Last checked at 14 Jan 2019 07:00
14 January 2019
Litigation Capital Management Limited
("LCM" or the "Company")
New litigation project
Litigation Capital Management Limited (AIM:LIT) (LCM), a leading international provider of litigation financing solutions, today announces that it has entered into an agreement to provide litigation finance in relation to proceedings which are currently being undertaken in Australasia. These proceedings relate to a commercial dispute regarding the division of significant global assets, which are currently owned by a partnership.
The project has a capital commitment to be provided by LCM of A$5.5 million. The terms of the funding agreement are subject to confidentiality between the parties involved and are therefore undisclosed.
LCM is managing a portfolio of 17 projects (unconditionally financed), including the project announced today.
Patrick Moloney, CEO of LCM, said:
"This investment is a further example of LCM diversifying its portfolio of litigation finance projects across industry sector and capital commitment size, ensuring that the company's investments and potential returns are uncorrelated.
"Following the recent expansion of LCM into the UK and Europe we expect to see further future diversification in our portfolio of projects both by geographic location and jurisdiction."
-ENDS-
CONTACTS
Litigation Capital Management
Patrick Moloney, Chief Executive Officer
Nick Rowles-Davies, Executive Director
Canaccord (Nomad and Broker) Tel: 020 7523 8000
Sunil Duggal / Emma Gabriel / Michael Reynolds
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 portfolio; 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