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Sale of Treasury shares

12th Dec 2013 12:30

RNS Number : 4054V
Juridica Investments Limited
12 December 2013
 



Juridica Investments Limited

 

('Juridica' or the 'Company')

 

 

Sale of Treasury shares

 

 

Juridica, a leading provider of strategic capital for corporate legal claims to both businesses and the legal markets, is pleased to announce that on 11 December 2013 it sold its entire Treasury holding of 6,126,607 ordinary shares of no par value in the Company ("Ordinary Shares") with the 14 pence per share dividend, (due to be paid on 15 January 2014 to shareholders on the Register at 13 December 2013) at a price of 139p per share (the "Sale").

 

The Ordinary Shares were placed with a number of institutional investors through the Company's brokers Cenkos Securities and Investec Bank.

 

Following the demonstration of shareholder confidence in the Company by not passing the recent discontinuation vote, the Board of the Company approved the Sale to provide support for the strong pipeline of opportunities to invest in new corporate claim assets.

 

Following the Sale the Company has applied for the 6,126,607 ordinary shares in the Company to be admitted to trading on AIM. Dealing is expected to commence on 18 December 2013. Following this transaction the Company will have 110,701,754 shares in issue. This figure 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, or a change to their interest in the Company.

 

Commenting on the Sale, Juridica's Chairman, Lord Brennan, said: "We manage a high quality portfolio of corporate legal claims and today's Sale will provide additional investment capital. Our product remains strongly sought after and we face an excellent pipeline of new opportunities."

 

 

- 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 

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

This information is provided by RNS
The company news service from the London Stock Exchange
 
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