Litigation Capital Management Ltd Conclusion of Joint Venture Arrangement (1634K)
20 Aprile 2020 - 08:00AM
UK Regulatory
TIDMLIT
RNS Number : 1634K
Litigation Capital Management Ltd
20 April 2020
20 April 2020
Litigation Capital Management Limited
(LCM or the Company)
Conclusion of Joint Venture Arrangement
Litigation Capital Management Limited (AIM:LIT), a leading
international provider of disputes financing solutions, announces
the conclusion of its Joint Venture Arrangement (JVA or
Arrangement) with Vannin Capital Limited (Vannin) and associated
profit of A$2.45 million.
In 2013, LCM entered into a JVA with Vannin. That JVA involved
LCM sourcing, negotiating and managing through to completion
various litigation finance investments, all within Australia.
Vannin supplied the capital associated with the Arrangement. In
March 2015, the Arrangement went into runoff.
Whilst in runoff, certain disputes arose between the parties as
to their entitlements. As part of the final resolution of those
disputes, LCM will receive profits totalling A$2.45 million,
contributing to LCM's gross profit for the current financial year.
The JVA has now been concluded by all interested parties.
Patrick Moloney, CEO of LCM, commented : "We are very pleased to
have come to a final resolution of the Joint Venture Arrangement,
the amount received from which, exceeds our expectations."
Enquiries
Litigation Capital Management c/o Alma PR
Patrick Moloney, Chief Executive
Officer
Canaccord (Nomad and Joint Tel: 020 7523 8000
Broker)
Bobbie Hilliam
Investec Bank plc (Joint Broker) Tel: 020 7597 5970
David Anderson
Alma PR Tel: 020 3405 0205
Rebecca Sanders-Hewett LCM@almapr.co.uk
Justine James
David Ison
NOTES TO EDITORS
Litigation Capital Management (LCM) is a global provider of
disputes finance which operates two business models. The first is
direct investments made from LCM's permanent balance sheet capital
and the second is fund and/or asset management. Under those two
business models, LCM currently pursues three investment strategies:
Single-case funding, Corporate portfolio funding and Acquisitions
of claims. LCM generates its revenue from both its direct
investments and also performance fees through asset management.
LCM has an unparalleled track record, driven by effective
project selection, active project management and robust risk
management.
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
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
JVEIMMATMTATMIM
(END) Dow Jones Newswires
April 20, 2020 02:00 ET (06:00 GMT)
Grafico Azioni Litigation Capital Manag... (LSE:LIT)
Storico
Da Feb 2024 a Mar 2024
Grafico Azioni Litigation Capital Manag... (LSE:LIT)
Storico
Da Mar 2023 a Mar 2024