RBG Holdings PLC LionFish - first successful litigation investment
20 Abril 2021 - 2:00AM
RNS Non-Regulatory
TIDMRBGP
RBG Holdings PLC
20 April 2021
20 April 2021
RBG Holdings plc
("RBG" or the "Group")
LionFish records first successful litigation investment
RBG Holdings plc (AIM: RBGP), the professional services group,
is pleased to announce that LionFish Litigation Finance Limited
("LionFish") has recorded its first successful litigation
investment since its launch.
In May 2020, RBG launched LionFish as a new player in the
third-party litigation funding market, investing in cases run by
law firms other than the Group's own, Rosenblatt Limited ("RBL").
LionFish is led by experienced Managing Director, Tets
Ishikawa.
While the return is not material to the Group's forecast
financial results, the successful investment provides a gross two
times money return over and above invested cash and confirms that
LionFish can deliver significant returns from its portfolio of
investments.
Part of the Group's approach to litigation finance is to sell a
percentage of its participation rights in the cases LionFish
invests in, and this reported return is pre-investor payout.
As of 31 December 2020, LionFish has received 240 enquiries for
finance, and seven cases have been invested in. LionFish has made a
cash investment of GBP1.8 million across the seven cases, with a
total capital commitment of GBP4.9 million. The expected a verage
investment duration is around two years.
Nicola Foulston, CEO, RBG Holdings plc, said: "This is a
proof-of-concept moment for our litigation finance strategy. The
success of this first investment demonstrates that LionFish can
make a significant contribution to the Group, but also deliver
substantial returns to investors who acquire participation rights.
We believe this will make LionFish an even more attractive
prospect. Congratulations to Tets and the LionFish team."
Enquiries:
RBG Holdings plc Via SEC Newgate
Nicola Foulston, CEO
N+1 Singer (Nomad and Broker) Tel: +44 (0)20 7496 3000
Shaun Dobson / Alex Bond (Corporate
Finance)
Tom Salvesen (Corporate Broking)
SEC Newgate (for media enquiries) Tel: +44 (0)7540 106366;
Robin Tozer/Tom Carnegie rbg@secnewgate.co.uk
About RBG Holdings plc
RBG Holdings plc is a professional services group, which
includes one of the UK's pioneering law firms, Rosenblatt Limited
("RBL"), which is a leader in dispute resolution.
RBL provides a range of legal services to its diversified client
base, which includes companies, banks, entrepreneurs, and
individuals. Complementing this is the Firm's increasingly
international footprint, advising on complex cross-jurisdictional
matters. RBL's practice areas include banking & finance,
competition & regulatory, corporate, dispute resolution,
employment, financial crime, financial services, insolvency &
financial restructuring IP/technology/media, real estate, serious
& general crime, tax resolution, and white-collar crime.
The Group also provides litigation finance in selected cases
through a separate arm, LionFish Litigation Finance (UK) Limited
("LionFish"). LionFish finances litigation matters being run by
other solicitors in return for a significant return on the outcome
of those cases. As such, the Group has two types of litigation
assets - RBL's own client matters, and litigation matters run by
third-party solicitors. LionFish is positioned to be a unique,
alternative provider to the traditional litigation funders.
The Group also owns Convex Capital Limited ("Convex Capital"), a
specialist sell-side corporate finance boutique, based in
Manchester. Convex Capital is entirely focussed on helping
companies, particularly owner-managed and entrepreneurial
businesses, realise their value through sales to large corporates.
Convex Capital identifies and proactively targets firms that it
believes represent attractive acquisition opportunities.
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