LONDON (Alliance News) - Juridica Investments Ltd on Monday said two of the cases in its portfolio have reached settlement, with gross proceeds from both expected to total USD65.8 million.
Juridica, which provides strategic capital for corporate legal claims, said one of the cases has reached a definitive settlement, with proceeds of USD65.0 million expected, whilst the other is a partial settlement agreement and is ongoing. The company said it expects proceeds of USD800,000 from the partial settlement.
Juridica said it expects the net proceeds from both to be transferred to the company prior to the end of 2016 and said it will consider the most appropriate way in which to distribute returns to shareholders.
Juridica said the two case results represent around USD55.0 million of the USD126.0 million 2015 year-end net asset value it reported last month.
Shares in Juridica were up 17% at 52.00 pence on Monday.
By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland
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