NEW
YORK, Aug. 5, 2024 /PRNewswire/ -- Burford
Capital Limited ("Burford"), the leading global finance and asset
management firm focused on law, today announces that effective
January 1, 2025, it will become a US
domestic issuer after determining that Burford's US ownership
exceeds 50% of its issued and outstanding ordinary shares as of
June 30, 2024. As a result, Buford
will no longer qualify as a "foreign private issuer", as defined
under the US Securities Act of 1934, as amended. As a US domestic
issuer, Burford will be required, among other things, to file
annual reports on Form 10-K, quarterly reports on Form 10-Q and
current reports on Form 8-K with the US Securities and Exchange
Commission and to comply with US proxy requirements and Regulation
FD.
This is the culmination of more than five years of planning and
methodical steps towards this end result, which Burford believes
maximizes its investability in the US public market, the world's
largest. Along the way, after listing on the New York Stock
Exchange in October 2020, Burford has
implemented US generally accepted accounting principles, adopted a
quarterly versus semi-annual reporting cadence and been added to
the Russell 3000® and 2000® Indexes, among other interim steps
leading to this outcome.
This development has no impact on the status of Burford's
ordinary shares, which will continue to be fully dual-listed on
both the New York Stock Exchange and the London Stock Exchange.
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.
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SOURCE Burford Capital