So PLCE SP fell c50% in the last week on news of potential litigation and Mithaq had a margin call … Irony would be that Burford are funding the case..
Mithraq sold 5m shares early March as they needed funds quickly for another investment and was widely reported and an RNS was published.. They still held 8% maybe they needed to sell another 7m.. my point being it happens and we may never know why
War is always stupid as anyone who has ever been involved will testify.. Hopefully the Iranian actions will lead to a calming of rhetoric as is being touted by the yanks.
As for the SP action late friday it would appear a large holder sold a large amount of shares and there could be many many reasons for this.. it happens! We will see over the next few days if it’s anything more than this but I don’t think the unfortunate events in the Middle East will have much impact on BUR or the broader market .. if it stays quiet it will probably be viewed as a positive.
💥 Margin increased by over 50% from 4% to 6.1% and is on track to achieve medium term aim of 9%. Brokers will be revising SP forecasts…Peel Hunt already called it..
“Jon and I have together made significant investments in Burford's ordinary shares in recent years and now together have exposure to almost 10% of Burford's shares."