1st Oct 2013 07:00
Juridica Investments Limited
('Juridica' or the 'Company')
Portfolio update
Juridica, a leading provider of strategic capital for corporate legal claims to both businesses and the legal markets, provides the following update on developments in the cases that comprise its Antitrust portfolio.
As at 30 June 2013 the carrying value of the Antitrust portfolio was US$139 million. It comprises five antitrust cases and one statutory claim.
The portfolio includes three Antitrust price-fixing cartel cases:
§ Two of these three cases have been set for trial in 2014.
§ The third cartel case does not have a trial date set yet but a trial in this case is possible in 2014 given that the case is near completion of pre-trial proceedings.
The portfolio also includes two monopoly cases:
§ One of these is in the final stages and is awaiting trial court rulings after having been sent back to the trial court following a successful appeal of liability issues. It is expected that this case will likely go to trial in 2014 on damages sometime after the ruling on certain pre-trial motions that are awaiting decision by the court.
§ The trial court has dismissed the other monopoly case, in which US$15 million was invested, and that negative decision has recently been affirmed on appeal. However, further appeals remain to be pursued before a final result is known.
Finally, certain of the claims in the statutory case have also been set for trial in early 2014.
The Company expects that its Antitrust portfolio will produce significant returns to shareholders over the next 18 months.
- Ends -
This document contains forward looking statements, which are based on Juridica Capital Management Limited's (JCML) current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a number of variables which could cause actual results or trends to differ materially. Each forward looking statement speaks only as of the date of this announcement. Except as required by the AIM Rules, the London Stock Exchange or otherwise by law, the Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward looking statements contained herein to reflect any change in the Company's or JCML's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
For further information contact:
Juridica Capital Management Limited Richard W. Fields
| +1 (866) 443 1080
|
Cenkos Securities PLC (Nominated Adviser and Broker) Nicholas Wells Camilla Hume
| +44 (0) 20 7397 8900 |
Investec Bank PLC (Joint Broker) Tim Mitchell
| +44 (0)20 7597 4000 |
Peel Hunt LLP (Joint Broker) Guy Wiehahn
| +44 (0)20 7418 8900
|
Bell Pottinger - Pelham Olly Scott | +44 (0) 20 7861 3232 |
About Juridica Investments Limited
Juridica Investments is a leading provider of strategic capital to the business community and the legal markets for corporate claims. It invests directly and indirectly in a diversified portfolio of corporate claims in litigation and arbitration. Juridica is one of the premier sources of value-added and direct financing for large business claims in the United States and one of the leading sources in the United Kingdom.
Our clients are Fortune 1000 companies, FT Global 500 companies, inventors, major universities, and the leading law firms that represent them. The Company only accepts cases that have already been carefully vetted and undertaken by leading lawyers.
Juridica works to make the legal system work better for business claims. It does not invest in speculative claims or claims that do not demonstrate economic value and clear merits. Juridica invests only in business claims, and does not invest in class actions, personal injury, product liability, or mass tort claims.
Our goal is to provide business clients with financial choices that reduce risk and assist in maximising claim value.
Juridica was established on 21 December 2007 as a limited liability, closed-ended investment company registered in Guernsey. It has over US$200 million of assets under management. It was the pioneer in alternative litigation financing and the first closed-end fund of its kind ever listed on AIM, a market operated by the London Stock Exchange (AIM: JIL.L).
The Company has appointed Juridica Capital Management Limited as its exclusive investment manager to locate, evaluate and manage direct and indirect investments in cases, claims and disputes.
http://www.juridicainvestments.com
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