Burford Capital Share Discussion Threads

[tomtrudgian] 27/12/2023 14:52

Surely buying back shares, donald pond, is only after:

1/ Paying back the 9.25% Burford bond early if the deed so allows, which is does not. Everything can be negotiated, of course.

2/ Before that the President’s casual suggestion of a perpetual bond (ie. no capital payments), with unstated interest is worth very little.

Anyway before any bond is passed by the Argentinian bicameral congress, both the senator’s and the deputy’s chambers support is required. Does the president have both?

[somerset lad] 27/12/2023 14:28

Milei is not saying ARG will pay * subject to ARG’s appeal being determined in BUR’s favour *. There’s no mention of the appeal, implicitly accepting that it has no real merit.

[planit2] 27/12/2023 13:55

The buybacks might well be a preferred option. Directors have significant shareholding and I assume they feel Burford is as undervalued as we do.

Buybacks will increase their percentage ownership without them putting in money directly.

[fidra] 27/12/2023 13:26

Thank you for those figures Stentorian

[stentorian] 27/12/2023 13:15

Argentina Interest Watch (Day 103 - Post-Judgment Day)

Description Petersen Eton Park Total

Total Damages 14,385,449,737 1,714,338,556 16,099,788,293

Post Judgment Int. (Days 1-103) 220,022,498 26,220,456 246,242,954

Revised Total Damages 14,605,472,235 1,740,559,012 16,346,031,247

Burford Share Post Judgment Int (Days 1-103) - - US$ 96,034,752

Burford Share Revised Total Damages - - US $6,374,952,186

BUR receive 35% of Petersen and 73% of Eton Place approx 39% of the Total. Please forgive minor rounding errors. All sums in US$. As at 26/12/2023.

[donald pond] 27/12/2023 13:10

Once money starts coming in from Argentina I'd like at least a third of it spent on buying back shares. That would be hugely accretive.

[djderry] 27/12/2023 13:05

Market completely underestimating and mis-pricing today's news.( not complaining,just noting,after all my Bur shareholding is having another six digit uplift day and states haven't opened yet).For the first time since 2012,the recalcitrant defendant has,belatedly,expressed a willingness to pay compensation.All the tripe that's been spouted,' Argentina will never pay,you'll never collect,you'll get paid in pesos,etc,etc ' is confined to the dustbin,or is it the ether.Real politik is seeing the light.The signal has been sent.The stars (ie,the IMF,World Bank,etc)will now align.Investors now know Argentina want to play ball.I think we might just facilitate that.

[fidra] 27/12/2023 12:36

That’s a good uplift from here .

Thanks

[extrader] 27/12/2023 12:35

Seb's latest

.."It is the first time since the beginning of the YPF trial that a Government shows intention to change the legal strategy. I applaud it.

I understand the responsibility of our leaders to exhaust all legal avenues and not close agreements without first having a final ruling. But this strategy has led us to lose 9 out of 10 trials and pay close to USD 17 billion. Repsol, Holdouts, ICSID, etc.

I do not question the professionalism of the lawyers who represent us and represented us since they have had to defend cases that were (and are) difficult to defend.

I only express the need to save USD 1.2 billion each year in interest and legal costs by defending cases that, 9 out of 10 times, we lose.

Today, significant discounts can be negotiated with judgment beneficiaries. With each passing day, those discounts will be exponentially smaller and, as taxpayers, we will have to pay them as we have already paid.

It is time to close each of these trials...."

Amen to that.

[futurekid] 27/12/2023 12:23

c$6bn.. More than the current market value.

[fidra] 27/12/2023 12:05

How much is the full payout worth to BUR ,please?

[1aconic] 27/12/2023 11:35

On the SWF question, I'm pretty sure it's a ME country too. There was a note when the percentages paid from SWF and balance sheet were modified. An exception was noted in the case where a deal wasn't in accordance with sharia law - in that situation the SWF fund wouldn't participate.

[this tea tastes of chicken] 27/12/2023 10:30

His language suggests a desire to ensure that taxpayers in Argentine have no doubt what the source of the liability was.

Is this to strengthen the right wings position politically and sideline the peronistas in perpetuity or a reach out to 'interested parties' to participate in a bond? Genuine question as this is a proclamation I was not expecting.

[extrader] 27/12/2023 10:30

From the link

.."Milei said the current IMF deal has collapsed because the previous government missed key targets agreed upon with the Fund, and added that his austerity-driven administration is working to reset the program.

“The Fund sees us as heroes,” he said. “We’re working to comply with the agreement.”

'How to win friends and influence people'.

GLA

[gettingrichslow] 27/12/2023 09:51

Wait until the US opens!

[nigelpm] 27/12/2023 09:45

I'd add it wouldn't be the first time.

[nigelpm] 27/12/2023 09:44

Market must think he's on the wind up - only logical explanation for very muted share price.

[lomax99] 27/12/2023 09:25

USD please lol

[gettingrichslow] 27/12/2023 09:24

“We have the willingness to pay” are the exact words the market wants to hear! Lift off this afternoon?

[tnt99] 27/12/2023 09:24

16billion!!!!!

[donald pond] 27/12/2023 09:19

I bought shares and a spreadbet at 1080 today. Crazy opportunity What I am most interested in is the US reaction. But the share price hit £14 on news of the victory over Arg. Since then the prospects of getting paid have improved considerably.

[purplepelmets] 27/12/2023 09:12

Delayed reaction

[tnt99] 27/12/2023 09:12

Here we go to a real valuation over 20 pounds

[gusrezo] 27/12/2023 09:06

Milei: "“Here we have a problem because we don’t have the money, we don’t have $16 billion, that’s the reality — but we have the willingness to pay,” he said in a TV interview with La Nacion Tuesday night. “What we’re going to do, it’s an idea we’re working on, is to create the Kicillof tax, meaning pay this fund with a perpetual bond.”"