31st Mar 2016 11:59
LONDON (Alliance News) - Juridica Investments Ltd on Thursday reported a significantly wider loss in 2015 as its net asset value per share declined and confirmed that it will no longer be making new investments.
Juridica, which provides strategic capital for corporate legal claims, said its loss for the year multiplied to USD49.2 million from USD5 million in 2014, due to a net unrealised loss of USD47.8 million generated from the change in valuation of the company's investments.
Juridica added that there were a limited number of case results and no significantly large returns over the year. Its net asset value per share fell to USD1.14 from USD1.66, and it confirmed that it is no longer making new investments.
"We will continue to work with the company's board of directors to maximise shareholder value and returning capital to shareholders in the most appropriate manner, following the completion of investments," Juridica said in a statement.
Shares in Juridica were trading down 16% at 43.99 pence on Thursday afternoon.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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