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29 Oct 2021 13:24
29 October 2021
Litigation Capital Management Limited
("LCM" or the "Company")
Exercise of Options, Issue of Equity, Director / PDMR Shareholding
Litigation Capital Management Limited (AIM:LIT), a leading international alternate asset manager of disputes financing solutions, announces:
Executive CEO
On 27 October 2021 Patrick Moloney, Chief Executive Officer of the Company exercised 900,000 options (the "Executive Options") at an exercise price of A$1.00. The Company has agreed to issue and allot in total 900,000 new Ordinary Shares ("Ordinary Shares") in the capital of the Company to Patrick Moloney. Following Admission, Patrick Moloney will hold 10,153,258 shares and 8.55% of the issued share capital.
The LCM Loan Share Plan ("LSP") will be utilised to pay the strike price.
Non-Executive Directors
On 27 October 2021 Seistend Pty Ltd, an entity associated with Dr David King, a non-executive director of the Company, exercised 600,000 options (the "Non-Executive Options") at an exercise price of A$1.00. The Company has agreed to issue and allot in total 600,000 new Ordinary Shares in the capital of the Company.
The Executive Options and the Non-Executive Options were granted on 21 September 2016.
The Company has made an application for the 1,500,000 Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to become effective on 5 November 2021.
Concurrently with the exercise, Seistend Pty Ltd, an entity associated with Dr David King sold 250,000 Ordinary Shares to Jonathan Moulds, Chairman of the Company, at a price of GBP £1.00.
Following Admission, Seistend Pty Ltd, an entity associated with Dr David King, and Jonathan Moulds will hold 1,951,484 and 250,000 Ordinary Shares respectively, and 1.64% and 0.21% of the Company's 118,699,145 Ordinary Shares in issue, each with voting rights.
This figure of 118,699,145 Ordinary Shares may be used by shareholders in the Company 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 share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules. The Company does not hold any Ordinary Shares in Treasury.
Enquiries
Litigation Capital Management | c/o Alma PR |
Patrick Moloney, Chief Executive Officer |
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Canaccord (Nomad and Joint Broker) | Tel: 020 7523 8000 |
Bobbie Hilliam |
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Investec Bank plc (Joint Broker) | Tel: 020 7597 5970 |
David Anderson |
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Alma PR | Tel: 020 3405 0205 |
Justine James Kieran Breheny Molly Gretton | LCM@almapr.co.uk |
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NOTES TO EDITORS
Litigation Capital Management (LCM) is an alternate 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 | Seistend Pty Ltd, an entity associated with Dr David King | ||||
2. | Reason for the notification | |||||
a) | Position / status | Non-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 | Ordinary Shares | ||||
b) | Nature of the transaction | Exercise of Options | ||||
c) | Price(s) and volume(s) |
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d) | Aggregated information - Aggregated volume - Aggregated price - Aggregated total |
N/A - single transaction | ||||
e) | Date of the transaction | 27 October 2021 (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 | Seistend Pty Ltd, an entity associated with Dr David King | ||||
2. | Reason for the notification | |||||
a) | Position / status | Non-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 | Ordinary Shares | ||||
b) | Nature of the transaction | Sell of Ordinary Shares | ||||
c) | Price(s) and volume(s) |
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d) | Aggregated information - Aggregated volume - Aggregated price - Aggregated total |
N/A - single transaction | ||||
e) | Date of the transaction | 27 October 2021 (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 | Jonathan Moulds | ||||
2. | Reason for the notification | |||||
a) | Position / status | Chairman | ||||
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 | Purchase of Ordinary Shares | ||||
c) | Price(s) and volume(s) |
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d) | Aggregated information - Aggregated volume - Aggregated price - Aggregated total |
N/A - single transaction | ||||
e) | Date of the transaction | 27 October 2021 (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 | 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 | Ordinary Shares | ||||
b) | Nature of the transaction | Interest in Ordinary Shares under a Loan Share Plan | ||||
c) | Price(s) and volume(s) |
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d) | Aggregated information - Aggregated volume - Aggregated price - Aggregated total |
N/A - single transaction | ||||
e) | Date of the transaction | 27 October 2021 (UK) | ||||
f) | Place of the transaction | Outside a trading venue | ||||
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