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p.p.s. I'm planning to go more into top-up batches starting from 415, next heavier top-up below 400..
p.s. volume today seems to be exceeding regular average, someone relocating into different share or opening short?
IMO - it's not a good time period for listings atm (actually worst possible timing), economy in general and markets are suffocating on cash/liquidity, therefore US listing can't happen in nearest future (lots of companies attempted to pull it off in Q4-2019 - it was bad enough then, many failed or went significantly undervalued), none of underwriters/inv.bankers will sign up for this right now (they normally advice to wait for better time)
Short story: at present financial environment is highly hostile for any listings / equity releases / debt interest / etc. .. despite BUR sitting in beneficial segment of market (and as already mentioned by someone below - it's not an equity/debt raise).
P.S. I think sp will have another relatively deep dive before listing (if it's happening)
But topped up a bit in 43x range anyways.
But gan have "moved" to NASDAQ haven't they ???
We are going for a dual listing I believe
Have a look at GAN. They're currently going through the process of moving from UK to NASDAQ.
Pennylots I'm also unsure to the mechanics of listing and trading shares in different jurisdictions, all I know is the same share can be bought from the one company in different locations , Guatemalan need to know right now.
What I can say is in this pandemic and depressions era there will be numerous share bargains to be had, and burford is one of the very best I can find, investors are naturally and understandably weary and nervous around owning or buying shares, preferring to hold X amount of there wealth in cash or cash equivalents, / some preferring gold , government bonds etc,
Because of that change of direction real share bargains can plentiful at some point, some stocks are depression wise defensive, though Burford will actually flourish during this depression and come out the other side at a much higher share price,
There maybe opportunities to buy burford slightly cheaper , though not much cheaper, it's already ridiculously cheap, thanks to muddy waters attacks, I could understand anyone wanting cash instead of holding shares in this environment,
The time to make a killing buying shares can be when others genuinely fear going into the market to buy any shares, that time maybe now or at a later stage, it's a difficult call to make, as everyones a individual and different.
No matter what burford does in the short term , I'm very confident it will roar back with substantially higher profits and dividends in the medium to long term, 6 times PE is ridiculously low for a unique defensive stock like burford.
DYOR, Only invest what you can afford to loose, never buy or sell on anyone's hype or enthusiasm,
BUR have said that they are not looking to raise new capital from the listing. So what shares will be available to buy on NASDAQ or wherever? The suggestion that BUR could buy back shares from UK shareholders to provide a pool of shares for this purpose is a possibility. But to make a meaningful market in the US would require this to be done at a scale that does not seem feasible. So I am still puzzled about the mechanics of how a substantial pool of shares can be created in the US. Any ideas?
Will need to be approved AT extra gm. NEver liked the idea
Lunanera thank you for that informative post.
There are a lot of complications when moving to SEC regulated territories. A lot of the regulations as towards independence of audiors are a lot tighther. This could involve moving to a different auditor all toghether. Do not underestimate this complication.
Arguably, the paperwork can be done within weeks. But that's assuming that all the other boxes are ticked. They never are and the current delays we face across all industry sectors don't help as far as timing is concerned.
Meanwhile, let the management run the company and work towards establishing these claims as an asset class. Very novel and thus by default, speculative. I can see the upside and the beneifits and am prepared to give it it's time.
What would be great is if burford could buy back shares and hold them for the long term companies share incentive scheme, and buying them at effectively half price, they could even keep them and sell them into the American market when we hit 10/12 times Price per earnings, now isn't that a better investment than the returns of most litigation cases, I'm sure burford would only have to wait for a short while. 12/ 16 months from 2020.
I've a feeling institutions will be throwing money at burford for lawsuits later this year or early next year. And to think out of 100% of lawsuit cases presented to us , we only pick 4% of them cases, the rest to go off looking for other backers. Wow.
Maybe to buy and transfer for the US listing?
That was my understanding but note from the late RNS today:
10. To authorise the Company
to purchase its own shares
up to a specified amount
So not sure what this change is about?!?
I think i read somewhere (maybe it was in the annual report) that Burford had ruled out buybacks in order to deploy the cash for all the new cases they are expecting in the current environment.
Another we interesting story , we fund all sorts of complex Litigation funding,
You might have heard about burford funding this case / links below,
if we eventually get a settlement of any reasonable size , then this could pay handsomely for us / or not.
maybe a interest we read .
