Litigation Capital Manag... Share Discussion Threads

[jonwig] 21/12/2018 13:37

Significant Holdings Total 108,687,929 shares

Miton Group ............... 14,470,019 12.8%
River & Merc ................6,000,000. 5.3%
Diverse Income Trust ....... 3,341,309. 3.0%

Admission Document:

[mctmct] 21/12/2018 10:58

Tightfist, There's MANO too, which recently IPOed in the same business as LIT and BUR.

[tightfist] 21/12/2018 10:30

In the very distant past I was actually an investor in "Litcomp on OFEX"! There will be endless confusion and the new LIT company deserves a new thread?I am heavily into Burford and will remain so, but it's RoI and growth combination are bound to gather attention; does this new listing (upstart?) IYHO warrant much attention?Cheers, tightfist

[iammiracleman] 21/12/2018 09:52

Thanks for the info.Would you like to start a new board which is appropriate for the stock?There may be a bit of interest from the audience.

[jonwig] 21/12/2018 09:44

If you look at the header, you'll see a reference to "Litcomp on OFEX". This was taken private in 2010:



The ADVFN reference to "Litigation Cap (LIT)" is an automated one, not provided by a user.

These are, therefore, two different companies. The new LIT transferred from ASX.

There's nothing to stop anyone from using this thread to discuss LIT, but the header and first 26 posts will make no sense, and you won't be able to insert charts.

[iammiracleman] 21/12/2018 09:26

Quite a positive start to life for this stock. Moved from the ASX to get greater liquidity and hoping to have the success to that of Burford over time.www.investegate.co.uk/litigation-cap--mgmt--lit-/rns/settlement-of-litigation-project/201812210701031812L/

[mctmct] 19/12/2018 15:36

I'm surprised you haven't filtered more stringently. The noise to data ratio on some of these lists is extraordinary.

The comments section on Stockopedia Small Cap Value Report is wonderful by comparison. Almost no idiocy and some really detailed forensic analysis.

[mctmct] 19/12/2018 11:17

Jonwig. Odd that it's the same full name and the same ticker. Are any of the directors the same?

[jonwig] 19/12/2018 10:02

mctmct - no, that's a transfer from ASX with new money. I guess this one has expired.

[mctmct] 19/12/2018 09:58

Is this the same LIT that listed on AIM today?

[mctmct] 19/12/2018 09:56

LIT listed on AIM today. Can someone fill me in on the happenings between 2009 and now?

[mr hangman] 24/9/2009 13:44

"The Board of Litcomp notes the recent rise in the Company's share price and announces that the Company is in advanced discussions with a potential offeror regarding a possible offer for the Company at 33 pence per share in cash.




No final agreement has been reached and so there can be no certainty as to whether an offer for the Company will or will not be made.




This anouncement is being made without the approval of the potential offeror.

[mr hangman] 24/9/2009 12:12

Down we go Down we go

[mr hangman] 12/1/2009 12:00

Well in that case, as they say in Dragons den, I'M OUT....

[anna faelten] 19/12/2008 13:51

New GECR note out on LIT

Litcomp Plc* – Interim Results: Maintain Buy Recommendation with 165p Target Price


Key Data

EPIC
LIN

Share Price
35.5p

Spread
33p – 38p

Total no of shares
6.0 million (14.6 million fully diluted)

Market Cap
£2.1 million (£5.2 million fully diluted)

12 Month Range
30.5p – 47.5p

Net Cash
£0.25 million

NMS
500

Market
AIM

Website
www.litcompplc

Sector
Specialty Finance

Contact
Jason Smart, CEO
[phone]

Litcomp, the provider of After the Event (ATE) insurance, medico-legal reports and litigation services, has today announced strong interim results, driven by an impressive performance from its After The Event (ATE) insurance business, Elite. In the 6 months to September 30th 2008 net profit before tax rose by 140% to £0.88 million, earnings per share doubled 100% to 9.2p and at the period end the company had net cash of £250,000.

