Watch the latest episode of focusIR Fireside Chats: Why Edinburgh Investment Trust Is Backing Turnaround Stocks for 2026 Growth. Viewhere

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBurford Capital Regulatory News (BUR)

Share Price Information for Burford Capital (BUR)

Share Price is delayed by 15 minutes
Get Live Data
312.20    3.80 (1.23%)
Bid:
314.00
Ask:
318.80
Spread: 4.80 (1.529%)
Market Cap: £683.93m
BUR Live PriceLast checked at - London Stock Exchange

Intraday Burford Capital Share Chart

Significant Growth in Investment Commitments

10 Jan 2018 07:00

RNS Number : 4195B
Burford Capital
10 January 2018
 

This announcement contains inside information.

 

10 January 2018

 

BURFORD CAPITAL REPORTS SIGNIFICANT GROWTH IN INVESTMENT COMMITMENTS

 

2017 commitments exceed $1.3 billion, more than triple 2016 level

Company also advises re financial calendar and investor meetings re possible bond issue

 

Burford Capital Limited ("Burford" or "the Company"), a leading global finance and investment management firm focused on law, today reports on the strong growth in its new investment commitments.

 

In 2017, Burford made $1.3 billion in new commitments, more than triple its 2016 level. The new commitments reflect a number of dynamics in Burford's business: continued growth in demand for capital in its core litigation finance business; access to capital through direct balance sheet investing and its new investment management business; and continued expansion of Burford's product offerings and investment strategies.

 

The new commitments are broken out below in the same categories used in Burford's interim results for the six months ended 30 June 2017 and investors are referred to Burford's 2017 interim report for an explanation of those categories (available at http://www.burfordcapital.com/investors/financial-reports-and-presentations/).

 

Total Investment Commitments made during financial year ended 31 December 2017

 

Balance sheet

commitments

 

Fund & other vehicle commitments

Single case finance

$34.4m

5%

$38.3m

6%

Portfolio finance

$377.8m

54%

$347.7m

54%

Recourse finance

$226.9m

33%

$248.4m

38%

Legal risk management

$59.2m

8%

$10.8m

2%

Total

$698.3m

100%

$645.2m

100%

Total Investment Commitments

$1,343.5m

 

 

Investor Meetings re Possible Bond Issue

 

Given the growth Burford has experienced, the Company intends to hold meetings with fixed income investors. A bond issue may follow subject to market conditions and pricing.

 

 

Notice of Results for the Financial Year ended 31 December 2017

 

Burford intends to release its full year results on 14 March 2018 and will host a conference call for investors and analysts at 2pm London time (GMT) / 10am New York time (EDT) that day.

 

As previously noted, Burford's board of directors determines the fair values of investments following the close of each financial reporting period after taking into account the views of management, the operation of the audit process and input from external experts (as it considers appropriate). Generally, that process does not conclude finally until shortly before the release of Burford's financial results for the relevant period and as a result Burford is unable to comment or provide guidance on its 2017 financial results in advance of their release.

 

 

Christopher Bogart, Burford's Chief Executive Officer, commented:

"We are delighted with the growth of the business in 2017. The new commitments made during the year have the potential to generate significant future income in the years to come and reflect a robust legal finance market that Burford continues to lead."

 

 

The person responsible for arranging for the release of this announcement on behalf of the Company is Elizabeth O'Connell, Chief Financial Officer.

 

 

For further information, please contact:

 

Burford Capital Limited

 

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

 

Nicholas Harland

 

 

 

Liberum Capital Limited - Joint Broker

+44 (0)20 3100 2222

Richard Crawley

 

Jamie Richards

 

 

 

Numis Securities Limited - Joint Broker

+44 (0)20 7260 1000

Charlie Farquhar

 

Harry Trueman

 

 

 

Neustria Partners - Financial Communications for Burford Capital

+44 (0)20 3021 2580

Robert Bailhache [email]

 

Charles Gorman [email]

 

Nick Henderson [email]

 

 

 

About Burford Capital

Burford Capital is a 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 and Singapore.

For more information about Burford: www.burfordcapital.com

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTEANFNEESPEFF
Date   Source Headline
23rd Mar 20117:00 amRNSFull Year Results
25th Jan 20117:00 amRNSExpansion of Investment Advisor
23rd Dec 20101:33 pmRNSNotification of major Interest In Shares
17th Dec 20102:46 pmRNSNotification Of Major Interest In Shares
14th Dec 20104:52 pmRNSNotification of Major Interest in Shares
9th Dec 201011:00 amRNSBurford Capital Completes $175 Million Placing
24th Nov 20109:11 amRNSBurford Capital raises $175 million
2nd Nov 20107:00 amRNSTrading Update
20th Sep 20102:44 pmRNSName change of nominated adviser
24th Aug 20103:44 pmRNSNotification Of Major Interest In Shares
18th Aug 20107:00 amRNSAppointment of Joint Broker
18th Aug 20107:00 amRNSInterim Results 2010
28th Jul 20108:03 amRNSPortfolio Update
19th May 20105:59 pmRNSDirector purchase of shares
14th May 20109:23 amRNSDirector purchase of shares
12th May 20105:09 pmRNSDirector purchase of shares
27th Apr 20107:00 amRNSTrading Update
9th Apr 201011:41 amRNSNotification of Major Interests in Shares
21st Jan 20107:00 amRNSInterim Management Statement
23rd Nov 20097:00 amRNSBurford Capital Announces First Two Investments
26th Oct 20093:00 pmRNSNotification in major interest in shares
26th Oct 20092:57 pmRNSNotification in major interest in shares
23rd Oct 20093:06 pmRNSNotification in major interest in shares
23rd Oct 20093:05 pmRNSNotification in major interest in shares
21st Oct 20097:00 amRNSCompletion of IPO and Commencement of Trading
25th Feb 20083:19 pmRNSHolding(s) in Company
21st Feb 20081:53 pmRNSHolding(s) in Company
19th Feb 200812:51 pmRNSHolding(s) in Company
14th Feb 20083:33 pmRNSCompulsory Acqn of Shares
13th Feb 20084:32 pmRNSIssue of Equity
12th Feb 200812:41 pmRNSHolding(s) in Company
11th Feb 20083:46 pmRNSHolding(s) in Company
8th Feb 20084:30 pmRNSHolding(s) in Company
8th Feb 20084:20 pmRNSIssue of Equity
7th Feb 200810:24 amRNSHolding(s) in Company
6th Feb 200811:26 amRNSHolding(s) in Company
1st Feb 20087:43 amRNSRe: Offer Update
1st Feb 20087:30 amRNSOffer Update
18th Jan 20085:04 pmRNSNotification of Interest
15th Jan 20084:33 pmRNSNotification of Interest
14th Jan 200810:01 amRNSEPT Disclosure
14th Jan 20087:01 amRNSStatement re Trading Update
11th Jan 20083:15 pmBUSRule 8.3 - Burren Energy plc
11th Jan 20082:00 pmRNSRule 8.3- Burren Energy
11th Jan 200812:02 pmRNSEPT Disclosure
11th Jan 200811:48 amRNSEPT Disclosure
11th Jan 20089:55 amRNSEPT Disclosure
11th Jan 20087:25 amRNSOffer Update
10th Jan 20083:46 pmRNSStatement re Burren Energy
10th Jan 20082:58 pmRNSRule 8.3- (add security name)

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.