NEW
YORK, June 28, 2024 /PRNewswire/ -- Burford
Capital Limited ("Burford"), the leading global finance and asset
management firm focused on law, provides the following
notifications of various transactions in connection with the
Burford Capital 2016 Long Term Incentive Plan (the "LTIP").
Issuance of New Ordinary Shares in Connection with
LTIP
In connection with the LTIP, on June 26,
2024, Burford has issued 24,909 new ordinary shares, no par
value per share ("Shares"), to satisfy the vesting of restricted
stock units pursuant to the realization of awards under the LTIP on
June 21, 2024.
Application will be made for these 24,909 new Shares to be
admitted to trading on the AIM market of the London Stock Exchange
plc. The expected date of admission is July
4, 2024. These 24,909 new Shares will also be listed on the
New York Stock Exchange.
Following the issuance of these new Shares, the Company's issued
ordinary share capital is 220,082,694, of which 669,947 Shares are
held in treasury and do not have any voting rights. Therefore, the
total number of voting rights in the Company, excluding treasury
shares, will be 219,412,747 after giving effect to this issuance of
new Shares. This figure for the total number of voting rights may
be used by shareholders as the denominator for the calculations by
which they will determine if they are required to notify their
interest in the Company under the FCA's Disclosure Guidance and
Transparency Rules.
Adjustment of Previously Awarded, Unvested LTIP
Shares
On March 22, 2024, new grants of
unvested Shares (50% of which are subject to performance
conditions) were made to members of Burford's management committee
under the LTIP as part of Burford's usual annual compensation
cycle. The grants to Burford's Chief Executive Officer,
Christopher Bogart, and Burford's
Chief Investment Officer, Jonathan
Molot, are made formulaically and a review of the grant
computation following the release of our year-end financials
resulted in an adjustment, reducing the grant of unvested shares by
32,043 unvested Shares each. The Notification of Dealing Forms for
the adjustment are included at the end of this announcement.
About Burford Capital
Burford Capital is the leading global finance and asset
management firm focused on law. Its businesses include litigation
finance and risk management, asset recovery and a wide range
of legal finance and advisory activities. Burford is publicly
traded on the New York Stock Exchange (NYSE: BUR) and the London
Stock Exchange (LSE: BUR), and it works with companies and law
firms around the world from its offices in New York, London, Chicago, Washington,
DC, Singapore,
Dubai, Sydney and Hong
Kong.
For more information, please visit www.burfordcapital.com.
This announcement does not constitute an offer to sell or the
solicitation of an offer to buy any ordinary shares or other
securities of Burford.
This announcement does not constitute an offer of any Burford
private fund. Burford Capital Investment Management LLC, which
acts as the fund manager of all Burford private funds, is
registered as an investment adviser with the US Securities and
Exchange Commission. The information provided in this announcement
is for informational purposes only. Past performance is not
indicative of future results. The information contained in this
announcement is not, and should not be construed as, an offer to
sell or the solicitation of an offer to buy any securities
(including, without limitation, interests or shares in any of
Burford private funds). Any such offer or solicitation may be made
only by means of a final confidential private placement memorandum
and other offering documents.
Forward-looking statements
This announcement contains "forward-looking statements" within
the meaning of Section 21E of the US Securities Exchange Act of
1934, as amended, regarding assumptions, expectations, projections,
intentions and beliefs about future events. These statements are
intended as "forward-looking statements". In some cases,
predictive, future-tense or forward-looking words such as "aim",
"anticipate", "believe", "continue", "could", "estimate", "expect",
"forecast", "guidance", "intend", "may", "plan", "potential",
"predict", "projected", "should" or "will" or the negative of such
terms or other comparable terminology are intended to identify
forward-looking statements, but are not the exclusive means of
identifying such statements. In addition, Burford and its
representatives may from time to time make other oral or written
statements that are forward-looking, including in its periodic
reports that Burford files with, or furnishes to, the
US Securities and Exchange Commission, other information made
available to Burford's security holders and other written
materials. By their nature, forward-looking statements involve
known and unknown risks, uncertainties and other factors because
they relate to events and depend on circumstances that may or may
not occur in the future. Burford cautions that forward-looking
statements are not guarantees of future performance and are based
on numerous assumptions, expectations, projections, intentions and
beliefs and that Burford's actual results of operations,
including its financial position and liquidity, and the development
of the industry in which it operates, may differ materially from
(and be more negative than) those made in, or suggested by, the
forward-looking statements contained in this announcement.
