11th Mar 2025 07:30
March 11, 2025
Notification Of Transactions By Persons Discharging Managerial Responsibilities
Burford Capital Limited ("Burford"), the leading global finance and asset management firm focused on law, provides the following notification of various transactions by persons discharging managerial responsibilities (each, a "PDMR").
Investment by Executive Officers in Burford's Ordinary Shares
On March 6 and 7, 2025, certain executive officers used their respective cash compensation to invest in aggregate over $17.5 million in Burford's ordinary shares of nil par value ("Shares") through the Burford Capital Deferred Compensation Plan. These investments total over 1.2 million Shares, comprising 630,249 Shares by Chief Executive Officer Mr. Bogart, 565,041 Shares by Chief Investment Officer Mr. Molot, 90,489 Shares by Chief Strategy Officer Ms. O'Connell, 1,610 Shares by President Ms. Will and 744 Shares by Chief Financial Officer Mr. Licht.
In addition, on March 10, 2025, Travis Lenkner, Burford's Chief Development Officer, purchased 25,283 Shares on the New York Stock Exchange at $13.25 per Share.
Christopher Bogart, Burford Capital's Chief Executive Officer, commented:
"As founders of Burford, Jon and I have always been highly aligned with shareholders in owning a significant stake in the company. We are excited about the trajectory of the portfolio and our business, and believe strongly in Burford's ability to generate shareholder value through the business of law. Following the recent movement in our share price after what we believe was a terrific year of performance in 2024, we have purchased more than a million additional shares, joined by other members of our senior leadership team."
Investment by Non-Executive Director in Burford's Ordinary Shares
On March 7, 2025, Chris Halmy, non-executive Vice Chair of Burford's board of directors, used his cash compensation to purchase 742 Shares through the Burford Capital Deferred Compensation Plan.
The Notification of Dealing Forms for each of 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 | |
EMEA & Asia: Rob Bailhache, Head of EMEA & Asia Investor Relations - email | +44 (0)20 3530 2023 | |
For press inquiries: | ||
David Helfenbein, Senior Vice President, Public Relations - email | +1 212 516 5824 | |
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 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, D.C., Singapore, Dubai and Hong Kong.
For more information, please visit www.burfordcapital.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any ordinary shares or other securities of Burford.
This press release 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 press release is for informational purposes only. Past performance is not indicative of future results. The information contained in this press release is not, and should not be construed as, an offer to sell or the solicitation of an offer to buy any securities (including 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 press release contains "forward-looking statements" within the meaning of Section 27A of the US Securities Act of 1933, as amended, and Section 21E of the US Securities Exchange Act of 1934, as amended, that are intended to be covered by the safe harbor provided for under these sections. In some cases, 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. Although Buford believes that the assumptions, expectations, projections, intentions and beliefs about future results and events reflected in forward-looking statements have a reasonable basis and are expressed in good faith, forward-looking statements involve known and unknown risks, uncertainties and other factors, which could cause Burford's actual results and events to differ materially from (and be more negative than) future results and events expressed, projected or implied by these forward-looking statements. Factors that might cause future results and events to differ include, among others, those discussed in the "Risk Factors" section of Burford's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the US Securities and Exchange Commission on March 3, 2025. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements contained in the periodic and current reports that Burford files with or furnishes to the US Securities and Exchange Commission. Many of these factors are beyond Burford's ability to control or predict, and new factors emerge from time to time. Furthermore, Burford cannot assess the impact of each such factor on its business or the extent to which any factor or combination of factors may cause actual results and events to be materially different from those contained in any forward-looking statement. Given these uncertainties, readers are cautioned not to place undue reliance on Burford's forward-looking statements.
