Last checked at 23 Nov 2023 16:51
23 November 2023
Litigation Capital Management Limited
("LCM" or the "Company")
Exercise of Awards
Litigation Capital Management Limited (AIM:LIT), a leading international alternative asset manager of disputes financing solutions, announces that Mary Gangemi, a Person Discharging Managerial Responsibilities (PDMR), exercised options over 67,108 ordinary shares of which 36,848 are being retained and held and 30,260 have been sold to cover tax arising from the sale. Following the exercise Mary Gangemi has an interest 64,348 ordinary shares, representing 0.05 per cent. of the issued share capital of the Company.
In addition to the above, a further 20,885 ordinary shares have been exercised by various non-PDMR employees.
The awards set out above were initially granted under the Company Deferred Bonus Share Plan ('DBSP') on 4 October 2022 and have been satisfied by the Employee Benefit Trust
Employee Benefit Trust ('EBT')
The Company has an EBT. The EBT is a discretionary trust for the benefit of the Company's employees, including the Directors of the Company. Following the exercise of the options detailed above, the EBT of the Company currently holds 4,662,027 Ordinary Shares, representing 3.91 per cent. of the of the Company's total voting rights.
For reference, the figure of 119,121,232 should 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 |
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Mary Gangemi, Chief Financial Officer |
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Canaccord (Nomad and Joint Broker) | Tel: 020 7523 8000 |
Bobbie Hilliam | |
Alex Orr | |
Investec Bank plc (Joint Broker) | Tel: 020 7597 5970 |
David Anderson | |
Tavistock PR | Tel: 020 7920 3150 |
Tim Pearson | lcm@tavistock.co.uk |
Katie Hopkins |
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
This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014 as amended by regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the publication of this announcement, this information is now considered to be in the public domain Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
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 | CFO | ||||||
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 | Exercise of option over ordinary shares | ||||||
b) | Nature of the transaction | Exercise of options to hold | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Aggregated price - Aggregated total |
67,108 options over ordinary shares Nil(p) | ||||||
e) | Date of the transaction | 22 November 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 | CFO | ||||
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 | Ordinary shares | ||||
b) | Nature of the transaction | Sale of ordinary shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Aggregated price - Aggregated total |
30,260 ordinary shares 102.25p | ||||
e) | Date of the transaction | 22 November 2023 (UK) | ||||
f) | Place of the transaction | Outside a trading venue | ||||