Last checked at 15 Mar 2019 17:10
15 March 2019
Notification of transactions by persons discharging managerial responsibilitiesBurford Capital Limited ("Burford"), the leading global finance and investment management firm focused on law, has been notified of certain estate planning and charitable giving transactions by Christopher P. Bogart, Burford's Chief Executive Officer, and Jonathan Molot, Burford's Chief Investment Officer.
Estate planning
As announced previously, Mr Molot transferred 4,000,000 ordinary shares in Burford to Jonathan Molot LLC (the "LLC"), a company which is controlled by Mr Molot. Ongoing annual movement of ownership interests in the LLC back-and-forth between Mr Molot and annual trusts established by Mr Molot of which he and his family members are the beneficiaries is expected as a normal part of the US estate planning undertaken. A further such movement occurred as of 15 March 2019 with a 23.19796 % interest in the LLC being returned to Mr Molot from the Jonathan T. Molot 2017 Trust.
These transfers do not affect the overall interest in shares in Burford held by Mr Molot and the associated annual trusts.
Charitable giving
Messrs Bogart and Molot have each established US charitable foundations and have each donated 250,000 ordinary shares in Burford to their respective foundation; in Mr Bogart's case, those shares were returned to Mr Bogart from Christopher Bogart LLC before their gift to the foundation, and in Mr Molot's case, those shares were held by him personally. The foundations intend to give that donated stock to various charitable organizations over time, with a multi-year giving horizon.
The Notification of Dealing Forms for each of the transfers mentioned above are included at the end of this announcement. These notifications are provided in accordance with the requirements of the Market Abuse Regulation.
For further information, please contact:
Burford Capital Limited |
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Elizabeth O'Connell, CFA, Chief Financial Officer | +1 212 235 6825 |
Macquarie Capital (Europe) Limited - NOMAD and Joint Broker | +44 (0)20 3037 2000 |
Jonny Allison |
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Nicholas Harland |
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Liberum Capital Limited - Joint Broker | +44 (0)20 3100 2222 |
Richard Crawley |
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Jamie Richards |
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Numis Securities Limited - Joint Broker | +44 (0)20 7260 1000 |
Charlie Farquhar |
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Jonathan Abbott |
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Montfort Communications Limited - Financial Communications | +44 (0)20 3770 7908 |
Robert Bailhache - email |
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About Burford Capital
Burford Capital is the leading global finance and investment management firm focused on law. Its businesses include litigation finance and risk management, asset recovery and a wide range of legal finance and advisory activities. Burford is publicly traded on the London Stock Exchange, and it works with law firms and clients around the world from its principal offices in New York, London, Chicago, Washington DC, Singapore and Sydney.
For more information about Burford: www.burfordcapital.com
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| (a) Name | Jonathan T. Molot 2017 Trust | |
2 | Reason for the notification | ||
| (a) Position/status | A person closely associated with Jonathan Molot, a PDMR occupying the position of Chief Investment Officer | |
| (b) Initial notification /Amendment | Initial | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| (a) Name | Burford Capital Limited | |
| (b) LEI | 549300FUKUWFYJMT2277 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| (a) Description of the financial instrument, type of instrument | 23.19796% interest in Jonathan Molot LLC, whose sole asset is 4,000,000 shares in Burford Capital Limited | |
| Identification code | N/A | |
| (b) Nature of the transaction | Transfer of membership interests to Jonathan Molot | |
| (c) Price(s)and volume(s) | Price(s) | Volume(s) |
Zero | 23.19796% interest | ||
|
| ||
| (d) Aggregated information · Aggregated volume · Price | N/A | |
| (e) Date of the transaction | 15 March 2019 | |
| (f) Place of the transaction | N/A | |
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| (a) Name | Jonathan Molot | |
2 | Reason for the notification | ||
| (a) Position/status | A PDMR occupying the position of Chief Investment Officer | |
| (b) Initial notification /Amendment | Initial | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| (a) Name | Burford Capital Limited | |
| (b) LEI | 549300FUKUWFYJMT2277 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| (a) Description of the financial instrument, type of instrument | 23.19796% interest in Jonathan Molot LLC, whose sole asset is 4,000,000 shares in Burford Capital Limited | |
| Identification code | N/A | |
| (b) Nature of the transaction | Transfer of membership interests from Jonathan T. Molot 2017 Trust | |
| (c) Price(s)and volume(s) | Price(s) | Volume(s) |
Zero | 23.19796% interest | ||
|
| ||
| (d) Aggregated information · Aggregated volume · Price | N/A | |
| (e) Date of the transaction | 15 March 2019 | |
| (f) Place of the transaction | N/A | |
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| (a) Name | Christopher Bogart | |
2 | Reason for the notification |
| |
