Litigation Capital Management Ltd Transaction in Own Shares

RNS Number : 9385P

Litigation Capital Management Ltd

28 May 2024

 

28 May 2024

Litigation Capital Management Limited

("LIT", the "Company" or the "Group")

Transaction in Own Shares

 

The Company announces that Canaccord Genuity Limited ("Canaccord") has made the following purchases of ordinary shares of no par value in the capital of the Company ("Ordinary Shares"), on its behalf on the London Stock Exchange, pursuant to the Share Buyback Programme announced on 5 October 2023.

Date of purchase	24 May 2024
Number of Ordinary Shares purchased (aggregated volume):	23,000
Highest Price paid per Ordinary Share (p):	111.50
Lowest Price paid per Ordinary Share (p):	111.50
Volume Weighted Average Price paid per Ordinary Share (p):	111.50
Venue where Ordinary Shares are traded	London Stock Exchange (AIM)

Canaccord holds the repurchased shares on behalf of the Company. Following the purchase, the number of Ordinary Shares in issue and admitted to trading on AIM will be 116,687,709 excluding shares held by Canaccord (being the "Total Share Capital"). Canaccord on behalf of the Company will hold 2,512,623 ordinary shares, representing approximately 2.15% per cent of the Total Share Capital.

 

This figure of 116,687,709 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

 

The Company and Canaccord will make further announcements in due course following the completion of any further purchases pursuant to the Share Buyback Programme.

In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation), the schedule below contains detailed information about the purchases made by Canaccord on behalf of the Company.

Individual transactions:

Number of shares purchased	Transaction price (pence per share)	Time of transaction	Trading venue
9,300	111.50	16:35:23	London Stock Exchange
3,604	111.50	16:35:23	London Stock Exchange
10,095	111.50	16:35:23	London Stock Exchange
1	111.50	16:35:23	London Stock Exchange

 

Enquiries

 

Litigation Capital Management	c/o Tavistock
Patrick Moloney, Chief Executive Officer Mary Gangemi, Chief Financial Officer
Canaccord (Nomad and Joint Broker)	Tel: [phone]
Bobbie Hilliam / Alex Orr
Investec Bank plc (Joint Broker)	Tel: [phone]
David Anderson
Tavistock (PR and IR)	Tel: [phone]
Tim Pearson Katie Hopkins	[e-mail]

 

NOTES TO EDITORS

Litigation Capital Management (LCM) is an alternative asset manager specialising in disputes financing solutions internationally, which operates two business models. The first is direct investments made from LCM's permanent balance sheet capital and the second is third party fund management. Under those two business models, LCM currently pursues three investment strategies: Single-case funding, Portfolio funding and Acquisitions of claims. LCM generates its income from both its direct investments and also performance fees through asset management.

 

LCM has an unparalleled track record driven by disciplined project selection and robust risk management. Currently headquartered in Sydney, with offices in London, Singapore, Brisbane and Melbourne, LCM listed on AIM in December 2018, trading under the ticker LIT.

 

www.lcmfinance.com

  

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