Last checked at 20 Apr 2018 14:48
This announcement contains inside information.
20 April 2018
BURFORD CAPITAL STATEMENT ON INVESCO SHAREHOLDING
Burford Capital Limited ("Burford" or "the Company"), the leading global finance and investment management firm focused on law, has been informed by Invesco Perpetual ("Invesco") that it has completed a block sale of approximately 2.59 million shares of Burford's common stock.
Following this sale, Invesco owns 17.78% of Burford and its shareholding remains a core position in Invesco's funds. Invesco has further informed Burford that its position is now a manageable size which Invesco is comfortable maintaining in the context of its funds.
Christopher Bogart, Burford's Chief Executive Officer, commented:
"Burford is incredibly grateful for Invesco's longstanding support. When we launched this business as a start-up in a nascent market, Invesco had the courage not merely to back our concept, but to ensure that our IPO succeeded, initially taking a 45% stake in the business.
"Since then, Invesco has remained a steadfast and supportive shareholder throughout Burford's evolution. However, it is not optimal for a public company to have that degree of ownership concentration, and Invesco has slowly reduced its stake over time to less than half of its original position, allowing Burford to engage many new shareholders and increase daily equity liquidity substantially to the benefit of all shareholders.
"We are very pleased that Invesco has completed this recent stock sale which allows for further diversification of Burford's ownership as well as taking Invesco to a comfortable level of shareholding."
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 | |
Jonathan Abbott | |
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