Litigation Capital Management Ltd Successful resolution of balance sheet investment (4977D)
22 Junio 2023 - 1:00AM
UK Regulatory
TIDMLIT
RNS Number : 4977D
Litigation Capital Management Ltd
22 June 2023
22 June 2023
Litigation Capital Management Limited
("LCM" or the "Company")
Successful resolution of direct balance sheet investment
Litigation Capital Management Limited (AIM:LIT), an alternative
asset manager specialising in dispute financing solutions
internationally, announces the settlement of an investment forming
part of its portfolio of direct investments.
Successful award in investment in arbitration
As previously announced on 23 February 2023, the Company
announced a positive development, with respect to a partial award
in one of its 100% direct balance sheet matters. A settlement has
been reached between the parties following an Award on liability
and costs being granted in favour of the funded party. The matter
was heard by a Tribunal appointed under the International Chamber
of Commerce (ICC) Arbitration Rules. LCM's investment performance
is detailed below:
*AUD$m Investment performance
Invested capital 2.9
-----------------------
Investment return (Gross profit) 8.6
-----------------------
Total revenue 11.5
-----------------------
ROIC on investment 293%
-----------------------
*The investment returns are subject to change based on the
prevailing FX rate and timing of distribution
Patrick Moloney, CEO of LCM, commented: "We are pleased with the
positive resolution of this investment and more generally the
momentum in the progress of our portfolio in the second half of our
financial year. This is of particular significance, given our first
half results which were impacted by the timing, and consequently
recognition of resolutions. We believe these recent resolutions
demonstrate our expertise and skill in selecting and underwriting
investments. Additionally, they reinforce the value and scale our
funds management business adds to the Group, creating significant
value for our shareholders and investors."
Enquiries
Litigation Capital Management c/o Tavistock PR
Patrick Moloney, Chief Executive
Officer
Canaccord (Nomad and Joint Tel: 020 7523 8000
Broker)
Bobbie Hilliam
Investec Bank plc (Joint Tel: 020 7597 5970
Broker)
David Anderson
Tavistock PR Tel: 020 7920 3150
Tim Pearson lcm@tavistock.co.uk
Katie Hopkins
NOTES TO EDITORS
Litigation Capital Management (LCM) is an alternative 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
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END
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