Intended Purchases of Burford Capital Ordinary Shares by Employee Benefit Trust
Burford Capital announced plans to purchase up to 400,000 ordinary shares to satisfy awards under its 2016 Long Term Incentive Plan. The expected market value of this purchase is approximately £2,804,000, based on the closing price on the London Stock Exchange's AIM as of December 7, 2022. The share buyback will be requested from the trustee of the Burford Capital Employee Benefit Trust and will occur on the open market by December 31, 2022. An announcement will follow upon completion of the purchase.
- Intended purchase of 400,000 shares may increase investor confidence.
- Market value of shares estimated at £2,804,000 indicates commitment to shareholder value.
- None.
INTENDED PURCHASES OF ORDINARY SHARES BY EMPLOYEE BENEFIT TRUST
GUERNSEY, CHANNEL ISLANDS / ACCESSWIRE / December 9, 2022 / Burford Capital, the leading global finance and asset management firm focused on law, today announces the intended purchases of its ordinary shares ("Shares") to satisfy vested awards made under Burford Capital's 2016 Long Term Incentive Plan.
Burford Capital will request the trustee of the Burford Capital Employee Benefit Trust to purchase on the open market up to 400,000 Shares for an expected market value of approximately £2,804,000 (based on the closing sale price on London Stock Exchange's AIM on December 7, 2022) as soon as practicable, and up until December 31, 2022.
An announcement will be made upon completion of this purchase.
For further information, please contact:
Burford Capital Limited |
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For investor and analyst inquiries: | |
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 |
For press inquiries: |
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David Helfenbein, Vice President, Public Relations - email | +1 (212) 235 6824 |
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 | |
Berenberg - Joint Broker | +44 (0)20 3207 7800 |
Alex Reynolds | |
Toby Flaux | |
Arnav Kapoor |
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 (the "SEC"), 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 SEC on March 29, 2022, our interim report on Form 6-K furnished to the SEC on August 9, 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 of operations 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
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FAQ
What is the intended purchase of ordinary shares by Burford Capital?
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