NEW YORK, June 28, 2024 /PRNewswire/ -- Burford Capital Limited ("Burford"), the leading global finance and asset management firm focused on law, provides the following notifications of various transactions in connection with the Burford Capital 2016 Long Term Incentive Plan (the "LTIP"). Following the issuance of these new Shares, the Company's issued ordinary share capital is 220,082,694, of which 669,947 Shares are held in treasury and do not have any voting rights. Therefore, the total number of voting ...

Core Points - Burford Capital Limited announced the distribution of 202,018 ordinary shares to its executives, including CEO Christopher Bogart and CIO Jonathan Molot, effective June 18, 2024 [8][9] - The total issued ordinary share capital of the company is now 220,057,785, with 669,947 shares held in treasury, resulting in 219,387,838 voting rights available to shareholders [2] Group 1: Share Distribution Details - The share distribution includes 85,310 shares to Mr. Bogart, 82,874 shares to Mr. Molot, 20,552 shares to Ms. Will, and 13,282 shares to Mr. Perla, reflecting shares withheld for tax purposes [1][8] - The shares were distributed as part of the Burford Capital Deferred Compensation Plan, where executives used their cash compensation to invest in notional shares [8][9] Group 2: Market Information - An application will be made for the newly issued shares to be admitted to trading on the AIM market of the London Stock Exchange, with an expected admission date of June 28, 2024 [9] - The shares will also be listed on the New York Stock Exchange [9] Group 3: Company Overview - Burford Capital is a leading global finance and asset management firm focused on law, involved in litigation finance, risk management, and legal advisory activities [18] - The company operates globally with offices in major cities including New York, London, and Hong Kong, and is publicly traded on both the NYSE and LSE [18]

Group 1: Healthcare Industry Trends - The US healthcare industry is experiencing significant changes due to factors such as consolidation, rising costs, and lingering impacts from Covid-19, leading to an increase in major disputes [1][6][7] - The increase in disputes is driving shifts in how healthcare businesses pursue and finance recoveries [1][6] Group 2: Legal Finance Insights - Judges at a recent conference indicated that mandatory disclosure of legal finance is unnecessary and could hinder business efficiency in pursuing claims [2] - Burford Capital's latest quarterly report highlights the economic factors and business trends affecting various industries, with a focus on the healthcare sector and construction disputes [7][10] Group 3: Unified Patent Court Impact - The Unified Patent Court (UPC) has been operational for a year, impacting 17 member nations and over 300 million people, leading to increased interest in financing IP litigation in Europe [4][7]

NEW YORK, June 6, 2024 /PRNewswire/ -- Burford Capital Limited ("Burford"), the leading global finance and asset management firm focused on law, provides an update on the completed purchases of Burford's ordinary shares of nil par value ("Shares") to satisfy non-employee directors' awards and grants of Shares to non-employee directors under the Burford Capital Limited 2021 Non-Employee Directors' Share Plan (the "NED Plan"). On June 4, 2024, Burford completed the open market purchases of 19,285 Shares on th ...

NEW YORK, June 3, 2024 /PRNewswire/ -- Burford Capital Limited ("Burford"), the leading global finance and asset management firm focused on law, today announces the intended open market purchases of Burford's ordinary shares of nil par value ("Shares") on the London Stock Exchange to satisfy a grant of awards to Burford's non-employee directors under the Burford Capital Limited 2021 Non-Employee Directors' Share Plan as soon as practicable following this announcement. One of Burford's joint brokers, Numis S ...

Core Insights - Burford Capital is set to join the Russell 3000® and Russell 2000® Indexes, marking the first entry of legal finance as an emerging asset class into these indexes, effective July 1, 2024 [1][2] - The inclusion of Burford in these indexes highlights its growth and the increasing demand for legal finance services among Fortune 500 companies and major law firms [2][3] Company Overview - Burford Capital, founded in 2009, specializes in litigation finance, risk management, and legal advisory services, and has a multi-billion dollar portfolio [2][4] - The company has achieved significant milestones, including a landmark judgment of approximately $16 billion in a case against Argentina, which is the largest in the history of the US District Court for the Southern District of New York [2] Market Position - Burford's CEO emphasized the growing recognition among business leaders of legal finance as a means to transform legal departments into capital sources, evidenced by a recent $325 million commitment from a Fortune 50 company [3] - The Russell indexes are widely utilized by investment managers and institutional investors, with about $10.5 trillion in assets benchmarked against them as of December 2023 [3]

NEW YORK, May 20, 2024 /PRNewswire/ -- Burford Capital Limited ("Burford"), the leading global finance and asset management firm focused on law, is pleased to announce that all of the resolutions proposed at its annual general meeting held on May 15, 2024 were approved by shareholders, including, among others, the approval of a final dividend of 6.25¢ (United States cents) per ordinary share to be paid on June 14, 2024 to all ordinary shareholders on the register of members at the close of business on May 2 ...

