RE: Full interim results document here26 Jul 2018 01:05
Redrichmond - a friend of mine pointed me in the direction of this share, perhaps a day or two too late ! I can see from reading your posts that you really know your stuff in this area. With that in mind, two basic questions please, if you wouldn’t mind helping a newbie ? Firstly, could you please describe in layman’s terms how this business works ? I get that they borrow money from bond holders and the like (paying less than 6% interest) and that they then lend this money to law firms and charge I guess significantly more ? They also clearly benefit from cases in their portfolio that are won, by presumably owning a percentage of the damages awarded ? What, if anything, have I missed in the core business ? Secondly, with a market cap now of almost £4bn, any idea how close they are to being admitted to the FTSE 250 and when that might happen ? I ask because presumably if they were promoted to the FTSE 250, many tracker fund purchases would have to follow as soon as that happens ? Thanks in anticipation.