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There is a blank and maybe a question to Robert in all honesty.
Informed interims delayed due to listing.
Then informed Interims are being released at the very last day AIM rules dictate.
Guess this one of the issues with listing with two governing bodies.
i read it that way to ffc. This is the latest they are allowed to publish the interims.
We await SEC approval. Who knows if this will come before or after the results, as it is not in BUR control. I should think SEC will be looking at BUR very closely due to allegations made - so will provide some credit once approved! to the legitimacy of this pioneering company.
We just have to wait it out as usual.
Thanks ffc, I’m going to keep an eye on easy. Think it will survive and bounce back in a year or so. Yep, pilots didn’t see this coming! Steady job for life usually, still it will all come back, eventually.
Some nice opportunities at the moment. Best performing share during pandemic for me was Games Workshop.
On BUR had a nice email from Robert- says management are busy hard at work doing everything possible to move the company in the right direction.
90% rise in 6 months is lovely to see. Shows how much potential there is in this stock.
Good luck to all holders
2020 Portfolio progress
On 3 February 2020, Burford reported that it had achieved litigation successes that would trigger unrealized gains and, if ultimately affirmed and paid, would generate more than $150 million in Group-wide income and more than $100 million in balance sheet income.
Since then, Burford has enjoyed further substantial successes in its portfolio. In the first four months of 2020 Burford has obtained court results or arbitral awards that, if paid in full, would generate substantial income and cash receipts:
· Almost $800 million in Group-wide cash receipts and more than $450 million in balance sheet cash receipts
· More than $500 million in Group-wide income and approximately $300 million in balance sheet income, against which less than $1.5 million had been realised through 31 December 2019 in balance sheet fair value gains
· As a subset of the foregoing, more than $300 million in balance sheet cash receipts and $200 million in balance sheet income either in the form of arbitral awards or appellate court judgments from which further legal review is unlikely ("Final Matters"), and if not paid promptly will result in the creation of substantial unrealised gain or receivables while payment is awaited
The expected cash receipts should provide a meaningful addition to Burford's already healthy cash liquidity to reinvest in new matters.
The balance sheet numbers above do not include future balance sheet entitlement to performance fees on what would be more than $200 million in fund income, $150 million of which in Final Matters.
Good evening all, been on hols last week or so with minimum data available - things are looking positive and glad management took a view to provide an update - wow we are just a couple of weeks off from finding how trading has been going - as mentioned previously we may even get a 3rd quarter trading update if some large ticket wins have paid during this period - could be tactfully made decision if payment didn’t materialise over the lockdown period.
SEC review green light should be a huge confidence boost for us as the directors have placed their personal guarantee of no bad practice.
SEC approval with strong trading update should get things back up!!
Exciting times indeed, but not seen shorts reduce yet so might still be in for a bumpy ride.
Good luck all - nice to back in the £6+
Hope it hold this time!!!!! Hey ffc :P
MW have moved on. Was over a year ago, they are focused on other companies now. Have listen to the most recent interviews and they just claim the same drivel. Just words of speculation (no evidence or proof) and if LSE provided the data to prove market manipulation, they could well be out of business by now. But the courts decides to protect the FCA from another hit on their credibility as they backed LSE.
Burford need solid results, that’s all that matters. Don’t get me wrong MW has helped up - cheap SP, Value and in depth analysis of Petersen, shake up of management, more non Ex Directors, detailed results and better education of the business.
Just ones thoughts mind
FFC institutions invest on facts, we have not had great results in the last 12 months off the back of bad publicity with MW.
Also this is the 2nd set of results now delayed.
This will rise only on positive news, which I’m hoping we are due to receive soon.
I’m long to - but can see why this is still low.
Looks like Kuvari are shorting again, maybe was why we had that big drop last week - it’s artificial in that case.
Not selling. This is just heating up! It’s being short and SP is still going up - what does that tell you.
Nice to hear your staying put BBH. I’m also surprised it’s moving well against Gladstone & General Market. Let’s see if it holds like you say.
Certainly could be a fantastic opportunity. We are above the 200 MA so will start to raise an eye brow now with institutions - one follows the other with them!
Come on SEC review
Clock is ticking, set my expectations to 3rd or 4th week Sept for SEC result and interims. Listing to happen towards end of year... any sooner be nice
We need positive news and moment so hope all is well.
Come on BUR management - I think an email investor relations on how important both events are for LTH Is due.
I’m feeling positive about proceeding.
Good account of things GT,
It is up to BUR to prove themselves now with strong results and listing. But not as if they Directors have not made the most of the opportunity! Topping up heavily while SP is low. (They are clearly confident as can be about the future prospects, investing millions more)
We are not out the woods yet. Nothing guaranteed with listing or when cases pay up - but it’s all coming as we can see how many cases they are invested in, just a matter of time, especially as business will be picking up even further from the recession.
Till we get news this SP will just bob up and down due to Gladstone constant selling in any little rise, we need a strong surge to break that momentum - then up up it goes
Hold steady all.
It was a shocking drop, was £15 to about £6.3 .. recovered to close to £10, till the painstaking drop to £2.5 over several months. I’m a long term holder so seen the drop, I believe in the company and topped up heavily in the £3 area, researched them in depth read every report been involved in majority of investor conferences.
If the litigation market is booming and Burford are clear market leaders and do produce good results regularly, I’m sure people will see it as a good investment for their money again - here or new investors or institutions in the US.
It’s just my opinion, take it or leave it. Been investing for 30 years so been around a while to see a good few dodgy companies, I also just don’t think the Directors of BUR would want to face prosecution in the US, as they take on personal liability with the listing.
Sorry for late reply been down the allotment most the day.
There are plenty of ‘chickens’ scubadiverr, sure you have seen all the growing cases they are awaiting outcomes on, this is a won case from 2016 and we are watching now how they get hold of assets. We are only aware of the cases with high publicity, shows you how powerful the media is really. Sure if this was an unfavourable outcome we would of heard from the FT On the matter like we have precisely and would of dropped the SP.
I don’t think BUR stake in PCB got much positive attention, even though they did sing about it as being the first agreement of its kind. PCB seems like a very successful company in these type of cases, detail of which I’m sure we can only skim the surface of.
Still it’s positive news flow, which is what we need at the moment!!
With results of the U.S. Securities and Exchange Commission as well as the interims due in coming weeks, it is all we have at the moment.
I think BUR will provide a trading update also with interims for July / August with any luck - if these are strong results people might start seeing BUR are one of the few safe havens, as we do! Which will help further for a recovery.