Significant factors that may cause actual results to differ from
those Burford expects include, among others, those discussed under
"Risk Factors" in Burford's annual report on Form 20-F for the year
ended December 31, 2023 filed with
the US Securities and Exchange Commission on March 28, 2024 and other reports or documents
that Burford files with, or furnishes to, the US Securities
and Exchange Commission from time to time. In addition, even if
Burford's results of operations, including its financial position
and liquidity, and the development of the industry in which it
operates are consistent with the forward-looking statements
contained in this announcement, those results of operations or
developments may not be indicative of results of operations or
developments in subsequent periods.
Except as required by law, Burford undertakes no obligation to
update or revise the forward-looking statements contained in this
announcement, whether as a result of new information, future events
or otherwise.
|
1
|
Details of the
person discharging managerial responsibilities/person closely
associated
|
|
(a)
Name
|
Christopher
Bogart
|
|
2
|
Reason for the
notification
|
|
|
(a)
Position/status
|
A PDMR occupying the
position of Chief Executive Officer
|
|
(b)
Initial notification /Amendment
|
Initial
|
|
3
|
Details of the
issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
|
|
(a)
Name
|
Burford Capital
Limited
|
|
(b)
LEI
|
549300FUKUWFYJMT2277
|
|
4
|
Details of the
transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and
(iv) each place where transactions have been
conducted
|
|
(a)
Description of the financial instrument, type of
instrument
|
Ordinary Shares of nil
par value
|
|
Identification code
|
GG00BMGYLN96
|
|
(b)
Nature of the transaction
|
Cancellation of shares
awards under the Burford Capital 2016 Long Term Incentive
Plan
|
|
(c)
Price(s)and volume(s)
|
Price(s)
|
Volume(s)
|
|
$0
|
32,043
|
|
|
|
(d)
Aggregated information
•
Aggregated volume
•
Price
|
N/A
|
|
(e)
Date of the transaction
|
June 25,
2024
|
|
(f)
Place of the transaction
|
Outside a trading
venue
|
|
1
|
Details of the
person discharging managerial responsibilities/person closely
associated
|
|
(a)
Name
|
Jonathan
Molot
|
|
2
|
Reason for the
notification
|
|
|
(a)
Position/status
|
A PDMR occupying the
position of Chief Investment Officer
|
|
(b)
Initial notification /Amendment
|
Initial
|
|
3
|
Details of the
issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
|
|
(a)
Name
|
Burford Capital
Limited
|
|
(b)
LEI
|
549300FUKUWFYJMT2277
|
|
4
|
Details of the
transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and
(iv) each place where transactions have been
conducted
|
|
(a)
Description of the financial instrument, type of
instrument
|
Ordinary Shares of nil
par value
|
|
Identification code
|
GG00BMGYLN96
|
|
(b)
Nature of the transaction
|
Cancellation of shares
awards under the Burford Capital 2016 Long Term Incentive
Plan
|
|
(c)
Price(s)and volume(s)
|
Price(s)
|
Volume(s)
|
|
$0
|
32,043
|
|
|
|
(d)
Aggregated information
•
Aggregated volume
•
Price
|
N/A
|
|
(e)
Date of the transaction
|
June 25,
2024
|
|
(f)
Place of the transaction
|
Outside a trading
venue
|
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SOURCE Burford Capital