Burford Capital Limited Announces Completed Share Purchase by Employee Benefit Trust

Rhea-AI Summary

Burford Capital Limited announced on April 13, 2022, the purchase of 150,000 of its own ordinary shares by the Burford Capital Employee Benefit Trust (EBT). The purchases were executed in the open market over three days, with a total of 50,000 shares bought at an average price of 714.0631p per share. The shares will be used to fulfill obligations under the company’s 2016 Long Term Incentive Plan. This share buyback is significant as it showcases Burford’s commitment to managing employee benefits and may support stock price stability.

Positive

• Completed the purchase of 150,000 shares to satisfy employee incentive obligations.
• Shares purchased at an average price of 714.0631p, indicating a strategic financial decision.

Negative

• None.

GUERNSEY, / ACCESSWIRE / April 13, 2022 / Burford Capital Limited, the leading global finance and asset management firm focused on law, today announces that it was notified by the trustee of the Burford Capital Employee Benefit Trust (the "EBT") that it has completed the purchases in the open market of 150,000 of Burford's ordinary shares of nil par value ("Shares") in accordance with Burford's irrevocable instructions.

Details of the completed purchases of the Shares are set forth below:

Date	Stock Exchange	Number of Shares Acquired	Average Price Paid Per Share
April 8, 2022	LSE	50,000	719.9100p
April 11, 2022	LSE	49,580	712.8820p
April 12, 2022	LSE	50,420	709.4264p

The weighted average price of the purchases of the Shares on the London Stock Exchange was 714.0631p per Share.

As previously announced, the purchased Shares will be held by the trustee of the EBT and used to satisfy vested awards made under Burford Capital's 2016 Long Term Incentive Plan. The EBT is a discretionary trust for the benefit of the employees of Burford and its subsidiaries.

Further, Burford's other service providers are expected to continue purchasing the Shares on the open market up to the previously specified maximum number of the Shares to defray obligations under Burford's deferred compensation plan.

For further information, please contact:

Burford Capital Limited
Robert Bailhache, Head of Investor Relations, EMEA and Asia - email	+44 (0)20 3530 2023
Jim Ballan, Head of Investor Relations, Americas - email	+1 (646) 793 9176
Numis Securities Limited - NOMAD and Joint Broker	+44 (0)20 7260 1000
Giles Rolls
Charlie Farquhar
Jefferies International Limited - Joint Broker	+44 (0)20 7029 8000
Graham Davidson
Tony White

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 principal offices in New York, London, Chicago, Washington, DC, Singapore, Sydney and Hong Kong.

For more information, please visit www.burfordcapital.com.

This communication shall not constitute an offer to sell or the solicitation of an offer to buy any ordinary shares or other securities of Burford.

This release does not constitute an offer of any Burford fund. Burford Capital Investment Management LLC, which acts as the fund manager of all Burford funds, is registered as an investment adviser with the US Securities and Exchange Commission. The information provided herein is for informational purposes only. Past performance is not indicative of future results. The information contained herein 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 the 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, we and our representatives may from time to time make other oral or written statements which are forward-looking statements, including in our periodic reports that we file with, or furnish to, the US Securities and Exchange Commission, other information sent to our 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. We caution you that forward-looking statements are not guarantees of future performance and are based on numerous assumptions, expectations, projections, intentions and beliefs and that our actual results of operations, including our financial position and liquidity, and the development of the industry in which we operate, 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 we expect include those discussed under "Risk Factors" in our Annual Report on Form 20-F filed with the US Securities and Exchange Commission on March 29, 2022 and other reports or documents that we file with, or furnish to, the US Securities and Exchange Commission from time to time. In addition, even if our results of operations, including our financial position and liquidity, and the development of the industry in which we operate are consistent with the forward-looking statements contained in this announcement, those results of operations or developments may not be indicative of results or developments in subsequent periods.

Except as required by law, we undertake 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.

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.

SOURCE: Burford Capital Limited

View source version on accesswire.com:
https://www.accesswire.com/697341/Burford-Capital-Limited-Announces-Completed-Share-Purchase-by-Employee-Benefit-Trust

FAQ

What is the recent share purchase by Burford Capital (BUR)?

Burford Capital announced a purchase of 150,000 shares by the Employee Benefit Trust, executed between April 8 and April 12, 2022.

What was the average price paid per share in Burford Capital's recent transaction?

The weighted average price paid per share was 714.0631p.

What will the shares acquired by Burford Capital be used for?

The shares will be used to satisfy vested awards under Burford Capital's 2016 Long Term Incentive Plan.

When did Burford Capital complete its share purchases?

The share purchases were completed over three days from April 8 to April 12, 2022.