    Date of the transaction                                         18 June 2024

    (f)    Place of the transaction                                        Outside a trading venue

 

 

 1  Details of the person discharging managerial responsibilities/person closely
    associated
    (a)    Name                                                            David Perla
 2  Reason for the notification
    (a)    Position/status                                                 A PDMR occupying the position of Co-Chief Operating Officer
    (b)    Initial notification /Amendment                                 Initial
 3  Details of the issuer, emission allowance market participant, auction
    platform, auctioneer or auction monitor
    (a)    Name                                                            Burford Capital Limited
    (b)    LEI                                                             549300FUKUWFYJMT2277
 4  Details of the transaction(s): section to be repeated for (i) each type of
    instrument; (ii) each type of transaction; (iii) each date; and (iv) each
    place where transactions have been conducted
    (a)    Description of the financial instrument, type of instrument     Ordinary Shares
            Identification code                                            GG00BMGYLN96
    (b)    Nature of the transaction                                       Distribution of fully vested Ordinary Shares pursuant to Burford's deferred
                                                                           compensation plan
    (c)    Price(s)and volume(s)                                           Price(s)                                Volume(s)
    $14.44                                                                                                         13,282

    (d)    Aggregated information                                          N/A

    ·      Aggregated volume

    ·      Price
    (e)    Date of the transaction                                         18 June 2024

    (f)    Place of the transaction                                        Outside a trading venue

 

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