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% 19.75p 19.00p 20.50p 19.75p 19.75p 19.75p 64,359 07:52:51
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 4.2 -33.4 -30.2 - 21.86

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Date Time Title Posts
18/10/201616:01JURIDICA INVESTMENTS :::::::: Litigation Funding1,025
01/8/201612:50*** Juridica ***-
16/12/200911:12Juridica - Litigation Assets, capital growth and a decent dividend1

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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 19.75p.
Juridica has a 4 week average price of 17.76p and a 12 week average price of 43.56p.
The 1 year high share price is 75.75p while the 1 year low share price is currently 14.50p.
There are currently 110,701,754 shares in issue and the average daily traded volume is 115,981 shares. The market capitalisation of Juridica is £21,863,596.42.
plasybryn: Monster dividend payout tomorrow. I wonder if some will reinvest strengthening the share price?
mortimer7: As stated in 6th Sept RNS: "Net asset value per ordinary share $0.7783" Dollar to Pound converts this at 59p, less 32p dividend = 27p. Current share price 16.5p (15.5 bid/ 17.5 offer). So there's a 10p difference between NAV & current price. I appreciate there's a risk element, but even so this looks cheap IMO.
speedsgh: Simon Thompson (Investors Chronicle) has updated on JIL today with a HOLD recommendation. Worth a read. Juridica’s bumper cash return - HTTP:// [subscription required] "The bottom line is that with several of these remaining investments offering potential to surprise on the upside, and with Juridica’s share price effectively backed by 40p a share of cash, of which 32p will be returned to shareholders shortly, I would recommend holding onto the shares for news of further case settlements if you followed my earlier advice. Hold."
davebowler: EventJuridica's interim results for the period to 30 June show a -21.5% NAV total return for the period to 30 June 2016, in Sterling terms NAV total return is -14.3%.  As the company's assets are denominated in US dollars, we estimated a c. 1% NAV boost following the sharp fall in Sterling following the UK referendum result. The decline in NAV is substantially attributable to a net unrealised loss of US$23.8m generated by a write down in investment valuations. Total comprehensive loss for the period is $27.2m, $0.2467 or 19p per share. As at the end of June, 13 active investments remain in the portfolio; five involving litigation, four patent cases and four concerning collateral, settlements or investments in entities tied to litigation. In respect of the litigation cases, revaluation followed 2 litigation investments being written off over the period contributing a realised loss of $800,000 to the total comprehensive loss figure; a further two investments received adverse primary decisions and are being appealed. For the patent cases valuations depend on market conditions and have been adjusted accordingly. The main valuation movements were a result of the reassessment of the timing and probability a successful resolution of the remaining investments. Two significant cases were settled over the period, as announced in April. These generated total net proceeds of $46.5m. These were the final two cases in the anti-trust and competition investment, one case reached settlement during trial, resulting in gross proceeds of $69.1m; net proceeds of $46m were received in July. A partial settlement was reached in the other resulting in gross proceeds of $600,000; $500,000 of which was received in July 2016, with the final $100,000 expected before December 2017.  Liberum viewThe company adopted a run off strategy in November 2015, having concluded 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.   Under the run off strategy the fund will make no further investments and manage existing investments to their conclusion before returning capital to shareholders. It is hoped that the that the remaining cases in the portfolio will be resolved and monetised by December 2017.    We calculate a c.30% NAV total return from inception to 30 June 2016. Following the receipt of $46.5m net proceeds from the two cases outlined above, the company has declared 32p dividend per share, ex-date 15 September 2016. Taking this dividend into account, total NAV return will be c. 62% from inception.Having been up 59% since the start of 2016, the company's share price fell sharply following the publication of these results, closing down 32% yesterday. The company now trades at a c. 20% discount to the 30 June NA
glynnef: Rathair, When we reach the ex-div date the share price will fall a further 32p, unless I am missing something?
ben value: Does anyone know why the share price has dropped today?
paleje: ST had these in his column today, his conclusion:- To put this sum into perspective, the two cases accounted for $55m of the $126m net asset value of the company at the end of 2015. In other words, the company's cash and receivables are set to treble to 62.5p a share (before accounting for tax and other reserves), meaning that the current share price is fully backed by cash. And, given the board intends to distribute funds back to shareholders, expect another hefty interim dividend to be declared in the forthcoming half-year results. Furthermore, all of Juridica's other 13 legal cases, which have a combined book value of 17p a share, are now in effect in the price for free. That's anomalous given that Juridica has so far generated cash proceeds of $222m (£156m) from two-thirds of the 30 investments made since its formation, of which half have been concluded, representing a return of 30 per cent-plus on its invested capital. Admittedly, there is no guarantee that the remaining cases will reap similar healthy returns, but equally it seems harsh to attribute zero possibility of a successful outcome on any of them as implied by the current valuation. So although Juridica's shares are now up 42 per cent since I included them in this year's portfolio, given the substantial cash backing and deep discount to book value they still rate a decent buy.
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.
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.
Juridica share price data is direct from the London Stock Exchange
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P:35 V: D:20161022 23:43:51