Member Info for driveat15

The number of shares purchased ( 9,388,689 ) is EXACTLY the number Lazard Asset Management declared they held in their OPD

I think we found the seller :)

Looks like a forgotten share to me! Broker rating BUY with target of 230p. Trading update says "exceeds expectations" but no movement in the price? I have high hopes for the results in June ....

What on earth is happening to our share price today?

Nice rise today to a new high.

Where/when was this published please?

Been digging into the results this evening. Total investment income for this half year was £161 million. The Teinver case announced last week looks likely to net Burford £140 million plus compound interest (subject to appeal, subject to pay,net, etc, etc) but if it pays off in the second half that will have a major impact on the figures for the year. And we know that is not their largest case as Peterson is bigger. Obviously there is a chance neither will pay out but these guys seem to REALLY know what they are doing and I like the way they have removed the Peterson risk by creating a secondary market to sell 25% of it at a profit, the remaining 75% really is risk free now! Love this company.

evidently it wasn't all priced in :) We can expect some profit taking now though.

Stunning results! What a company. https://www.investegate.co.uk/burford-capital--bur-/rns/interim-results-for-six-months-ended-30-june-2017/201707270700072196M/

Hoping for good news. Will be interesting to see how much the acquisition from December has added. I seem to recall that our income is almost all in USD and our expenses were mainly in GBP so we should have gained from exchange rates as well. This is certainly my favourite share for the long term. Good luck everyone!

In case the link doesn't work the main bit is this ... Burford Capital Limited ("Burford"), a leading global finance and investment management firm focused on law, is pleased to announce that a favourable decision in an arbitration matter underlying one of its investments has been rendered by the arbitration tribunal. The arbitration matter is a claim by Teinver S.A. and others against Argentina in connection with Argentina's expropriation of two airlines. The arbitration tribunal ruled on Friday evening against Argentina, requiring it to pay $324,254,807 in damages plus pre- and post-award interest which remains to be computed. Burford's entitlement from the award is dependent on a number of other variables which are not yet known precisely but is estimated to be in the range of $140 million and is subject to an ongoing and compounding interest entitlement. As at 30 June 2017, Burford's current investment in this matter is approximately $13 million and it is carried on the balance sheet at a fair value of approximately $30 million. Thus, this favourable result is expected to result in the recognition of substantial additional income (although not approaching Burford's full potential entitlement above) pursuant to Burford's valuation policies. Any such income would be included in Burford's financial result for the second half of its financial year 2017, to be reported in its financial results for the year ended 31 December 2017. However, Burford has not yet determined, nor yet consulted with its auditors about, any impact of the arbitral decision on Burford's financial statements in 2017.

https://www.investegate.co.uk/burford-capital--bur-/rns/favourable-investment-result/201707240700058218L/

What I find really weird is that it's going up on virtually no trades, and certainly no volume. I think I counted 17 trades in total so far in July ? Mind you 8 of those were in the last 2 days. But the preceding 2 days there were zero trades. Very odd indeed - but I'm not complaining!

So the 2.3 million shares were bought by Hanover. They now hold 25.43% ..... getting interesting :)

So 2.3 million share sale went through yesterday - 12% of the total in issue and no effect on the share price. I assume that means there was a matched buyer but the buy is going to be a delayed reporting trade? If Hanover have bought those as well then they are building quite a stake. We know tha 1.82 million came from the CEO and the CCO (910,000 each) but where did the remaining 480,000 come from? Presumably from another director/directors as the 2.3 million is reported as a single sale so they must have sold together. I'd have expected to see separate sales for the indidual directors holdings? Is it normal for them to be combined in a single transaction? Does it imply an arranged matched sale ? So many questions !

Take a look at their website hanoverinvestors.com - looks encouraging Homepage has this statement in bold "specialist investors in change and turnaround situations" Could be news at the AGM today?

Ah, the list on the website is dated 31-Dec-2016 so not up to date. Sorry.

AGM is on Friday - is this someone buying voting rights ahead of the AGM?

I want to know where the 16% came from as well!! According to the list of major shareholder on the company website 90% of the shares are tied up with directors/major holders. So that would only have left 10% available.

Looks interesting!

Looking forward to hearing more details about what they will do with the £113 million cash received from the Eddie Stobart Logistics float - will there be a special divi for some of it?