Litigation Capital Manag... Share Discussion Threads

[ped2323] 17/12/2021 09:33

I hope LIT will release some good news to the market in the next few weeks regarding case resolution. We know they have plenty of mature cases on their books and hopefully they know some of these are very close to resolution. Rowles-Davies likely to sell any of his own shares that he can, so also hope LIT have an institution lined up to mop these up. Or can LIT buy back these shares?

[brileyloucan] 17/12/2021 09:23

bought to maintain as largest holding - added nearly 50K shares. A hit to share price clearly justified but 16% seems overdone especially given recent 20% fall from near-term high.

Shocking week though as Boohoo now down to position number 10.

[typo56] 17/12/2021 09:21

Those 4.9m shares are under the Joint Share Ownership Plan which are "subject to various vesting and performance conditions". Does that mean he already owns them, or could potentially own them subject to meeting those conditions?

[sambessey] 17/12/2021 09:20

What a buying opp!

[theprovosts] 17/12/2021 09:18

Buy limits starting to reduce. INV were selling blocks of 50, which i took one of. Now they only letting you buy 15. Solid hold in a growing industry, thanks bedwetters (one or two institutional holders selling the lows). I do applaud the buying power of retail, from my experience it is they who buy the dips.

[nigelmoat] 17/12/2021 09:08

Great top up opportunity imo - added. A blip in a good business model.

[purplepelmets] 17/12/2021 09:05

He had 4.9m shares (just over 4% of total) as of March this year.

[typo56] 17/12/2021 09:03

What are Rowles-Davies holdings in LIT? Perhaps he's a forced seller today?

[greenknight1] 17/12/2021 08:46

Personally I think this is a brilliant topup opportunity

[dagoberia] 17/12/2021 08:45

Don't they all know each other in the legal sphere? I can't imagine it would be too hard to replace him

[riverman77] 17/12/2021 08:32

Hmmm... I wonder if there was some sort of power struggle going on and they used this as a convenient excuse to force him out. Let's face it, they could probably have brushed this under the carpet if they really wanted to keep him.

[bigalan3] 17/12/2021 08:22

The drop is far overdone. Could not resist yet more.
The market usually forgets in about 3 days.

[joe say] 17/12/2021 08:15

Just read his bio - a history at Burford Capital and they've continued to thrive so whilst I acknowledge he brought some talent and contacts to the table I would have thought that colleagues (sorry ex-colleagues) would have picked up some of those along the way.

I personally invested in the business model, not the business person

[mighunter] 17/12/2021 08:15

Patrick Moloney already established to relocate to London from a while back.

[stockstockham] 17/12/2021 08:10

Good that they discovered it, and "not material to LCM's financial condition and performance", but how long had it been going on, who leads the London office now, and should they perhaps contact a litigation funder to try to recover some of the money..

More to this story than they've RNS'd I bet.

[jonwig] 17/12/2021 08:07

LOL - how far back do you want to go? (And I guess Kylie Minogue can escape the stigma.)

[joe say] 17/12/2021 08:04

Jonwig - so were the first lot of prisoners!

[jonwig] 17/12/2021 08:01

Joe Say - he is British, I believe, and founded Vannin Capital before being hired by LIT to bring experience and introduce LIT to the UK funding market. (His bio is still on the website.)

Whilst the amounts involved may not be material, his value to the firm probably was, very.

[joe say] 17/12/2021 07:57

The decision to terminate Mr. Rowles-Davies' employment follows the identification of certain expenses claims which have been made in contravention of LCM's Global Expense Guidelines and Policy.

[purplepelmets] 17/12/2021 07:48

must learn to properly read full RNS's. Thanks Joe.

[djderry] 17/12/2021 07:07

Alleged ' gross misconduct' against senior executive.I presume litigation will follow.This allegation relates to,basically,their second most senior executive, leading the London office.

[robsy2] 17/12/2021 07:07

Bloody hell! That is a shock.might be a good time to top-up?

[purplepelmets] 17/12/2021 07:04

Oh boy this is one painful RNS. I thought these things were written to show things in the best light possible? Well, looking on the bright side I did want to top up in the low 70s.