RBG Holdings PLC Settlement of Project Blue Sky
06 Gennaio 2020 - 8:00AM
RNS Non-Regulatory
TIDMRBGP
RBG Holdings PLC
06 January 2020
6 January 2020
RBG Holdings plc
(the "Company" or the "Group")
Settlement of Project Blue Sky
RBG Holdings plc, the professional services group, is pleased to
announce the pre-trial settlement of Project Blue Sky, one of its
internally funded litigation cases. Project Blue Sky was a
damages-based agreement for a shareholder dispute case. The parties
have agreed to a settlement just over a year since the claim was
filed, and a year earlier than the scheduled trial at the end of
2020. This has therefore enhanced the Group's Internal Rate of
Return (IRR) on the investment.
As well as acting for the claimant, the Group also part-financed
the case in line with its strategy. The return on the Company's
investment in the case, in terms of cash and time, was 184% with an
IRR of 317%. Project Blue Sky is the Company's smallest self-funded
litigation case, and the Group has invested GBP2.5million in 11
other cases which are yet to conclude.
The settlement, while not material in terms of the Group's
forecast full-year financial results, is, however, the first
successful completion of a case that the Group has invested in
since its flotation in May 2018. It demonstrates the significant
returns that can be achieved through the Group's litigation finance
strategy.
Enquiries:
RBG Holdings plc Via Newgate Communications
Nicola Foulston, CEO
Stifel (Nominated Adviser and Broker) Tel: +44 (0)20 7710 7600
Gareth Hunt
Stewart Wallace (QE)
Tom Marsh
Newgate Communications (for media enquiries) Tel: +44 (0)20 3757 6880;
Robin Tozer/Tom Carnegie rosenblatt@newgatecomms.com
About RBG Holdings plc
RBG Holdings plc is a professional services group, which
includes one of the UK's pioneering law firms, Rosenblatt Limited,
which is a leader in dispute resolution.
Rosenblatt Limited provides a range of legal services to its
diversified client base, which includes companies, banks,
entrepreneurs and individuals. Complementing this is the Company's
increasingly international footprint, advising on complex
cross-jurisdictional matters. Rosenblatt Limited's practice areas
include dispute resolution, financial crime, corporate, banking and
finance, insolvency and financial restructuring, construction and
projects, employment, financial services, IP/technology/media, real
estate, regulatory and tax resolution. The Group also provides
litigation finance in selected cases through a separate arm.
The Group also owns Convex Capital Limited, a specialist
sell-side corporate finance boutique, based in Manchester, UK.
Convex is entirely focussed on helping companies, particularly
owner-managed and entrepreneurial businesses, realise their value
through sales to large corporates. Convex identifies and
proactively targets firms that it believes represent attractive
acquisition opportunities.
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END
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