NEW
YORK, June 21, 2024 /PRNewswire/ -- Burford
Capital Limited ("Burford"), the leading global finance and asset
management firm focused on law, today announces that, effective
June 18, 2024, Chief Executive
Officer Christopher Bogart, Chief
Investment Officer Jonathan Molot
and Co-Chief Operating Officers Aviva
Will and David Perla received
in aggregate 202,018 Burford's ordinary shares of nil par value
("Shares"). These distributions of actual Shares were made after
each of the executives used his or her respective cash compensation
to make the original investment in notional Shares through the
Burford Capital Deferred Compensation Plan (the "DCP") in March or
April 2022, as applicable.
The breakdown of these distributions is as follows: 85,310
Shares to Mr Bogart, 82,874 Shares to Mr Molot, 20,552 Shares to Ms
Will and 13,282 Shares to Mr Perla. The number of Shares
distributed to each executive reflects any Shares that were
withheld for tax purposes.
In connection with these distributions pursuant to the DCP to
the executives as set forth above, as well as certain other
employees that are not persons discharging managerial
responsibilities, Burford issued in aggregate 208,691 new Shares on
June 18, 2024. Application will be
made for these 208,691 new Shares to be admitted to trading on the
AIM market of the London Stock Exchange plc. The expected date of
admission is June 28, 2024. These
208,691 new Shares will also be listed on the New York Stock
Exchange.
Following the issuance of these new Shares, the Company's issued
ordinary share capital is 220,057,785, of which 669,947 Shares are
held in treasury and do not have any voting rights. Therefore, the
total number of voting rights in the Company, excluding treasury
shares, will be 219,387,838 after giving effect to this issuance of
new Shares. This figure for the total number of voting rights may
be used by shareholders as the denominator for the calculations by
which they will determine if they are required to notify their
interest in the Company under the FCA's Disclosure Guidance and
Transparency Rules.
The Notification of Dealing Forms for the transactions set forth
above are included at the end of this announcement.
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 that are forward-looking, 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 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, 2023 filed with
the US Securities and Exchange Commission on March 28, 2024 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
Bogart
|
|
2
|
Reason for the
notification
|
|
|
(a)
Position/status
|
A PDMR occupying the
position of Chief Executive Officer
|
|
(b)
Initial notification /Amendment
|
Initial
|
|
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 the financial instrument, type of
instrument
|
Ordinary
Shares
|
|
Identification code
|
GG00BMGYLN96
|
|
(b)
Nature of the transaction
|
Distribution of fully
vested Ordinary Shares pursuant to Burford's deferred compensation
plan
|
|
(c)
Price(s)and volume(s)
|
Price(s)
|
Volume(s)
|
|
$14.44
|
85,310
|
|
|
|
(d)
Aggregated information
•
Aggregated volume
•
Price
|
N/A
|
|
(e)
Date of the transaction
|
18 June 2024
|
|
(f)
Place of the transaction
|
Outside a trading
venue
|
|
|
1
|
Details of the
person discharging managerial responsibilities/person closely
associated
|
|
(a)
Name
|
Jonathan
Molot
|
|
2
|
Reason for the
notification
|
|
|
(a)
Position/status
|
A PDMR occupying the
position of Chief Investment Officer
|
|
(b)
Initial notification /Amendment
|
Initial
|
|
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 the financial instrument, type of
instrument
|
Ordinary
Shares
|
|
Identification code
|
GG00BMGYLN96
|
|
(b)
Nature of the transaction
|
Distribution of fully
vested Ordinary Shares pursuant to Burford's deferred compensation
plan
|
|
(c)
Price(s)and volume(s)
|
Price(s)
|
Volume(s)
|
|
$14.44
|
82,874
|
|
|
|
(d)
Aggregated information
•
Aggregated volume
•
Price
|
N/A
|
|
(e)
Date of the transaction
|
18 June 2024
|
|
(f)
Place of the transaction
|
Outside a trading
venue
|
|
|
1
|
Details of the
person discharging managerial responsibilities/person closely
associated
|
|
(a)
Name
|
Aviva Will
|
|
2
|
Reason for the
notification
|
|
|
(a)
Position/status
|
A PDMR occupying the
position of Co-Chief Operating Officer
|
|
(b)
Initial notification /Amendment
|
Initial
|
|
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 the financial instrument, type of
instrument
|
Ordinary
Shares
|
|
Identification code
|
GG00BMGYLN96
|
|
(b)
Nature of the transaction
|
Distribution of fully
vested Ordinary Shares pursuant to Burford's deferred compensation
plan
|
|
(c)
Price(s)and volume(s)
|
Price(s)
|
Volume(s)
|
|
$14.44
|
20,552
|
|
|
|
(d)
Aggregated information
•
Aggregated volume
•
Price
|
N/A
|
|
(e)
Date of the transaction
|
18 June 2024
|
|
(f)
Place of the transaction
|
Outside a trading
venue
|
|
|
1
|
Details of the
person discharging managerial responsibilities/person closely
associated
|
|
(a)
Name
|
David Perla
|
|
2
|
Reason for the
notification
|
|
|
(a)
Position/status
|
A PDMR occupying the
position of Co-Chief Operating Officer
|
|
(b)
Initial notification /Amendment
|
Initial
|
|
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 the financial instrument, type of
instrument
|
Ordinary
Shares
|
|
Identification code
|
GG00BMGYLN96
|
|
(b)
Nature of the transaction
|
Distribution of fully
vested Ordinary Shares pursuant to Burford's deferred compensation
plan
|
|
(c)
Price(s)and volume(s)
|
Price(s)
|
Volume(s)
|
|
$14.44
|
13,282
|
|
|
|
(d)
Aggregated information
•
Aggregated volume
•
Price
|
N/A
|
|
(e)
Date of the transaction
|
18 June 2024
|
|
(f)
Place of the transaction
|
Outside a trading
venue
|
View original
content:https://www.prnewswire.com/news-releases/notification-of-transactions-by-persons-discharging-managerial-responsibilities-and-issuance-of-new-shares-in-connection-with-dcp-302178933.html
SOURCE Burford Capital