Litigation Capital Management Ltd Incentive Awards
15 Ottobre 2020 - 11:30AM
UK Regulatory (RNS & others)
TIDMLIT
RNS Number : 2037C
Litigation Capital Management Ltd
15 October 2020
15 October 2020
Litigation Capital Management Limited
("LCM" or the "Company")
Incentive Awards
Litigation Capital Management Limited (AIM:LIT), an alternative
asset manager specialising in dispute financing solutions
internationally, announces that it has granted a number of
incentive awards to employees of the Company in the form of shares
to be issued pursuant to the LCM Loan Share Plan.
The following table details the quantum of awards granted and
the recipients. Subject to the terms of the LCM Loan Share Plan,
participants may nominate another person to be issued the
awards.
Employee Position Incentive Number of
scheme shares awarded
Chief Executive
Patrick Moloney Officer LSP 291,597
================= =========== ================
Non-PDMR Employees Various LSP 324,923
================= =========== ================
LCM Loan Share Plan ("LSP")
The Company has in place a LSP. Ordinary Shares issued to
recipients under the LSP ("LSP Shares") generally rank equally with
all existing shares from the date of issue.
The LSP Shares are issued to the recipient at market value and
due to the vesting conditions attached to them (e.g. continuous
employment conditions and share price hurdles) represent a share
based payment arrangement.
The LSP awards, unless stated otherwise, will vest over a three
year period in four equal tranches from the date of issue. In
addition, the LSP awards are subject to malus and clawback
provisions. The awards vests in full in the event of a change of
control at any time.
Application will be made for the 616,520 ordinary shares to be
admitted to trading on AIM. It is expected that admission will take
place on 23 October 2020. Following the allotment and issue, the
Company's issued share capital consists of 115,654,666 ordinary
shares. The Company does not hold any shares in Treasury, as such
the total number of shares in issue with voting rights is
115,654,666.
The above figure of 115,654,666 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, or a change to
their interest in, the Company under the Financial Conduct
Authority's Disclosure Guidance and Transparency Rules.
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
Justine James LCM@almapr.co.uk
Rebecca Sanders-Hewett
Susie Hudson
Kieran Breheny
NOTES TO EDITORS
Litigation Capital Management (LCM) is an alternate 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 revenue 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
The following notifications are intended to satisfy the
Company's obligations under Article 19(3) of EU Regulation No
596/2014 (the Market Abuse Regulation).
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
1. Details of the Person discharging managerial responsibilities
("PDMR") / person closely associated with them ("PCA")
a) Name Patrick John Moloney
------------------------------ -----------------------------------------
2. Reason for the notification
-------------------------------------------------------------------------
a) Position / status Executive Director
------------------------------ -----------------------------------------
b) Initial notification Initial notification
/ amendment
------------------------------ -----------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
a) Name Litigation Capital Management Limited
------------------------------ -----------------------------------------
b) Legal Entity Identifier 213800J2B5SI8F515244
------------------------------ -----------------------------------------
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 Ordinary Shares
financial instrument
------------------------------ -----------------------------------------
b) Nature of the transaction Interest in Ordinary Shares under a Loan
Share Plan
------------------------------ -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
66.55 pence 291,597
----------
------------------------------ -----------------------------------------
d) Aggregated information
* Aggregated volume N/A - single transaction
* Aggregated price
* Aggregated total
------------------------------ -----------------------------------------
e) Date of the transaction 13 October 2020 (UK)
------------------------------ -----------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------ -----------------------------------------
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END
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October 15, 2020 05:30 ET (09:30 GMT)
