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Share Name Share Symbol Market Type Share ISIN Share Description
Juridica LSE:JIL London Ordinary Share GG00B29LSW52 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 57.00p 56.00p 58.00p 57.00p 57.00p 57.00p 2,900 07:53:31
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 4.2 -33.4 -30.2 - 63.10

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Juridica Daily Update: Juridica is listed in the General Financial sector of the London Stock Exchange with ticker JIL. The last closing price for Juridica was 57p.
Juridica has a 4 week average price of 55.05p and a 12 week average price of 52.21p.
The 1 year high share price is 118.75p while the 1 year low share price is currently 40.50p.
There are currently 110,701,754 shares in issue and the average daily traded volume is 33,538 shares. The market capitalisation of Juridica is £63,099,999.78.
orchestralis: Which will be counteracted by a dropping share price.
davebowler: Liberum; Juridica Investments Ltd. Two cases reach settlement Event Juridica Investments yesterday announced the settlement of two cases in the portfolio. Together, these cases represent $55m or approximately 43% of the last reported NAV of $126m (or approximately $0.49 per share) as of 31 December 2015. One case has reached a definitive settlement agreement, which is expected to result in gross proceeds of $65m. The other has reached a partial settlement and while the case remains ongoing proceeds of $800,000 are expected as a result of the partial settlement agreement. The company expects that net proceeds (following deductions for tax and other reserves) will be received before the end of this year and will make a distribution to shareholders in an appropriate fashion. Liberum view The conclusion of these cases, especially the large final settlement agreement is a positive development for the company which announced a total comprehensive loss of $49.2m for 2015 (as result of revaluation losses) and a 31% decline in NAV for the year. The company is now in run off and will return capital to shareholders on completion of investments. The company's portfolio now consists of 14 active cases. Excluding the gross proceeds from the newly settled cases, the company has generated net cash proceeds of $222.4m and a 41% NAV total return from inception to 31 December 2015. The share price climbed sharply following the settlement announcements, closing approximately 18% above the opening price reflecting strong buying interest over the day on the back of the news. The company is now trading at a 31% discount to the last reported NAV.
davebowler: Liberum; Juridica Investments Limited Portfolio revaluation leads to loss of $49m for 2015 Event NAV per share fell 31% in dollar terms (28% in GBP terms) from $1.66 (107p) at 31 December 2014 to $1.14 (77p) at 31 December 2015. The reduction is due to a total comprehensive loss of $49.2m for the year, mainly as a result of revaluation losses. Three portfolio cases came a conclusion over the year: in the first the result was favourable and while the judgment amount that was less than expected it resulted in a cash profit of $1.7m; in the second was the outcome was unfavourable ($30m write down at June 2015) but was still a successful investment, resulting in gross returns of $89.7m, a return of 3.4x the initial investment; the final case was settled and resulted in a return of $9.7m on an initial investment of $4.6m. In November 2015 the company announced that the it would enter a run off phase, making no new investments, other than where funding of existing investment was required, and returning capital to shareholders on completion of investments. Prior to the decision to cease new investments, two new investments were made in 2015, one of $1.3m in a pool of technology patent litigations and one of $250,000 in a case involving a claim on misappropriation of trade secrets. Liberum view The adoption of the run off strategy in November 2015 was followed by an announcement on the review of fund costs in February 2016. Management fees payable to Juridica Asset Management Ltd. have been fixed at $3m for 2016 and $1.75m for 2017, amounts substantially less than would be due under the previous arrangements. The decision to enter run off is driven by the fact that the company as it is currently structured does not allow it the scale and complexity required to continue invest in the sector, the company does not allow reinvestment of returns and it has been unable to access significant capital. As of 31 December 2015 the company's portfolio of investments consists of 15 cases, eight involving litigation, which will required ongoing management so the company is likely to continue in operation for some time to come. Five of these cases have already generated returns, totaling $155.7m, but remain active. Since inception the company has generated net cash proceeds of $222.4m, including the 5 active cases and 15 cases that have been brought to a conclusion that generated proceeds of $67.2m with a blended IRR of 20.27%. IRRs may not be reflective of the returns that shareholders ultimately receive, we calculate a 41% NAV total return from inception to 31 December 2015. Despite over half of the loss for the year having been flagged in the interim results, the share price fell sharply, by over 18%, following the publication of the annual report; the company is now trading at a 44.5% discount to the 31 December NAV.
maiken: Mgmt claim they already discount when calculating NAV in effort to be conservative and to reflect risks of binary outcome [win or lose]. 50% share price discount on top of that would have me buying.I'm tempted already....it all depends on your appetite for risk Ongoing expenses have reduced,albeit from excessive levels. A negative,for me,is it would appear if I've read things correctly that 43% of NAV hinges on one case.
cockerhoop: No target....but here's a paragraph 'That’s because Juridica now has 15 cases on its books (consisting of antitrust and competition; patents and intellectual property; and commercial cases), which had a book value of $102.8m (£71.9m) at the end of June 2015. It has committed a maximum of $9.7m to support these cases in the future. In addition, the company has cash and receivables on its balance sheet worth $46.3m, or £32.4m at current exchange rates. This means that with the company’s market capitalisation now only £47.4m, then two-thirds of the share price is backed by cash and receivables (money due for payment on claims awarded in Juridica’s favour). Or, to put it another way, with the company’s shares being priced on less than half last reported net asset value of 94p, of which cash and receivables accounted for 29.5p, then investments in legal cases worth 65p a share are being attributed a value of only 13.5p, or one fifth of their value.'
jonwig: They've had arms firmly twisted by - mainly - Invesco, who realised they couldn't possibly divest their holding. Effectively they are bringing forward the 2016 discontinuation. The share price should rise some way towards the latest NAV, but actually realising that number won't be easy. The "5p dividend" is no such thing: it's a down payment of their capital realisation plan. I see no way it can have been paid out of earnings.
hession: Regrettably, the inevitable absence of a divi this year will continue to depress the share price IMO.JIL were obviously optimistic about the likely outcome of this case but look what happened. Therefore positive updates mean nothing until a fat wadge is paid out to investors. Sorry lads, those of us still holding might have a very long wait before the share price recovers today's fall.
speedsgh: Will not be adding but only because am already at max allocation, otherwise would be. As unpleasant as last night's rns + the subsequent share price reaction was, it is the nature of the JIL beast + something I am comfortable with. The investment has served me well over the last 4yrs seeing as I am predominantly income focused. GLTA
jonwig: The single hit takes NAV from about 120p to 102p so maybe not much further to fall tomorrow, on fundamentals. Sentiment might hit it more, though. EDIT: the RNS says 15.6p, so NAV is around 104p. Q3 update fairly soon. Agreed, they should have waited until tomorrow morning to announce, but they can argue that they were obliged to release the information as soon as they received it, as it was in the US time zone. The positives in the RNS might make a difference if the share price falls too far! NB. Marked trades don't suggest any large holdings were sold in the last ten minutes - the fall earlier in the month is a bit more suspicious!!
guernseymoney: Possibly, but IC are still bullish on JIL and they mentioned that in the same article you refer to. Share price always seems to go like this until they announce what I hope is another fat dividend.

Juridica (JIL) Latest Trade

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Trade Type Trade Size Trade Price Trade Date Trade Time Currency
O 900 56.01 03 May 2016 11:38:02 GBX
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