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Pin to quick picksLitigation Cap. Regulatory News (LIT)

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Funding of Corporate Portfolio Transaction

13 Jun 2019 07:00

RNS Number : 0321C
Litigation Capital Management Ltd
13 June 2019
 

13 June 2019

Litigation Capital Management Limited

("LCM" or the "Company")

 

Funding of Corporate Portfolio Transaction

 

Litigation Capital Management Limited (AIM:LIT) (LCM), a leading international provider of litigation financing solutions, announces it has signed an agreement to fund a corporate portfolio transaction with a leading global aviation business.

 

The global aviation business portfolio transaction will:

§ fund 38 worldwide disputes and contractual claims arising from the operations of the corporate;

§ be for an initial five-year rolling period with optionality to extend the number of cases and the size of finance available; and

§ be the second corporate portfolio transaction funded by LCM and the first originating from the global cooperation agreement announced by the Company on 25 March 2019.

 

LCM remains one of very few litigation funders globally to have executed corporate portfolio transactions and the only one in the industry actively originating and executing these types of transactions. This type of investment remains an area of focus and growth for the Company. The current pipeline includes a further eight corporate portfolio transactions. The Company intends to make further announcements in the future as and when further agreements are signed.

 

Commenting on the new corporate portfolio transaction, Patrick Moloney, Chief Executive Officer of LCM, said:

 

"We are delighted to be announcing our second corporate portfolio transaction and the first originating from our global cooperation agreement with a leading international law firm. This clearly demonstrates the positive and mutually beneficial nature of the agreement and our ability to generate business through our network of trusted partners.

 

LCM possesses one of the most experienced teams at originating and executing global corporate portfolio transactions and we will continue to focus on providing litigation financing solutions to corporate clients. This is a key growth area for LCM and a point of differentiation for us, especially given the highly skilled and experienced team we have in London, led by Nick Rowles-Davies."

 

Nick Rowles-Davies, Executive Vice Chairman of LCM, said:

 

"This global funding deal for an aviation business demonstrates our ability to convert corporate portfolio transactions and is exactly the strategy we outlined at the time of our listing in London in December 2018. Aviation is one of many sectors that will benefit from corporate portfolio funding, the continued awareness of legal financing solutions and how legal financing can minimise risk for corporates across sectors. Our pipeline includes eight further corporate portfolio projects across various sectors and we continue to refine our knowledge and experience while contributing to LCM's future growth.

 

We have refined and developed a strategy to originate business through targeted partnerships. This corporate portfolio transaction is a positive endorsement of how we conduct our business generation and the relationship we have developed under the global cooperation agreement with a leading international law firm."

 

CONTACTS

 

Litigation Capital Management

Patrick Moloney, Chief Executive Officer

Nick Rowles-Davies, Executive Director

 

Canaccord (Nomad and Broker)  Tel: 020 7523 8000

Bobbie Hilliam / Emma Gabriel

 

Hawthorn Advisors lcm@hawthornadvisors.com

Lorna Cobbett / Zinka MacHale Tel: 020 3745 4960

 

NOTES TO EDITORS

 

About LCM

Litigation Capital Management ("LCM") is a leading international provider of litigation financing solutions. This includes single-case and portfolios across class actions, commercial claims, claims arising out of insolvency and international arbitration. LCM has an unparalleled track record, driven by effective project selection, active project management and robust risk management. Headquartered in Sydney, with offices in London, Singapore, Brisbane and Melbourne, LCM has been listed on AIM since December 2018, trading under the ticker LIT. www.lcmfinance.com

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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