TIDMBUR
RNS Number : 7879E
Burford Capital Limited
03 July 2023
3 July 2023
COMPLETED PURCHASES OF ORDINARY SHARES TO SATISFY NON-EMPLOYEE
DIRECTORS' AWARDS, GRANTS OF ORDINARY SHARES TO NON-EMPLOYEE
DIRECTORS AND NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES
Burford Capital Limited ("Burford"), the leading global finance
and asset management firm focused on law, provides notification of
transactions by persons discharging managerial responsibilities
(each, a "PDMR" and, collectively, "PDMRs"). Burford also provides
an update on the completed purchases of ordinary shares of nil par
value of Burford Capital Limited (the "Shares") to satisfy
non-employee directors' awards and grants of Shares to non-employee
directors under the Burford Capital Limited 2021 Non-Employee
Directors' Share Plan (the "NED Plan").
Transactions by PDMRs
On June 28, 2023, Christopher Halmy, non-executive director,
purchased 7,500 Shares on the New York Stock Exchange at $11.92 per
Share.
In addition, on June 28, 2023, John Sievwright, non-executive
director, purchased $250,000 aggregate principal amount of 9.250%
senior notes due 2031 issued by Burford Capital Global Finance LLC,
an indirect, wholly owned subsidiary of Burford, at a price of
$100.165, for a total of $250,674.79.
Completed purchases of Shares
On June 29, 2023, Burford completed the open market purchases of
17,403 Shares on the London Stock Exchange at a blended price of
933.2979p per Share to satisfy a grant of awards to Burford's
non-employee directors under the NED Plan.
Grants of Shares to non-executive directors under the NED
Plan
Effective June 29, 2023, each of the following non-executive
directors was granted Shares under the NED Plan as compensation for
his or her services as a director.
PDMR Burford's Purchase Number of Shares Total shareholding
Price granted under following the
the NED Plan grant under the
NED Plan
Rukia Baruti GBP9.49 2,492 2,492
------------------- ----------------- -------------------
Robert Gillespie GBP9.49 2,492 12,798
------------------- ----------------- -------------------
Christopher Halmy $12.09 2,482 25,490*
------------------- ----------------- -------------------
Andrea Muller $12.09 1,241 16,537
------------------- ----------------- -------------------
John Sievwright GBP9.49 2,492 17,798
------------------- ----------------- -------------------
Hugh Steven Wilson $12.09 6,204 303,835
------------------- ----------------- -------------------
* Includes 7,500 Shares purchased on June 28, 2023 as disclosed
above.
The Notification of Dealing Forms for each of the transactions
set forth above are included at the end of this announcement.
For further information, please contact:
Burford Capital Limited
For investor and analyst inquiries:
Robert Bailhache, Head of Investor Relations, +44 (0)20 3530
EMEA and Asia - email 2023
Jim Ballan, Head of Investor Relations, Americas +1 (646) 793
- email 9176
For press inquiries:
David Helfenbein, Vice President, Public Relations +1 (212) 235
- email 6824
Numis Securities Limited - NOMAD and Joint +44 (0)20 7260
Broker 1000
Giles Rolls
Charlie Farquhar
+44 (0)20 7029
Jefferies International Limited - Joint Broker 8000
Graham Davidson
Tony White
+44 (0)20 3207
Berenberg - Joint Broker 7800
Toby Flaux
James Thompson
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 offices in New York, London, Chicago,
Washington, DC, Singapore, Dubai, Sydney and Hong Kong.
For more information, please visit www.burfordcapital.com.
This announcement does not constitute an offer to sell or the
solicitation of an offer to buy any ordinary shares or other
securities of Burford.
