Manolete Partners PLC Update re COVID-19 (4906I)
02 April 2020 - 5:00PM
UK Regulatory
TIDMMANO
RNS Number : 4906I
Manolete Partners PLC
02 April 2020
2 April 2020
Manolete Partners PLC
("Manolete" or the "Company")
Update re COVID-19
Manolete Partners plc (AIM:MANO), the leading listed UK
insolvency litigation financing company, provides the following
operational update.
We have successfully adjusted to the ongoing COVID-19 crisis. We
remain fully operational, all employees in our regional offices
work from home and employees in our London headquarters have been
working from home for the last three weeks. Activity levels in
March 2020 were high, featuring: 50 new case enquiries, 15 new
signed cases and 8 case completions.
While there have been some delays in the Courts, very few of our
cases go to Court and we have been conducting mediations and other
Alternative Dispute Resolution meetings using video conferencing
services during this current period of social distancing.
In respect of the twelve-month period ending 31 March 2020, we
have achieved:
-- A 131% increase in new cases (141; FY19: 61);
-- A 54% increase in completed cases (54; FY19: 35); and
-- Gross proceeds of GBP10.1m (FY19: GBP9.3m) for the full year;
with gross proceeds in the second half of FY20 of GBP7.7m, compared
to GBP2.4m in the first half.
For further information please contact:
Manolete Partners
Steven Cooklin (Chief Executive Officer) via Instinctif Partners
Peel Hunt (NOMAD and Broker) +44 (0)20 7418 8900
Guy Wiehahn
Rishi Shah
Instinctif Partners +44 (0)78 3767 4600
Tim Linacre
Lewis Hill
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END
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