Corporate update ...

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RNS Number : 0715G

Juridica Investments Limited

18 November 2015

 

Juridica Investments Limited

 

('Juridica' or the 'Company')

 

 

Corporate update

 

 

Further to an existing and continuing review by the Board of Juridica to consider the appropriate future direction of the Company, in conjunction with discussions with shareholders, the Board today announces that the Company will not make new investments (other than for funding existing investments in the Company's portfolio where such funding is reasonably required to realise maximum shareholder value) and will seek to return capital to shareholders in the most appropriate manner, following the completion of investments.

 

Furthermore, the Board has commenced a comprehensive review of all its cost and fees structure, with the objective of reducing the ongoing costs and fees of the Company given the investment approach set out above.

 

The Company's approach to realise the investment portfolio and return capital to shareholders, will not require the Company to dispose of assets ahead of their reasonably expected maturity nor will it result in the liquidation of the Company in the immediate future.

 

Lord Brennan, Chairman of Juridica, commented: "Both the Board of Juridica and its investment manager acknowledge that scale and diversity are now required in order to invest successfully in this asset class, which is not achievable under the Company's existing structure. "

 

A further announcement regarding the above matters will be made to shareholders in due course.

 

 

Dividend

 

The Company announces that it has declared an interim dividend of 5 pence per share payable on 30 December 2015 to shareholders of record on 27 November 2015.

 

- Ends -

 

This document contains forward looking statements, which are based on Juridica Asset Management Limited's (JAML) 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 JAML'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	[phone]
Cenkos Securities PLC - Nominated Adviser and Broker Nicholas Wells Camilla Hume	[phone]
Investec Bank PLC - Joint Broker Darren Vickers Jeremy Ellis	[phone]
Peel Hunt LLP - Joint Broker Guy Wiehahn	[phone]
Bell Pottinger Olly Scott	[phone]

 

This information is provided by RNS

The company news service from the London Stock Exchange

 

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