Let's hope our team get their hands on that billionaires lawyer's files to find out where , and who took all the UK assets away,
probably the son ?. Maybe if they throw him in prison for a while the father might cough up a decent settlement to get him out.
I wouldn't bet on it though.
FLAKY5185 Burford might even consider buying back some shares if they remain to cheap for to long, and burford gets a understanding on how much of a delay this pandemic will cause in our workworkloads,
another very important thing we have clauses in our lawsuit funding contracts that gives us extra profit / interest on our funding money at approximately 12% interest , from any delays to any legal proceedings whatsoever. That should increase our profits even more,
Wouldn't be surprised if they carry out share buy backs, take some off the table!
Sudnal Burford will return too and surpass yesterdays £4.97p high, why did burford spectacularly rise yesterday, because the fundamentals are all still there , for burford to make £2 £3 £4 hundred million or more in the next few years, for a share that will eventually hit and surpass that Berenberg Banks price target of £8.20p .
Investors were happy to pay up to that point yesterday , and then profit takers and more media coverage of muddy waters new allegations, that set of circumstances alone would make investors take profits, though they will evaluate everything, and start building there positions for the next several years, as burfords profits should be the highest since its listing.
I'm much more than confident burford will build a respectable world leading platform worthy of a premium valuation to its nearest rivals.
Companies in the USA don't generally buy burford shares on the AIM now , they can buy them if they are held in another companies share holding accounts, and arranged by another USA share buying broker. Investors generally don't like to many complications when buying shares, when we list in the USA. X amount of institutional and private investors will naturally buy burfords shares, and that should increase the awareness and desirability of burfords shares, that's in theory, in practice anything can happen really, though in the long run I genuinely believe that the Americans will like our litigation funding business model proposition. And that really could mean a significant re-rating of our share price and valuation.
Playing devil's advocate, muddy waters could take another swipe at us , though I feel burfords position to not engage any more with MUDDY waters is the correct thing to do, believe me MUDDY waters needs to make more money to pay It's employees, and they will be actively hunting for their next unwary victims. If we engage in a slanging match anymore we will stay on their radar, we don't want that. Let someone else do that, we are moving onto bigger and better things.
As you insinuated a few months of decent profit making results will speak louder than words. And shut muddy waters up for good I hope.LOL
I agree Sudnal that is the upcoming performance that will be the main driver of any return to a fairer valuation. I know that many US companies do invest here, but Buffet for one, only invests in US listed stocks. Not sure that Burford would be to his taste, but there is likely to be to others with similar geographic screening criteria, not to mention the wealth of personal investors with an appetite for this new (to them) countercyclical asset class at a time when should be be most valuable.
Not sure what has happened today with the price as looked very bullish with the close yesterday. MW's second report had a limited impact on day of release with a more pronounced impact the day after. Whether yesterdays report has had an impact I really don't know. Hopefully tomorrow we will see a nice bounce although markets in general seem to be taking a turn for the worse.
it was known for a long time that the AGM revolutions will be passed which includes US listing. Not sure of the market reaction today to bring this down. Also does companies in US not buy shares in LSE as it is. May be I'm missing something. Listing alone will not be the trigger IMO but solid results in 2 quarters with noise levels reducing from Muddy waters causing doubts.
Indeed FFC Member. Thank you
That’s fantastic news big baggerhungry,
The share price is as usual being played with by speculators, that’s ok to a point, now we need Burford to get into a more proactive confident building exercise with institutions and private share holders, the low valuation will eventually leave us, as I keep banging on about that fantastic presentation clip in my past post , that was found by another astute poster is my belief now, everything that was stated in that independent presentation tells me that Burford is about to materially expand its financial funding to lawsuits and also expand its whole financial basis. It’s the biggest the best at what it does, and that deserves a premium to its competitors. The future is bright ok, a little more patience will win the day .
All Resolutions passed comfortably!
I guess no further barriers to the US listing.
RNS issued at 16.27......just at close of business on LSE.
Lets see what the markets think tomorrow!
RESULT OF BURFORD CAPITAL'S AGM
Burford Capital Limited (" Burford Capital" or "Burford" or "the Company"), the leading global finance and investment management firm focused on law , is pleased to announce that all resolutions proposed at its Annual General Meeting today were approved by shareholders.