31st Mar 2014 13:15
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 its portfolio.
As previously announced, Case 8008-L's damages claim is on appeal. The appeals court panel affirmed the dismissal of the damages claim. The panel's decision is subject to further appeal. As previously reported, completion of the appellate process through all stages is likely to take at least nine to 12 months. The case has already produced cash returns to the Company of over US$69 million.
Also as previously announced, Case 1208-A, which is part of the Company's significant investment in its antitrust and competition portfolio, is scheduled for trial at the end of Q2 2014. Liability has been won through all appeals and only damages are being decided by a jury at this stage. The case could potentially result in cash returns through settlement to the Company in excess of 15% of the current NAV. Claimed damages are in excess of US$1.0 billion. The Company's Investment Manager expects any settlement to be less than claimed damages.
- Ends -
Forward looking statements
This document contains forward looking statements, which are based on the current expectations and assumptions of the Manager and involve known and unknown risks and uncertainties that could cause actual results or performance 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 report. Except as required by the AIM Rules or otherwise by law, the Company and the Manager 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 Manager'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 Asset 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) Jeremy Ellis
| +44 (0)20 7597 4000 |
Peel Hunt LLP (Joint Broker) Guy Wiehahn
| +44 (0)20 7418 8900
|
Bell Pottinger 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.
The Company's clients are Fortune 1000 companies, FT Global 500 companies, inventors, major universities, and the leading law firms that represent them. Juridica 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.
The Company's 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 Asset 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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