All subsequent written and oral forward-looking statements attributable to Burford or to persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements speak only as of the date of this press release and, except as required by applicable law, Burford undertakes no obligation to update or revise any forward-looking statements, 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 P. 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 | Notional Ordinary Shares | ||
Identification code | GG00BMGYLN96 | ||
(b) Nature of the transaction | Allocation of fully vested notional Ordinary Shares equivalent to a deferred amount of cash compensation under Burford's deferred compensation plan | ||
(c) Price(s)and volume(s) | Price(s) | Volume(s) | |
$ 13.71 | 544,011.6 | ||
| |||
(d) Aggregated information · Aggregated volume · Price | N/A | ||
(e) Date of the transaction | 6 March 2025
| ||
(f) Place of the transaction | Outside a trading venue | ||
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
(a) Name | Christopher P. 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 | Notional Ordinary Shares | ||
Identification code | GG00BMGYLN96 | ||
(b) Nature of the transaction | Allocation of unvested notional Ordinary Shares pursuant to the provisions of Burford's deferred compensation plan due to vest in 2027 | ||
(c) Price(s)and volume(s) | Price(s) | Volume(s) | |
$ Nil | 181,338.0 | ||
| |||
(d) Aggregated information · Aggregated volume · Price | N/A | ||
(e) Date of the transaction | 6 March 2025
| ||
(f) Place of the transaction | Outside a trading venue | ||
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
(a) Name | Christopher P. 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 | Notional Ordinary Shares | ||
Identification code | GG00BMGYLN96 | ||
(b) Nature of the transaction | Allocation of fully vested notional Ordinary Shares equivalent to a deferred amount of cash compensation under Burford's deferred compensation plan | ||
(c) Price(s)and volume(s) | Price(s) | Volume(s) | |
$ 13.47 | 86,237.40 | ||
| |||
(d) Aggregated information · Aggregated volume · Price | N/A | ||
(e) Date of the transaction | 7 March 2025
| ||
(f) Place of the transaction | Outside a trading venue | ||
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
(a) Name | Christopher P. 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 | Notional Ordinary Shares | ||
Identification code | GG00BMGYLN96 | ||
(b) Nature of the transaction | Allocation of unvested notional Ordinary Shares pursuant to the provisions of Burford's deferred compensation plan due to vest in 2027 | ||
(c) Price(s)and volume(s) | Price(s) | Volume(s) | |
$ Nil | 28,746.0 | ||
| |||
(d) Aggregated information · Aggregated volume · Price | N/A | ||
(e) Date of the transaction | 7 March 2025
| ||
(f) Place of the transaction | Outside a trading venue | ||
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
(a) Name | Jonathan T. 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 | Notional Ordinary Shares | ||
Identification code | GG00BMGYLN96 | ||
(b) Nature of the transaction | Allocation of fully vested notional Ordinary Shares equivalent to a deferred amount of cash compensation under Burford's deferred compensation plan | ||
(c) Price(s)and volume(s) | Price(s) | Volume(s) | |
$ 13.71 | 478,200.9 | ||
| |||
(d) Aggregated information · Aggregated volume · Price | N/A | ||
(e) Date of the transaction | 6 March 2025
| ||
(f) Place of the transaction | Outside a trading venue | ||
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
(a) Name | Jonathan T. 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 | Notional Ordinary Shares | ||
Identification code | GG00BMGYLN96 | ||
(b) Nature of the transaction | Allocation of unvested notional Ordinary Shares pursuant to the provisions of Burford's deferred compensation plan due to vest in 2027 | ||
(c) Price(s)and volume(s) | Price(s) | Volume(s) | |
$ Nil | 159,401.0 | ||
| |||
(d) Aggregated information · Aggregated volume · Price | N/A | ||
(e) Date of the transaction | 6 March 2025
| ||
(f) Place of the transaction | Outside a trading venue | ||
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
(a) Name | Jonathan T. 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 | Notional Ordinary Shares | ||
Identification code | GG00BMGYLN96 | ||
(b) Nature of the transaction | Allocation of fully vested notional Ordinary Shares equivalent to a deferred amount of cash compensation under Burford's deferred compensation plan | ||
(c) Price(s)and volume(s) | Price(s) | Volume(s) | |
$ 13.47 | 86,840.1 | ||
| |||
(d) Aggregated information · Aggregated volume · Price | N/A | ||
(e) Date of the transaction | 7 March 2025
| ||
(f) Place of the transaction | Outside a trading venue | ||
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
(a) Name | Jonathan T. 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 | Notional Ordinary Shares | ||
Identification code | GG00BMGYLN96 | ||
(b) Nature of the transaction | Allocation of unvested notional Ordinary Shares pursuant to the provisions of Burford's deferred compensation plan due to vest in 2027 | ||
(c) Price(s)and volume(s) | Price(s) | Volume(s) | |