| (a) Position/status | A PDMR occupying the position of Chief Executive Officer | |
| (b) Initial notification /Amendment | Initial | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| (a) Name | Burford Capital Limited | |
| (b) LEI | 549300FUKUWFYJMT2277 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| (a) Description of the financial instrument, type of instrument | Ordinary shares of nil par value | |
| Identification code | GG00B4L84979 | |
| (b) Nature of the transaction | Transfer of shares from Christopher Bogart LLC | |
| (c) Price(s)and volume(s) | Price(s) | Volume(s) |
Zero | 250,000 | ||
|
| ||
| (d) Aggregated information · Aggregated volume · Price | N/A | |
| (e) Date of the transaction | 15 March 2019 | |
| (f) Place of the transaction | N/A | |
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| (a) Name | Christopher Bogart LLC | |
2 | Reason for the notification | ||
| (a) Position/status | A person closely associated with Christopher Bogart, a PDMR occupying the position of Chief Executive Officer | |
| (b) Initial notification /Amendment | Initial | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| (a) Name | Burford Capital Limited | |
| (b) LEI | 549300FUKUWFYJMT2277 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| (a) Description of the financial instrument, type of instrument | Ordinary shares of nil par value
| |
| Identification code | GG00B4L84979 | |
| (b) Nature of the transaction | Transfer of shares to Christopher Bogart | |
| (c) Price(s)and volume(s) | Price(s) | Volume(s) |
Zero | 250,000 | ||
|
| ||
| (d) Aggregated information · Aggregated volume · Price | N/A | |
| (e) Date of the transaction | 15 March 2019 | |
| (f) Place of the transaction | N/A | |
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| (a) Name | Christopher Bogart | |
2 | Reason for the notification | ||
| (a) Position/status | A PDMR occupying the position of Chief Executive Officer | |
| (b) Initial notification /Amendment | Initial | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| (a) Name | Burford Capital Limited | |
| (b) LEI | 549300FUKUWFYJMT2277 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| (a) Description of the financial instrument, type of instrument | Ordinary shares of nil par value | |
| Identification code | GG00B4L84979 | |
| (b) Nature of the transaction | Transfer of shares to The Christopher Bogart and Elizabeth O'Connell Foundation | |
| (c) Price(s)and volume(s) | Price(s) | Volume(s) |
Zero | 250,000 | ||
|
| ||
| (d) Aggregated information · Aggregated volume · Price | N/A | |
| (e) Date of the transaction | 15 March 2019 | |
| (f) Place of the transaction | N/A | |
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| (a) Name | The Christopher Bogart and Elizabeth O'Connell Foundation | |
2 | Reason for the notification | ||
| (a) Position/status | A person closely associated with Christopher Bogart, a PDMR occupying the position of Chief Executive Officer | |
| (b) Initial notification /Amendment | Initial | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| (a) Name | Burford Capital Limited | |
| (b) LEI | 549300FUKUWFYJMT2277 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| (a) Description of the financial instrument, type of instrument | Ordinary shares of nil par value | |
| Identification code | GG00B4L84979 | |
| (b) Nature of the transaction | Transfer of shares from Christopher Bogart | |
| (c) Price(s)and volume(s) | Price(s) | Volume(s) |
Zero | 250,000 | ||
|
| ||
| (d) Aggregated information · Aggregated volume · Price | N/A | |
| (e) Date of the transaction | 15 March 2019 | |
| (f) Place of the transaction | N/A | |
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| (a) Name | Jonathan Molot | |
2 | Reason for the notification | ||
| (a) Position/status | A PDMR occupying the position of Chief Investment Officer | |
| (b) Initial notification /Amendment | Initial | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| (a) Name | Burford Capital Limited | |
| (b) LEI | 549300FUKUWFYJMT2277 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| (a) Description of the financial instrument, type of instrument | Ordinary shares of nil par value | |
| Identification code | GG00B4L84979 | |
| (b) Nature of the transaction | Transfer of shares to The Jonathan Molot and Hattie Ruttenberg Foundation | |
| (c) Price(s)and volume(s) | Price(s) | Volume(s) |
Zero | 250,000 | ||
|
| ||
| (d) Aggregated information · Aggregated volume · Price | N/A | |
| (e) Date of the transaction | 15 March 2019 | |
| (f) Place of the transaction | N/A | |
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| (a) Name | The Jonathan Molot and Hattie Ruttenberg Foundation | |
2 | Reason for the notification | ||
| (a) Position/status | A person closely associated with Jonathan Molot, a PDMR occupying the position of Chief Investment Officer | |
| (b) Initial notification /Amendment | Initial | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| (a) Name | Burford Capital Limited | |
| (b) LEI | 549300FUKUWFYJMT2277 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| (a) Description of the financial instrument, type of instrument | Ordinary shares of nil par value
| |
| Identification code | GG00B4L84979 | |
| (b) Nature of the transaction | Transfer of shares from Jonathan Molot | |
| (c) Price(s)and volume(s) | Price(s) | Volume(s) |
Zero | 250,000 | ||
|
| ||
| (d) Aggregated information · Aggregated volume · Price | N/A | |
| (e) Date of the transaction | 15 March 2019 | |
| (f) Place of the transaction | N/A | |