This announcement does not constitute an offer of any Burford
private fund. Burford Capital Investment Management LLC, which acts
as the fund manager of all Burford private funds, is registered as
an investment adviser with the US Securities and Exchange
Commission. The information provided in this announcement is for
informational purposes only. Past performance is not indicative of
future results. The information contained in this announcement 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 any of Burford private 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, Burford and its
representatives may from time to time make other oral or written
statements which are forward-looking statements, including in its
periodic reports that Burford files with, or furnishes to, the US
Securities and Exchange Commission , other information made
available to Burford's 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. Burford cautions you that forward-looking
statements are not guarantees of future performance and are based
on numerous assumptions , expectations, projections, intentions and
beliefs and that Burford's actual results of operations, including
its financial position and liquidity, and the development of the
industry in which it operates, 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 Burford expects include, among others, those discussed under
"Risk Factors" in Burford's annual report on Form 20-F for the year
ended December 31, 2022 filed with the US Securities and Exchange
Commission on May 16, 2023 and other reports or documents that
Burford files with, or furnishes to, the US Securities and Exchange
Commission from time to time . In addition, even if Burford's
results of operations, including its financial position and
liquidity, and the development of the industry in which it operates
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, Burford undertakes 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.
1 Details of the person discharging managerial responsibilities/person
closely associated
(a) Name Christopher Halmy
--------------------------------------------- -----------------------------------
2 Reason for the notification
(a) Position/status A PDMR occupying the position of
Non-Executive Director
(b) Initial notification Initial
/Amendment
--------------------------------------------- -----------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
--------------------------------------------- -----------------------------------
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 Ordinary shares of nil par value
the financial instrument,
type of instrument
Identification code GG00BMGYLN96
(b) Nature of the transaction Purchase of ordinary shares
(c) Price(s)and volume(s) Price(s) Volume(s)
---------------- -----------------
$ 11.92 7,500
(d) Aggregated information N/A
* Aggregated volume
* Price
(e) Date of the transaction 28 June 2023
(f) Place of the transaction New York Stock Exchange
------------------------------------------------- -----------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
(a) Name John Sievwright
-------------------------------------------- -------------------------------------------
2 Reason for the notification
(a) Position/status A PDMR occupying the position of
Non-Executive Director
(b) Initial notification Initial
/Amendment
-------------------------------------------- -------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
(a) Name Burford Capital Global Finance
LLC
(b) LEI 549300JVAOO67CSCH406
-------------------------------------------- -------------------------------------------
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 9.250% US Dollar denominated bonds
the financial instrument, due July 1, 2031 at 100.165 per
type of instrument cent. of their principal amount
of Burford Capital Limited's subsidiary
Burford Capital Global Finance
LLC
Identification code USU1056LAC55
(b) Nature of the transaction Purchase of bonds
(c) Price(s)and volume(s) Price(s) Volume(s)
----------------------- ------------------
$ 1,001.65 250
(d) Aggregated information N/A
* Aggregated volume
* Price
(e) Date of the transaction 28 June 2023
(f) Place of the transaction Outside a trading venue
------------------------------------------------ -------------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
(a) Name Rukia Baruti
--------------------------------------------- ---------------------------------------
2 Reason for the notification
(a) Position/status A PDMR occupying the position of
Non-Executive Director
(b) Initial notification Initial
/Amendment
--------------------------------------------- ---------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
--------------------------------------------- ---------------------------------------
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 Ordinary shares of nil par value
the financial instrument,
type of instrument
Identification code GG00BMGYLN96
(b) Nature of the transaction Grant of ordinary shares under
the Burford Capital Limited 2021
Non-Employee Directors' Share Plan
(c) Price(s)and volume(s) Price(s) Volume(s)
------------------- ------------------
GBP 9.49 2,492
(d) Aggregated information N/A
* Aggregated volume
* Price
(e) Date of the transaction 29 June 2023
(f) Place of the transaction Outside a trading venue
--------------------------------------------- -------------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
(a) Name Robert Gillespie
--------------------------------------------- ---------------------------------------
