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Yes was an investor call yesterday. 9.30pm.
Was very interesting and exsplsined a lot.
Market is just panicking.
https://www.investis-live.com/burfordcapital/640b4ffc3e92bb0c00da171e/sjedc.
Large SIPP top up, perfect timing. Needed to before end of tax year.
Nice to hear they are still working towards a full UK listing, it does them no favours being on AIM or being dual listed.
Little surprises so much was sprung on us -
The discussion with senior SEC to set new reporting standards.
No pre warnings of the earnings calls.
They will let the results speak for the company, looks like a fantastic start to 2023, with in 1-2 years we could be looking back at them highs of £20 again, once the world sees the Burford cash generating machine at work.
Top up time!
Robert Bailhache emailed me the results. They look ok. Fairly pleased with them, it’s all going in the right direction. 2022 business highlights1• Robust cash receipts of more than $300 million in 2022• Meaningful upswing in portfolio activity as courts resume fully normal operations post-pandemico Burford-only capital provision-direct realizations up 33% to $350 million (2021: $264 million) o More than 30 trials and final merits hearings already scheduled for 2023 (nearly three timesthe number of such hearings in 2022) and are already seeing positive outcomes:? SettlementinFebruarypaidcashof$90milliontoBurfordonaGroup-widebasis? Trial win in February would result in $67 million of proceeds Group-wide if upheld and paid in full? ArbitrationawardinMarchwouldresultin$52millionofproceedstooneofourprivate funds if upheld and paid in full? Successful appellate resolution in March would result in approximately $400 million of proceeds Group-wide and approximately $100 million on a Burford-only basis• Record-breaking levels of new business on both a Group-wide and especially on a Burford-only basis as we continue to pivot in favor of balance sheet investing for our highest returning assets• Solid liquidity at year-end 2022, benefiting from realizations, collections and external capital raising• Interim dividend of 6.25¢ per ordinary share declared payable in June 2023
Fully agree youonly. This radio silence is demonstrating their lack of care. I’m not sure why the delay, makes you think the results are poor again and they were hoping for a Petersen update by now to lift the mood.
Since dual listed, results come out at noon UK time. Not after close.
Do feel it’s soon though.
The small short is working, due to low volume, low confidence, and no positive news for a few years now. Market and investors want to see results. All we can do is wait, only option Burford have is to wait - they don't hype the stock, I mean they have told us what they expect to gain from their investments in years ahead, but no one believes them it seems.
The website has had a slight update remodel, but last year's trading statements are just in a different location, which should be more obvious.
Usual pathetic volume in the UK.
The are certainly making shareholders wait, would expect some update by now or when results will be.
1.1 Million shares traded in the US today.
No SP movement.
Sorry, that’s ‘last time’
Could do with an edit button.
US chart looks very manipulated. I’ve seen this before, last night shares went up eventually.
Yea, it does that from time to time over the years. Huge volume in US and nothing. I think it’s shorts closing, but who knows.
Come on good news!
The US market reacts just like the UK on opening. Gets dragged down by the MM with short play then rises through out the day.
Fingers crossed for a positive trading update! Can’t be much worse than the last few, that’s for sure.
Don’t blame them. Terrible performance last few years.
Still I like the analysis predictions.
Because I will top up again if it falls even further. I’m doing small top ups, one this morning and then one before US opened.
Will trading these shares to, skimming profits. Everyone has different trading styles.
No one recently. Just Gladstone playing their games as usual.
Soon as confidence returns they will get burnt.
Have topped again just now. As maybe the bottom, but can’t see it dropping much further. Famous last words!
Little top up, but think it could fall further as being short both sides of the pond.
Litigation settlement overview
· Litigation concluded with $150m cash settlement to be paid in two equal tranches (by 5 March 2023 and by 3 February 2024)
· Nanoco retain over $90m net proceeds after litigation costs
Can say that again ffc my friend - awful lot of patience!
Blimey with muddy, then large holders selling their position, then courts closing on/off for 2 years. It’s been fairly horrific! But we add in the lows and keep strong!!
We will be rewarded