Core Insights - The study by Burford Capital highlights the evolving strategies of senior legal and finance leaders in various industries regarding litigation spending and legal cost management, emphasizing a shift towards innovation and value creation [1][4][5] Industry Trends - Senior leaders in construction and mining anticipate the largest increases in litigation spending over the next five years, with the pharmaceutical and food sectors also expecting significant rises [5] - 75% of general counsels (GCs) and chief financial officers (CFOs) in construction and real estate prioritize increasing the certainty and predictability of legal costs, which is 25% higher than the average across all industries [5] - GCs and CFOs in pharma and life sciences are four times more likely than the average to consider reallocating $50 million or more within their businesses by financing litigation and arbitration [5] - Approximately 65% of senior finance and legal leaders in mining are likely to utilize monetization solutions in the next 15 years, indicating a trend towards immediate capital access through legal finance [5] - Half of the GCs and CFOs in the food industry expect litigation and arbitration spending to rise by over 25% in the next five years, and they are 54% more likely to have utilized legal finance compared to the industry average [5] - A third of senior leaders in the energy sector report having robust affirmative recovery programs, nearly double the average across all industries [5] Legal Finance and Technology - Leaders in healthcare, retail, and consumer sectors are more inclined to view legal finance as a means to significantly reduce overall litigation costs, reflecting their need for innovative cost-saving strategies [5] - Retail companies are the most likely to invest heavily in legal technology and AI in the coming year, indicating a trend towards modernization in legal operations [5] Resource Allocation and Future Outlook - Industries expecting the largest increases in litigation spending do not currently possess the largest budgets, suggesting a potential shift in litigation priorities and resource allocation among these sectors [5]

Portfolio Overview - Group-wide portfolio totaled $71 billion as of March 31, 2024, a decrease of 1% from the end of 2023[1] - Burford manages eight private funds with $34 billion in Assets Under Management (AUM) as of March 31, 2024[1] - Cumulative Burford-only capital provision-direct realizations since inception through March 31, 2024, reached $28 billion, with an 82% ROIC and a 27% IRR[17] Financial Performance - Burford-only asset management income was $7 million in 1Q24, primarily driven by reduced BOF-C activity[20] - Cumulative BOF-C asset commitments totaled $11 billion as of March 31, 2024, with deployments of $697 million[20] - Burford-only cash receipts increased by 42% to $138 million in 1Q24, the highest ever reported for a first quarter[38] - Burford-only capital provision-direct realized gains were $29 million on $61 million of realizations[42] - Net loss attributable to Burford Capital Limited shareholders was $30 million, impacted by fair value adjustments[42] Liquidity and Leverage - Burford-only liquidity stood at $568 million as of March 31, 2024, including $465 million in cash and cash equivalents and $103 million in marketable securities[28] - Consolidated net debt as a percentage of consolidated tangible assets was 21% in 1Q24[7, 132] - Consolidated indebtedness to net tangible equity ratio was 08x in 1Q24[11, 132] YPF-Related Assets - The fair value of YPF-related assets was $14 billion on a Burford-only basis as of March 31, 2024[51] - A final judgment of $16 billion was won against Argentina, with enforcement actions underway[51, 73]

Financial Data and Key Metrics Changes - The company reported $31 million in revenue for the quarter, with a net income per share of negative $0.14 and tangible book value just shy of $10 per share [7][10][32] - Cash receipts reached the highest level ever reported for the first quarter, with gross realized gains of $45 million, a $6 million increase compared to the previous year [10][29] - The company experienced a loss in a subcase associated with a larger portfolio, which impacted the net realized gains [29] Business Line Data and Key Metrics Changes - The capital provision assets are approximately $3.4 billion, with $1.6 billion in deployed costs, and a fair value gain of $490 million relative to the rest of the portfolio [15][33] - The asset management business continues to perform well, generating $4 million in cash receipts [31] Market Data and Key Metrics Changes - The company noted that deployments are influenced by law firms' billing efficiency, particularly at the end of the calendar year [4] - The company is seeing a divergence in business activity between the first and third quarters compared to the second and fourth quarters, with historically lower activity in the first quarter [11][21] Company Strategy and Development Direction - The company is focused on maintaining a strong liquidity position, currently holding over $500 million in cash and securities, which positions it well for future opportunities [24][33] - The management emphasized the importance of the core portfolio, which continues to generate consistent returns [35] Management's Comments on Operating Environment and Future Outlook - Management expressed that the first quarter is typically less active, but they remain encouraged by the level of interest from corporates in litigation finance [23][40] - The company does not provide specific guidance on future new business levels but remains optimistic about ongoing interest in the market [39][44] Other Important Information - The company is currently managing a significant portfolio and has been generating consistent returns as cases conclude [24][35] - The increase in discount rates across the portfolio represented a $22 million headwind to valuations [17] Q&A Session Summary Question: What level of commitments is expected for the rest of the year? - The company does not provide guidance on future new business but remains encouraged by interest from corporates and anticipates ongoing activity [39][40] Question: How does the company view the unpredictability of large deals? - The management noted that the level of new business is heavily influenced by the occurrence of large transactions, which are difficult to predict due to long sales cycles [45][46]