Burford Capital Regulatory News (BUR)

21 Oct 2009 07:00

RNS Number : 1235B Burford Capital 21 October 2009 21 October 2009 Burford Capital Announces Completion of IPO and Commencement of Trading Burford Capital Limited ("Burford Capital" or the "Company"), the commercialdispute investor, today announces the successful completion of its IPO and admissionof its 80 million ordinary shares to the AIM Market of the London Stock Exchangeplc ("Admission"). Unconditional dealing in its shares will commence at 8.00amthis morning. Burford Capital's ticker symbol is BUR. Fox-Pitt, Kelton Limited is acting as NominatedAdviser and Broker to the Company. Execution Limited acted as Co-Lead Manager onthe IPO. For further information, please contact: Fox-Pitt, Kelton Limited Marc Milmo +44 (0)20 7663 6011 Jonny Franklin-Adams +44 (0)20 7663 6029 Financial Dynamics Rob Bailhache +44 (0)20 7269 7200 Nick Henderson +44 (0)20 7269 7114 www.burfordcapital.com Notes to Editors Burford Capital's strategy is to create and manage a portfolio of commercial disputefinancing investments diversified by duration, claim type, geography and a numberof other variables, with the aim of providing shareholders with attractive levelsof dividends and capital growth. The Company expects returns to be uncorrelated togeneral equity market performance. In the short term, the Company intends to focus on commercial disputes in the UnitedStates and on international arbitration matters; in the medium term, the Companymay expand its focus to other attractive and suitable jurisdictions. In the absence of unforeseen circumstances, the Company anticipates that the netproceeds of the IPO should be fully invested (or committed to be invested) within18 to 24 months of Admission. Burford Group Limited (the "Investment Adviser") will act as Investment Adviserto the Company. The principals of the Investment Adviser are Christopher Bogart andSelvyn Seidel. Mr. Seidel has 40 years of experience as a practising litigator andchaired a variety of litigation and arbitration activities and cases for one of thelargest law firms in the world. Mr. Bogart has been a practising litigator, the generalcounsel of a Fortune 50 corporation managing a portfolio of litigation, and an investmentmanager. The Company is chaired by Sir Peter Middleton, former Group Chairman and Group ChiefExecutive of Barclays Bank plc. Sir Peter is currently UK Chairman of Marsh & McLennanCompanies, Chairman of Camelot Group plc and Chairman of the Centre for EffectiveDispute Resolution, and also chaired a review of Civil Justice for the Blair Government. Neither this announcement nor its distribution to any person (i) constitutes or formspart of any offer or invitation to sell or issue or purchase or subscribe for anyshares or other securities in the Company or (ii) may be relied on for the purposeof any contract for the acquisition of any such shares or securities. Neither thisannouncement, nor any copy of it, may be taken or transmitted into the United States,Canada, Australia, Japan or South Africa (save pursuant to a relevant exemption fromapplicable securities laws, if any) or into any jurisdiction where doing so wouldbe unlawful. Any failure to comply with this restriction may constitute a violationof relevant local securities laws. The securities referred to in this announcement have not been and will not be registeredunder the US Securities Act of 1933, as amended ("the US Securities Act") or underthe securities laws of any State of or other jurisdiction within the United States,and, subject to certain exceptions, no shares or other securities of the Companymay be offered or sold, resold or delivered, directly or indirectly, in or into theUnited States, or to, or for the account or benefit of, any US persons (as definedin Regulation S under the US Securities Act). No action will be taken in relationto any other jurisdiction to register or qualify any such shares or securities foroffer and sale in or into that jurisdiction, and no offer and sale of any such sharesor securities will be made in any jurisdiction where any such action would be required. -------------------------------------------------------------------------------- This information is provided by RNS The company news service from the London Stock Exchange END