2 Reason for the notification
(a) Position/status A PDMR occupying the position of
Non-Executive Director
(b) Initial notification Initial
/Amendment
--------------------------------------------- ---------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
--------------------------------------------- ---------------------------------------
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 Ordinary shares of nil par value
the financial instrument,
type of instrument
Identification code GG00BMGYLN96
(b) Nature of the transaction Grant of ordinary shares under
the Burford Capital Limited 2021
Non-Employee Directors' Share Plan
(c) Price(s)and volume(s) Price(s) Volume(s)
------------------- ------------------
GBP 9.49 2,492
(d) Aggregated information N/A
* Aggregated volume
* Price
(e) Date of the transaction 29 June 2023
(f) Place of the transaction Outside a trading venue
--------------------------------------------- -------------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
(a) Name Christopher Halmy
--------------------------------------------- --------------------------------------
2 Reason for the notification
(a) Position/status A PDMR occupying the position of
Non-Executive Director
(b) Initial notification Initial
/Amendment
--------------------------------------------- --------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
--------------------------------------------- --------------------------------------
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 Ordinary shares of nil par value
the financial instrument,
type of instrument
Identification code GG00BMGYLN96
(b) Nature of the transaction Grant of ordinary shares under
the Burford Capital Limited 2021
Non-Employee Directors' Share Plan
(c) Price(s)and volume(s) Price(s) Volume(s)
------------------ ------------------
$ 12.09 2,482
(d) Aggregated information N/A
* Aggregated volume
* Price
(e) Date of the transaction 29 June 2023
(f) Place of the transaction Outside a trading venue
------------------------------------------------- --------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
(a) Name Andrea Muller
--------------------------------------------- --------------------------------------
2 Reason for the notification
(a) Position/status A PDMR occupying the position of
Non-Executive Director
(b) Initial notification Initial
/Amendment
--------------------------------------------- --------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
--------------------------------------------- --------------------------------------
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 Ordinary shares of nil par value
the financial instrument,
type of instrument
Identification code GG00BMGYLN96
(b) Nature of the transaction Grant of ordinary shares under
the Burford Capital Limited 2021
Non-Employee Directors' Share Plan
(c) Price(s)and volume(s) Price(s) Volume(s)
------------------ ------------------
$ 12.09 1,241
(d) Aggregated information N/A
* Aggregated volume
* Price
(e) Date of the transaction 29 June 2023
(f) Place of the transaction Outside a trading venue
------------------------------------------------- --------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
(a) Name John Sievwright
--------------------------------------------- ---------------------------------------
2 Reason for the notification
(a) Position/status A PDMR occupying the position of
Non-Executive Director
(b) Initial notification Initial
/Amendment
--------------------------------------------- ---------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
--------------------------------------------- ---------------------------------------
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 Ordinary shares of nil par value
the financial instrument,
type of instrument
Identification code GG00BMGYLN96
(b) Nature of the transaction Grant of ordinary shares under
the Burford Capital Limited 2021
Non-Employee Directors' Share Plan
(c) Price(s)and volume(s) Price(s) Volume(s)
------------------- ------------------
GBP 9.49 2,492
(d) Aggregated information N/A
* Aggregated volume
* Price
(e) Date of the transaction 29 June 2023
(f) Place of the transaction Outside a trading venue
--------------------------------------------- -------------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
(a) Name Hugh Steven Wilson
--------------------------------------------- --------------------------------------
2 Reason for the notification
(a) Position/status A PDMR occupying the position of
Non-Executive Director
(b) Initial notification Initial
/Amendment
--------------------------------------------- --------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
--------------------------------------------- --------------------------------------
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 Ordinary shares of nil par value
the financial instrument,
type of instrument
Identification code GG00BMGYLN96
(b) Nature of the transaction Grant of ordinary shares under
the Burford Capital Limited 2021
Non-Employee Directors' Share Plan
(c) Price(s)and volume(s) Price(s) Volume(s)
------------------ ------------------
$ 12.09 6,204
(d) Aggregated information N/A
* Aggregated volume
* Price
(e) Date of the transaction 29 June 2023
(f) Place of the transaction Outside a trading venue
------------------------------------------------- --------------------------------------
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END
DSHUPUCWMUPWGPW
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