Last checked at 5 Oct 2023 13:40
05 October 2023
Litigation Capital Management Limited
("LCM" or the "Company")
Incentive Awards
Litigation Capital Management Limited (AIM:LIT), a leading international alternative asset manager of disputes financing solutions, announces that on 4 October 2023 it granted a number of incentive awards to employees and directors of the Company under the Deferred Bonus Share Plan ('DBSP').
The following table details the quantum of Awards granted and the recipients:
Employee | Position | Incentive Scheme | Number of Share/Options Awarded |
Patrick Moloney | Chief Executive Officer | DBSP | 167,043 |
Mary Gangemi | Chief Financial Officer | DBSP | 148,893 |
Susanna Taylor | Head of APAC | DBSP | 73,938 |
Non-PDMR Employees | Various | DBSP | 382,036 |
Deferred Bonus Share Plan ('DBSP')
The Company has in place a DBSP. Options over Ordinary Shares are issued to recipients under the Option awards. Options granted under the Plan are in the form of nil cost options and will vest in three equal tranches from the date of issue and are subject to continued employment over the three year period.
In addition, the Option awards are subject to malus and clawback provisions. In the event of a change of control of the Company, unvested awards will vest to the extent determined by the Board, taking into account the proportion of the period of time between grant and the normal vesting date that has elapsed at the date of the relevant event.
Employee Benefit Trust ('EBT')
The awards will be satisfied using the current EBT.
The figure 119,200,332 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
Enquiries
Litigation Capital Management | c/o Tavistock PR |
Patrick Moloney, Chief Executive Officer | |
Canaccord (Nomad and Joint Broker) | Tel: 020 7523 8000 |
Bobbie Hilliam | |
Investec Bank plc (Joint Broker) | Tel: 020 7597 5970 |
David Anderson | |
Tavistock PR | Tel: 020 7920 3150 |
Tim Pearson Katie Hopkins | lcm@tavistock.co.uk |
NOTES TO EDITORS
Litigation Capital Management (LCM) is an alternative asset manager specialising in disputes financing solutions internationally, which operates two business models. The first is direct investments made from LCM's permanent balance sheet capital and the second is third party fund management. Under those two business models, LCM currently pursues three investment strategies: Single-case funding, Portfolio funding and Acquisitions of claims. LCM generates its revenue from both its direct investments and also performance fees through asset management.
LCM has an unparalleled track record driven by disciplined project selection and robust risk management.
Currently headquartered in Sydney, with offices in London, Singapore, Brisbane and Melbourne, LCM listed on AIM in December 2018, trading under the ticker LIT.
www.lcmfinance.com
1. | Details of the Person discharging managerial responsibilities ("PDMR") / person closely associated with them ("PCA") | |||||||
a) | Name | Patrick John Moloney | ||||||
2. | Reason for the notification | |||||||
a) | Position / status | Executive Director | ||||||
b) | Initial notification / amendment | Initial notification | ||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Litigation Capital Management Limited | ||||||
b) | Legal Entity Identifier | 213800J2B5SI8F515244 | ||||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||
a) | Description of the financial instrument | Options over Ordinary Shares | ||||||
b) | Nature of the transaction | Grant of options: | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Aggregated price - Aggregated total |
167,043 options over ordinary shares | ||||||
e) | Date of the transaction | 4 October 2023 (UK) | ||||||
f) | Place of the transaction | Outside a trading venue | ||||||
1. | Details of the Person discharging managerial responsibilities ("PDMR") / person closely associated with them ("PCA") | |||||||
a) | Name | Mary Gangemi | ||||||
2. | Reason for the notification | |||||||
a) | Position / status | Executive Director | ||||||
b) | Initial notification / amendment | Initial notification | ||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Litigation Capital Management Limited | ||||||
b) | Legal Entity Identifier | 213800J2B5SI8F515244 | ||||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||
a) | Description of the financial instrument | Options over Ordinary Shares | ||||||
b) | Nature of the transaction | Grant of options: | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Aggregated price - Aggregated total |
148,893 options over ordinary shares | ||||||
e) | Date of the transaction | 4 October 2023 (UK) | ||||||
f) | Place of the transaction | Outside a trading venue | ||||||
1. | Details of the Person discharging managerial responsibilities ("PDMR") / person closely associated with them ("PCA") | |||||||
a) | Name | Susanna Taylor | ||||||
2. | Reason for the notification | |||||||
a) | Position / status | Head of APAC | ||||||
b) | Initial notification / amendment | Initial notification | ||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Litigation Capital Management Limited | ||||||
b) | Legal Entity Identifier | 213800J2B5SI8F515244 | ||||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||
a) | Description of the financial instrument | Option over ordinary shares | ||||||
b) | Nature of the transaction | Grant of options | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Aggregated price - Aggregated total |
73,938 options over ordinary shares | ||||||
e) | Date of the transaction | 4 October 2023 (UK) | ||||||
f) | Place of the transaction | Outside a trading venue | ||||||