$ Nil | 28,947.0 | ||
| |||
(d) Aggregated information · Aggregated volume · Price | N/A | ||
(e) Date of the transaction | 7 March 2025
| ||
(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 President | ||
(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 | Notional Ordinary Shares | ||
Identification code | GG00BMGYLN96 | ||
(b) Nature of the transaction | Allocation of fully vested notional Ordinary Shares equivalent to a deferred amount of cash compensation under Burford's deferred compensation plan | ||
(c) Price(s)and volume(s) | Price(s) | Volume(s) | |
$ 13.71 | 1,610.3 | ||
| |||
(d) Aggregated information · Aggregated volume · Price | N/A | ||
(e) Date of the transaction | 6 March 2025
| ||
(f) Place of the transaction | Outside a trading venue | ||
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
(a) Name | Jordan Licht | ||
2 | Reason for the notification |
| |
(a) Position/status | A PDMR occupying the position of Chief Financial 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 | Notional Ordinary Shares | ||
Identification code | GG00BMGYLN96 | ||
(b) Nature of the transaction | Allocation of fully vested notional Ordinary Shares equivalent to a deferred amount of cash compensation under Burford's deferred compensation plan | ||
(c) Price(s)and volume(s) | Price(s) | Volume(s) | |
$ 13.47 | 744.8 | ||
| |||
(d) Aggregated information · Aggregated volume · Price | N/A | ||
(e) Date of the transaction | 7 March 2025
| ||
(f) Place of the transaction | Outside a trading venue | ||
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
(a) Name | Jordan Licht | ||
2 | Reason for the notification |
| |
(a) Position/status | A PDMR occupying the position of Chief Financial 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 | Notional Ordinary Shares | ||
Identification code | GG00BMGYLN96 | ||
(b) Nature of the transaction | Allocation of unvested notional Ordinary Shares pursuant to the provisions of Burford's deferred compensation plan due to vest in 2027 | ||
(c) Price(s)and volume(s) | Price(s) | Volume(s) | |
$ Nil | 249.0 | ||
| |||
(d) Aggregated information · Aggregated volume · Price | N/A | ||
(e) Date of the transaction | 7 March 2025
| ||
(f) Place of the transaction | Outside a trading venue | ||
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
(a) Name | Elizabeth O'Connell | ||
2 | Reason for the notification |
| |
(a) Position/status | A PDMR occupying the position of Chief Strategy 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 | Notional Ordinary Shares | ||
Identification code | GG00BMGYLN96 | ||
(b) Nature of the transaction | Allocation of fully vested notional Ordinary Shares equivalent to a deferred amount of cash compensation under Burford's deferred compensation plan | ||
(c) Price(s)and volume(s) | Price(s) | Volume(s) | |
$ 13.47 | 90,489.5 | ||
| |||
(d) Aggregated information · Aggregated volume · Price | N/A | ||
(e) Date of the transaction | 7 March 2025
| ||
(f) Place of the transaction | Outside a trading venue | ||
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
(a) Name | Elizabeth O'Connell | ||
2 | Reason for the notification |
| |
(a) Position/status | A PDMR occupying the position of Chief Strategy 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 | Notional Ordinary Shares | ||
Identification code | GG00BMGYLN96 | ||
(b) Nature of the transaction | Allocation of unvested notional Ordinary Shares pursuant to the provisions of Burford's deferred compensation plan due to vest in 2027 | ||
(c) Price(s)and volume(s) | Price(s) | Volume(s) | |
$ Nil | 30,164.0 | ||
| |||
(d) Aggregated information · Aggregated volume · Price | N/A | ||
(e) Date of the transaction | 7 March 2025
| ||
(f) Place of the transaction | Outside a trading venue | ||
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
(a) Name | Travis Lenkner | ||
2 | Reason for the notification |
| |
(a) Position/status | A PDMR occupying the position of Chief Development 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 | Purchase of Ordinary Shares | ||
(c) Price(s)and volume(s) | Price(s) | Volume(s) | |
$ 13.25 | 19,000 | ||
$ 13.25 | 4,928 | ||
$ 13.25 | 55 | ||
$ 13.25 | 1,300 | ||
(d) Aggregated information · Aggregated volume · Price | N/A | ||
(e) Date of the transaction | 10 March 2025
| ||
(f) Place of the transaction | New York Stock Exchange | ||
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
(a) Name | Christopher Halmy | ||
2 | Reason for the notification |
| |
(a) Position/status | A PDMR occupying the position of Vice Chair of the Board of Directors and Non-Executive Director | ||
(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 | Notional Ordinary Shares | ||
Identification code | GG00BMGYLN96 | ||
(b) Nature of the transaction | Allocation of fully vested notional Ordinary Shares equivalent to a deferred amount of cash compensation under Burford's deferred compensation plan | ||
(c) Price(s)and volume(s) | Price(s) | Volume(s) | |
$ 13.47 | 742.4 | ||
| |||
(d) Aggregated information · Aggregated volume · Price | N/A | ||
(e) Date of the transaction | 7 March 2025
| ||
(f) Place of the transaction | Outside a trading venue | ||
Related Shares:
Burford Capital