Litigation Capital Manag... Share Discussion Threads

[goforgold1] 27/7/2023 11:55

Take a look here. Interesting . 50% held by company. .Great Southern Copper identifies high-grade copper. GSCU . High-Grade Cu in Rock Chip Samples up to 3.39% Cu from Abundante Mine Prospect. .4 million market cap 10 million give you 5p easy.

[someuwin] 27/7/2023 11:52

Divi to be announced with results currently equal to 2.65%

[luweiluwei] 27/7/2023 10:20

"they" are good riddance.
Hope they stay away and that the shareholder base in this company is one that knows what they've invested in.

[someuwin] 27/7/2023 10:08

I see this as a very positive hint...

"As the CEO, I am looking forward to discussing our performance in detail when we release our full year results."

[chucko1] 27/7/2023 09:28

Contrary to what I thought might be the case yesterday afternoon, there was no single large panic sale, but merely a lot of AT trades and some 50k "get me out of here" trades.

They (who are "they", I wonder) say it's better to be safe than sorry, but I would not want to be the junior portfolio manager explaining why I panicked in the face of the then (and certainly now post-management-statement) available information.

[citywolf1] 27/7/2023 09:16

Indeed @riverman77. We went from almost touching 100p to having a bid in the 60s yesterday, over nothing!

My theory as to why we got hit but no one else did is that our name may have been the issue here. The market/algos maybe saw the news and saw a small stock "Litigation Capital Management" and thought aha these guys must be cooked! Unless there was a big holder who panicked, but feels less likely as a big holder should know the deal here

[74tom] 27/7/2023 08:20

100% agree Riverman77, the most disconcerting part of yesterday was the volume & frequency of the selling. Once support at 80p broke it was hard to ignore. As it transpires this looks to be a major positive for us as it will cause competitors all sorts of problems. Time to switch off until final results in September when I suspect we will trade significantly higher.

[someuwin] 27/7/2023 08:16

Added another big chunk

[ntv] 27/7/2023 07:49

A very clear response from LIT this morning
I am guessing this was picked on by a group of shorters yesterday so presume this is going to be very volatile whilst they are about

[nchanning] 27/7/2023 07:29

Guess somebody smart was buying 5 million shares yesterday but took me beyond 430 to get the confidence this wasn't a problem for LIT, having been kicked in the nuts once before by Burford

[someuwin] 27/7/2023 07:10

Perfect response. No downside to LIT and maybe even a positive.

"The decision neither came as a surprise nor does it pose a risk to LCM's current investments or its business model. As stated above, we welcome this as a potential positive differentiator."

[jackson83] 27/7/2023 02:34

WE could all see it coming

[williamcooper104] 26/7/2023 22:06

Small market cap so guess one or two larger shareholders panicked I've been out of LIT recently - got bored - will see if can grab some tomorrow In any rational market there ought to be a big gap up

[wolstencroft] 26/7/2023 20:24

I hope I can buy a few more before the share price recovers.

GLTA

[boozey] 26/7/2023 20:19

I always had LIT as a bit of a dead cert based on their business model which was rather foolish since there is no such thing as a sure bet in the stock market and today’s carnage was a good lesson on that point. Really bizarre how LIT was so hard hit by this ruling and no other company in the sector was affected. I am sure the company will make some form of announcement at 7am tomorrow morning to explain the situation to calm nerves. If they don’t that would be rather worrying.

[ntv] 26/7/2023 19:42

Thanks johnwig
It would be nice of the company to give us their thoughts before the mkt opens in the morning

[wisecat2] 26/7/2023 19:37

How much business do they do in the uk and forecasts going forward please

[warno01] 26/7/2023 18:33

Bought a very helpful 5000 extra shares at 75p. More dividend. Shock to the system, but the underlying business is growing rapidly. Limited impact on business in short term as per Maloney's comments. Anticipate seeing this back up to 87-88p tomorrow

[williamcooper104] 26/7/2023 17:54

Thanks Should gap up at the open

[citywolf1] 26/7/2023 17:45

Time to load up at the open it would seem

[citywolf1] 26/7/2023 17:42

Don’t worry guys. Patrick is on it: In LCM's Investor Meet Company presentation on 14 March, the following question was asked:

"It has been reported that Britain’s litigation funding industry faces “seismic consequences” if an appeal over funding agreements is allowed by the United Kingdom’s Supreme Court - what are the risks to LCM’s UK investments both directly funded and via either fund? Have you reported any information on how this case may affect LCM's business to private investors and/or other investors who participate in the funds?"

Patrick Moloney's response was as follows (my audio transcription):

"In answer to that question, there has been a challenge in the high court here in the United Kingdom with respect to whether litigation funding arrangements constitute damages based fee arrangements and are therefore caught by the legislation which governs solicitors providing those types of services. Now, the advice that we have received in and around that challenge is that it relates to that portion of the underlying funding agreement whereby the litigation financier is paid a percentage of the outcome of the pool of capital that is created as distinct from being remunerated on a multiple of invested capital. Therefore, the majority if not all of our litigation funding arrangements which have been entered into in the UK market are all based around a remuneration and return mechanism for LCM based on a multiple of invested capital. So, we're not concerned in relation to this challenge. The challenge is yet to be determined and is in early stage in terms of going through the court system, but as I say, we're not concerned about that because it really doesn't reflect the way that LCM structures its underlying litigation funding agreements. So, in answer to the final part of that question - have we reported that to the market or those who have invested in our funds management business - the answer is no because we don't perceive that as a risk."