TIDMLIT

RNS Number : 6210X

Litigation Capital Management Ltd

20 December 2019

20 December 2019

Litigation Capital Management Limited

("LCM" or the "Company")

Case Investment Settlement Update

Litigation Capital Management Limited (AIM:LIT), a leading international provider of litigation financing solutions, announces the resolution of two single-case investments:

The first is the resolution of a claim which was pursued in the Supreme Court of Queensland in Australia. The claim has been resolved through negotiation. The resolution will generate revenue to LCM this financial period of approximately A$6.45m, and contribution to gross profit of approximately A$2m.

The second is the resolution of a claim which was pursued in the Supreme Court of New South Wales in Australia. That claim also resolved through negotiation. The resolution of that investment will generate revenue of approximately A$4m, and contribution to gross profit of not less than A$2.5m.

The funds from the above resolutions will be received during the current financial year.

Patrick Moloney, CEO of LCM said: "We are pleased to update the market with the resolution of these two single-case investments. Single-case investments have been a fundamental part of our stringent business model since LCM's inception and the settlement of these respective disputes reinforces the ongoing opportunity and demand for investment in such cases.

"Our robust investment strategy remains a core part of our model and demonstrates the large and diverse investment opportunities within the Company."

CONTACTS

 
 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 
 Susie Hudson 
 Jessica Joynson

NOTES TO EDITORS

About LCM:

Litigation Capital Management ("LCM") is a leading international provider of litigation financing solutions. This includes single-case and portfolios across; class actions, commercial claims, claims arising out of insolvency and international arbitration. 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.

LCM Investment Strategies

LCM operates three principal investment strategies:

Single-case strategy - involves investing in single disputes.

Acquisition strategy - involves the acquisition or taking an assignment of causes of action. LCM pursues that strategy by acquiring the dispute and pursues it as principal.

Portfolio funding - involves LCM providing a financing and risk management solution to large and sophisticated corporate clients, which will include a number of cases at any given time. Portfolio funding is a relatively new strategy to the industry and LCM leads the market in this space.

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

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