20 May 2011 07:00
Juridica Investments Limited
('Juridica' or the 'Company')
Portfolio update
Juridica, a leading provider of strategic capital to both businesses and the legal markets for corporate claims, is pleased to announce a favourable and complete resolution of Case 6509-A, which involved a significant judgment obtained in an action for breach of contract, fraud, and related claims in a US federal court. The resolution occurred following the confirmation by the appeals court of the favourable jury verdict achieved at the district court level.
The case will generate US$4.5 million for the Company delivering an internal rate of return of 54% on an initial investment of US$2.4 million. The case completed within 17 months of the 23 December 2009 investment date.
Richard W. Fields, Chairman and Chief Executive of Juridica Capital Management, the Investment Manager, said: "We are delighted to have maintained our excellent investment record for fully completed cases and delivered another positive result for shareholders. Looking to the future, as outlined in our recent results statement, we expect that a further three to six cases have the possibility of completing in the next six to 18 months. We are optimistic that the portfolio will continue to deliver high quality returns."
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For more information please contact:
Juridica Capital Management Limited Richard Fields, Chief Executive
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+1 866 443 1080 |
Cenkos Securities plc (Nominated Adviser and Broker) Nicholas Wells Camilla Hume
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+44 (0)20 7397 8900
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Pelham Bell Pottinger David Rydell Olly Scott
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+44 (0)20 7861 3232
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About Juridica
Juridica is a leading provider of capital to the business community and the legal market. It invests directly and indirectly in a diversified portfolio of commercial claims and disputes. The Company's objective is to be the premier source of value-added and direct financing or large business claims, especially in the United States and the United Kingdom.
Our clients are Fortune 1000 companies, FT Global 500 companies, small businesses, inventors, major universities and the leading law firms that represent them. Juridica accepts only cases that have already been carefully vetted and accepted by qualified lawyers, does not invest in speculative cases and accepts only a small fraction of the cases reviewed.
The Company focuses exclusively on business-to-business related claim investments. It does not invest in shareholder class actions, personal injury, product liability, or mass tort claims.
Juridica was established on 21 December 2007 as a limited liability, closed-ended investment company registered in Guernsey. It has over US$200 million of assets under management and is listed on AIM, a market operated by the London Stock Exchange (AIM: JIL).
The Company has appointed Juridica Capital Management Limited as its exclusive investment manager to locate, select and manage direct and indirect investments in cases, claims and disputes.
For more information visit Juridica at http://www.juridicainvestments.com