18 Jan 2017 07:00
Juridica Investments Limited
('Juridica' or the 'Company')
Investment Manager ownership change
The Board of Juridica Investments Limited has been informed of a change in ownership at Juridica Asset Management Limited ("JAML" or the "Manager"), its investment manager.
Effective 11 January 2017, Richard Fields, founder and sole owner of JAML, sold the entirety of his interest to Mr. John Sicilian. Mr. Sicilian and Mr. William Yuen previously had performed investment and risk-related services for an affiliate of the Manager prior to the purchase of Mr. Fields' interest. Both have extensive corporate and private equity experience along with Mr. Sicilian's legal background. Mr. Yuen and Mr. Sicilian will be managing the private mandate referenced below and the Company's Run-Off Strategy as announced on 18 November 2015. The sale of Mr. Fields' interest was approved by the Guernsey Financial Services Commission in mid- December of 2016.
The remainder of the JAML team is unchanged and shall continue to support the Company's Run-Off Strategy. The Board does not believe that the ownership change within the Manager will have any adverse impact on the Company's commitment to maximising shareholder value.
Lord Brennan, Chairman of Juridica, said:
"I have had the pleasure of working with John and Bill over the last three years and I am confident that they will continue to facilitate the Company's commitment to maximising shareholder value."
In addition to assisting in the Company's Run-Off Strategy, the Manager shall continue to be an active participant in the litigation funding market. JAML shall continue to serve in its capacity as investment advisor for Brickell Key Investment Ltd ("BKI") a well-established institutional investor, as previously announced on 5 November 2014. BKI currently has a US$400 million commitment of which approximately US$150 million has been deployed. Going forward, the Manager shall be rebranded and conduct business as Brickell Key Asset Management Limited ("BKAML").
Mr. Fields will be available on a consulting basis to assist BKAML's team in completing the Company's Run-Off Strategy through 2017.
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For further information contact:
Juridica Asset Management Limited Bill Yuen
| +1 (917) 388 3582
|
Cenkos Securities PLC (Nominated Adviser and Broker) Nicholas Wells Camilla Hume
| +44 (0) 20 7397 8900 |
Investec Bank PLC (Joint Broker) Darren Vickers Jeremy Ellis
| +44 (0)20 7597 4000 |
Bell Pottinger Olly Scott | +44 (0) 20 3772 2567 |