Elite insurance produced further gross premium income and profit before tax growth with the former up 248% £14.5 million and the latter up by 91% to £1.48 million. The results show that the company expanded its business at the cost of margins, but that this was justified by an overall lower claims risk. New reinsurance treaties were negotiated from 1st of April and have increased the percentage of gross premium income retained which had a positive effect on some margins but increased Elite's exposure to claim liabilities. The company intends to use re-insurance and co-insurance to increase its underwriting capacity and cover new lines of business. Tighter capital and credit markets have constrained litigation funding and consequently up front premiums. While Elite's major commercial business pipeline remains robust, claimants are delaying litigation because of a lack of funding. The company expects this situation to ease in the New Year as new litigation funders have entered the market providing the finance to proceed with litigation.

The Medico-Legal Reporting business saw revenue grow by 8% over the corresponding 2007 period to £0.87 million, but failed to carry this growth through to the bottom line with the loss before tax up by 41% to £0.6 million. While Medico only comprises 5.7% of the group's turnover, Litcomp's directors are confident new business initiatives will continue to generate revenue growth.

Litcomp's remaining convertible note holders agreed at a special general meeting held on the 10th of December to extend their redemption until the 31st of October 2009. £2,615,700 worth of 10% Secured Convertible Loan Notes remain on issue and the extension provides more time for the company to refinance the notes in the new year. With each £1 in loan notes convertible into 3.3 ordinary shares, there is a potential dilution of 8,631,810 ordinary shares.

The increased revenue and profit in a difficult market shows that Litcomp has a robust and growing business. While the margins at profit driver Elite have contracted, the fact that profitable new business continues to be written is commendable. We are mindful of the potential dilution effect the conversion of the loan notes will bring, but were this to occur the majority of the company's debt would be wiped out and net cash would benefit at the expense of earnings per share. Despite this the company maintains a net cash position and a strong earnings base and with our 2009 and 2010 forecasts unchanged we continue to recommend the stock a buy with a target price of 165p.








Forecast Table

Year to 31st March
Sales (£ Million)
Pre-tax Profit (£ Million)
Earnings Per Share (p)
Fully Diluted EPS (p)
Price Earnings Ratio
Dividends Per Share (p)
Dividend Yield (%)

2007A
6.23
0.83
9.9
4.1
3.6
0
0.0

2008A
11.29
1.11
13.2
5.4
2.7
0
0.0

2009E
25.0
1.80
21.6
8.9
1.6
0
0.0

2010E
30.0
3.35
40.1
16.5
0.9
0
0.0



I should declare that LIT is a corporate client of Rivington Street Holdings, for whom I work.

Anna Faelten
Rivington Street Holdings

[tradx666] 19/1/2006 20:42

Anyone know what the latest is on this one? I see a bit of profit taking seems to be occuring..

regards

T..

[serratia] 14/12/2005 23:50

Held off as I couldn't analse their figures. You win some/miss some but will keep an eye on it

[tradx666] 14/12/2005 16:48

High Noon,

kicking myself with this one...thought about buying, but decided I would await their listing on AIM, purely on liquidity concerns!! DOH!!

Look forward to correcting my mistake after Xmas :-(

regards to all

T..

[high noon] 14/12/2005 16:32

The interims are due on 30th December and there has been heavy buying in the last few trading days.The share price is now up by 250% since the summer and the reasons are the acquisition,the involvement of Nigel Wray,the growth rate and the proposed move to Aim in January.The next few weeks will be most interesting for this stock and one suspects there may be some media coverage if the results and forecasts meet expectations.

[serratia] 11/10/2005 23:51

Has anyone given a forward forecast for LIT ?

[outsider] 07/10/2005 18:37

+40% today hopefully this should continue tomorrow.

[outsider] 07/10/2005 11:37

No probs :-)

[serratia] 07/10/2005 10:55

Outsider,

Thanks for the info

Serratia

[outsider] 07/10/2005 10:52

Sadly serratia those that have purchased the loan notes are high net worth individuals that probably have committed huge sums & it's all been done.

Any share purchased in the market will not qualify for EIS but does have tax advantages re CGT if held for 2 or three years, the same as AIM.


Hope this helps.