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Portfolio update

7 Feb 2014 07:00

RNS Number : 5218Z
Juridica Investments Limited
07 February 2014
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Juridica Investments Limited

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('Juridica' or the 'Company')

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Portfolio update

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Juridica, a leading provider of strategic capital for corporate legal claims to both businesses and the legal markets, provides the following update on developments in its portfolio.

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In the Company's Commercial portfolio, US$7.0 million of proceeds were received in December 2013:

Β§ Case 2510 completed, delivering US$3.0 million on an investment of US$1.0 million; and

Β§Β Case 1610 delivered just over US$4.0 million and is ongoing. Juridica's investment in this case totals US$4.0 million and, in addition, the Company retains a preferred share option over 33% of its client's hard asset, which is being prepared for sale.

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In addition, Case 5009-S has been certified for trial and is awaiting assignment of a trial date, which is expected to be in the current calendar year.

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Further developments in the Company's Antitrust portfolio include:

Β§ The trial of Case 8008-L, which was set to begin in the first quarter of 2014, has been delayed following an adverse ruling on the scope of Plaintiffs' claim. Advice has been received to the effect that the ruling is expected to be partially or wholly overturned in favour of the Plaintiff on appeal. While the appeal may cause a nine to eighteen month delay in the completion of the matter, the case could still resolve pending the ruling on appeal. The Company's investment has thus far delivered proceeds to the Company in excess of US$69 million;

Β§ Case 1208-A is set for trial in the second quarter of 2014. The trial is expected to focus on damages, as liability has already been established at the trial court level and upheld on appeal. Whilst damages claimed exceed US$1.0 billion it is not possible to estimate the Company's share which can only be determined once there is a court award or settlement reached.

Β§ As previously reported, Case 5208-E is scheduled for trial in the second quarter of 2014; and

Β§ Case 5308-U is awaiting the setting of a trial date. Pre-trial merits discovery is complete. Challenges to expert opinions remain pending.

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In the Patent portfolio, as a result of its strategic relationship with IpCreate, the Company is conducting due diligence on several interesting patent investments, including additional investments in some of its existing patent investments. The Company is also evaluating further antitrust investments and one recently obtained judgment.

- Ends -

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This document contains forward looking statements, which are based on Juridica Asset Management Limited's (JAML) current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a number of variables which could cause actual results or trends to differ materially. Each forward looking statement speaks only as of the date of this announcement. Except as required by the AIM Rules, the London Stock Exchange or otherwise by law, the Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward looking statements contained herein to reflect any change in the Company's or JAML's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

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For further information contact:

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Juridica Asset Management Limited

Richard W. Fields

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+1 (866) 443 1080

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Cenkos Securities PLC

(Nominated Adviser and Broker)

Nicholas Wells

Camilla Hume

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+44 (0) 20 7397 8900

Investec Bank PLC

(Joint Broker)

Jeremy Ellis

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+44 (0)20 7597 4000

Peel Hunt LLP

(Joint Broker)

Guy Wiehahn

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+44 (0)20 7418 8900

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Bell Pottinger

Olly Scott

+44 (0) 20 7861 3232

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About Juridica Investments Limited

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Juridica Investments is a leading provider of strategic capital to the business community and the legal markets for corporate claims. It invests directly and indirectly in a diversified portfolio of corporate claims in litigation and arbitration. Juridica is one of the premier sources of value-added and direct financing for large business claims in the United States and one of the leading sources in the United Kingdom.

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The Company's clients are Fortune 1000 companies, FT Global 500 companies, inventors, major universities, and the leading law firms that represent them. Juridica only accepts cases that have already been carefully vetted and undertaken by leading lawyers.

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Juridica works to make the legal system work better for business claims. It does not invest in speculative claims or claims that do not demonstrate economic value and clear merits. Juridica invests only in business claims, and does not invest in class actions, personal injury, product liability, or mass tort claims.

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The Company's goal is to provide business clients with financial choices that reduce risk and assist in maximising claim value.

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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. It was the pioneer in alternative litigation financing and the first closed-end fund of its kind ever listed on AIM, a market operated by the London Stock Exchange (AIM: JIL.L).

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The Company has appointed Juridica Asset Management Limited as its exclusive investment manager to locate, evaluate and manage direct and indirect investments in cases, claims and disputes.

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http://www.juridicainvestments.com

This information is provided by RNS
The company news service from the London Stock Exchange
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END
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