Litigation Cap. Regulatory News (LIT)

3 April 2020

Litigation Capital Management Limited

(LCM or the Company)

Management Update and Corporate Reorganisation

Litigation Capital Management Limited (AIM:LIT), a leading international provider of disputes financing solutions, announces an update regarding management and corporate reorganisation.

Highlights

· First step towards management relocation to London with CEO to relocate from Sydney

· Appointment of new CFO to operate from London office

· Initiating a plan to optimise the business through restructure to take of advantage of efficiencies and opportunities in larger economies.

Executive management migration to London and board composition

Since expanding into the Northern Hemisphere in 2018, LCM has seen a significant expansion of its business activities, most particularly in the strategy of corporate portfolio transactions in the much larger economies of the United Kingdom, Europe, and North America.

In recognition of that expansion, LCM is taking steps to move its executive management function to London. This will involve the transition of its management function from Sydney, Australia, to LCM's London office including the relocation of Patrick Moloney, as CEO.

LCM had originally planned and expected that move to be complete by the end of Q2 2020. However, with current global travel restrictions, that timeframe is longer achievable. Notwithstanding, LCM continues to plan for the transition. This will be facilitated as soon as global conditions permit. Upon achieving that transition, the management functions, including finance, will both be much closer to LCM's growing markets, and have significantly greater access to many existing equity investors, as well as sources of new capital

In conjunction with the migration of management to London, LCM is also looking closely at the composition of its Board, to ensure it appropriately reflects the growing global opportunities for this business.

Appointment of new Chief Financial Officer

As LCM takes steps to migrate its management function to London, Stephen Conrad, CFO, has decided that he will pursue other opportunities in Australia. As such, Stephen has tendered his resignation as CFO of LCM effective 31 March 2020. He has also resigned from LCM's board as and from the date of this announcement. Stephen has made a significant contribution to the strengthening of the Company's finance function and played an important role in the Company's admission to AIM and the integration of the London Office. The Board wishes him well in the future.

LCM is pleased to announce the appointment of Mary Gangemi as the Company's new Chief Financial Officer as of 1 April 2020. Mary will be based at LCM's London office. Mary will not initially be a member of the Board, but, is considered a Person Discharging Managerial Responsibilities (PDMR).

Mary has extensive senior management experience in financial services, having managed the finance function of corporations in the United Kingdom, Europe and Asia.

Mary's previous roles have involved both investment banks and brokerage firms, which include Bridgewell, Creditex and Canaccord. Before accepting a role at LCM, Mary was the Group Financial Controller at IFG Group plc, formerly a dual listed corporation in both the United Kingdom and Ireland.

Mary has significant experience in wealth and asset management as well as financial services. She has also been involved in numerous restructures and mergers.

As LCM begins to build its asset management business in parallel with expanding the services and products it provides to the market globally, Mary's experience will be invaluable.

Corporate Reorganisation

LCM has begun seeking strategic advice about a corporate reorganisation, with respect to global revenue laws, and the most efficient and suitable jurisdictions from which to operate. LCM is in the early stages of that process, and realistically expects that it is a project which will evolve over the next 12 months.

Patrick Moloney, CEO of LCM, commented: "With the marked progress we are making in our geographic expansion strategy outside Australia, it is logical that our executive management team relocate to London. Aside from the obvious benefits of being able to work more closely together in one of the world's pre-eminent financial centres and the convenience of the time zone, importantly we will also be at the centre of our key growth area of corporate portfolio investments. A significant opportunity remains in Australia and the Southern Hemisphere, where the business continues from strength to strength with a highly experience team.

"On behalf of the Board, I would like to thank Steve for his valuable input and guidance during a very busy and productive time in LCM's growth and expansion and wish him all the best in the next chapter of his career. At the same time, I'm pleased to welcome Mary to the Company. Mary's CV speaks for itself - she has an exceptional track record and I have no doubt she will continue in a similar vein at LCM.

"With the migration of the executive management team to London, Mary's appointment and the prospect of a new non-exec, we're in a very strong position operationally and look to the future with confidence."

Jonathan Moulds, Non-Executive Chairman of LCM, added: "Given the range of diverse opportunities open to LCM in the current environment, having Directors with global experience, who both understand our culture and are commercially savvy is key. I look forward to working with our Board as we progress and complete this project during the remainder of 2020."

Enquiries

NOTES TO EDITORS

Litigation Capital Management (LCM) is a global provider of disputes finance. LCM provides capital and risk manager services into the disputes market including insolvency, commercial disputes, arbitral disputes, class actions and corporate portfolios.

LCM has an unparalleled track record, driven by effective project selection, active project management and robust risk management.

Current 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