In particular, Burford’s most concentrated position was successful, generating $172 million of income and a 182% return on invested capital, with the result that our cumulative returns rose to a 97% ROIC and a 32% IRR. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy. Past performance is not indicative of future results. For more information about Burford: www.burfordcapital.com. 01 October 2020 . US SEC Declares Registration Statement Effective . US SEC Declares Registration Statement Effective, Interim Results for six months ended 30 June 2020, Despatch of Shareholder Letter on Dual Listing. BURFORD CAPITAL LIMITED BUR Analysis - Search stock, chart, recent trades, company information, trading information, company news, fundamentals Its businesses include litigation finance and risk management, asset recovery and a wide range of legal finance and advisory activities. Burford Capital is the leading global finance and asset management firm focused on law. Group VAT registration number 872070825 FCA Registration number 559082. Shareholders holding Burford shares through CREST who make an Election in advance of the Election deadline of, Should existing shareholders wish to immediately be able to settle AIM trades through the CREST system, they will need to make an Election to be received, irrevocably appoint Burford and any director of, or any person authorised by, Burford jointly and severally as their attorney and/or agent (the "Attorney") and. If, however, you would like to receive Securities to an account with your appointed broker or nominee, you will be required to make an Election. Discover. This communication shall not constitute an offer to sell or the solicitation of an offer to buy any ordinary shares or other securities of Burford. Burford is publicly traded on the London Stock Exchange, and it works with law firms and clients around the world from its principal offices in New York, London, Chicago, Washington, Singapore and Sydney. Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. Its businesses include litigation finance and risk management, asset recovery and a wide range of legal finance and advisory activities. To elect to receive the Security you will need to have an account with a CREST participant broker. Shareholders holding Burford shares through CREST who make an Election in advance of the Election deadline of 1.00pm (UK time) on Friday 16 October 2020 will not have the ability to settle trades in those shares from the time that they make their Election. ... RNS . Shareholders should also read the further relevant information that can be found on Burford's website at, Any shareholder who does not make a valid Election by. Burford Capital Limited ("Burford"), a leading global finance firm focused on law, announces that on 30 June 2017 its affiliate Burford Capital Investment Management LLC closed a new $500 million fund to invest in litigation-related complex strategies. Any such offer or solicitation may be made only by means of a final confidential Private Placement Memorandum and other offering documents. [1] Mechanically, following an Election, Burford will replace the direct settlement of Burford's shares in CREST with a depositary interest ("Security") to be managed by Computershare UK, who will act as an intermediary and depositary under the appointment of Burford. LSE does not guarantee the accuracy, timeliness, completeness, performance or fitness for a particular purpose of the webpage or any of the Information on it. and a wide range of legal finance and advisory activities. A copy of both letters, some responses to frequently asked questions in relation to the election process and other related information have been uploaded to the Burford website at. Burford's complete interim report and accounts are available at http://www.rns-pdf.londonstockexchange.com/rns/6973A_1-2020-9-30.pdf or from the Burford website: www.burfordcapital.com/shareholders. If you are in any doubt as to this document or the action you should take, you should seek you own advice from an appropriately authorised stockbroker or other professional adviser. TIDMBUR . This is GG00B4L84979; the number of Burford shares as to which you are making an Election; the member account ID of the escrow agent for the acceptance. Further to the announcement made on 7 July 2020, while Burford Capital's registration statement remains under review by the SEC, Burford's listing application for its shares to trade on the NYSE has been approved, subject to customary listing conditions. Burford Capital Investment Management LLC ("BCIM"), which acts as the fund manager of all Burford funds, is registered as an investment adviser with the U.S. Securities and Exchange Commission. US SEC Declares Registration Statement Effective, Interim Results for six months ended 30 June 2020, Despatch of Shareholder Letter on Dual Listing, Discover the world’s international exchange, What should you consider before investing, Conflict of interest policy & UK bribery act. Data delayed 15 minutes unless otherwise indicated. Past performance is not indicative of future results. For more information about Burford: www.burfordcapital.com. Don't have an account? Terms of use. Some trades qualify for deferred publication due to the type or size of the transaction. A summary of the anticipated timetable is as follows: Completion of US listing: Monday 19 October at, The dates in this announcement are indicative and are subject to change. Burford Capital is the leading global finance and asset management firm focused on law. For shares that are currently held in certificated form, an Election will result in your current holding of Burford shares being transitioned to an uncertificated Security under a new ISIN, GG00BMGYLN96 on or about the effective date (which is currently anticipated to be 19 October 2020). BURFORD CAPITAL LIMITED BUR Analysis - Search stock, chart, recent trades, company information, trading information, company news, fundamentals We look forward to implementing the Company’s plans to list on the New York Stock Exchange alongside its UK listing.”. Burford’s global legal finance team is the largest and most experienced in the world. 28 September 2020 . This release does not constitute an offer of any Burford fund. TR1 - Notification of Major Holdings . * Total income, operating profit, profit before tax and profit after tax exclude the impact of amortisation of the intangible asset, operating expenses incurred related to (i) one-time expenses related to equity and listing matters and (ii) case-related legal fees not included in asset cost, and third-party interests in consolidated entities. Burford Capital is the leading global finance and asset management firm focused on law. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the, enable trading on both the NYSE and AIM, certain mechanical and administrative matters need to occur. You should read the Notes at the end of this letter in full. Burford is publicly traded on the London Stock Exchange, and it works with law firms and clients around the world from its principal offices in New York, London, Chicago, Washington, Singapore and Sydney. The information contained herein is not, and should not be construed as, an offer to sell or the solicitation of an offer to buy any securities (including, without limitation, interests or shares in the funds). 1a. In the event that the planned NYSE listing date is delayed (causing an extension to the election period), or cancelled, an announcement will be made via the Regulatory News Service. This communication shall not constitute an offer to sell or the solicitation of an offer to buy any ordinary shares or other securities of Burford. Burford Capital is the leading global finance and asset management firm focused on law. Robert Bailhache, Head of Investor Relations, EMEA and Asia - email, Jim Ballan, Head of Investor Relations, Americas - email, Numis Securities Limited - NOMAD and Joint Broker, Charlie Farquhar / Jonathan Abbott (Joint Broker), Jefferies International Limited - Joint Broker. Letter to shareholders holding their Burford shares in certificated form. Any such offer or solicitation may be made only by means of a final confidential Private Placement Memorandum and other offering documents. Christopher Bogart, Chief Executive Officer of Burford, added: “Burford achieved a very strong performance in the first half, with some substantial portfolio matters producing significant profits to drive an increase in cash on the balance sheet to $316 million by 15 September. For instruments denominated in GBX, the Trade Value is in GBP when the traded currency is GBX or GBP. and a wide range of legal finance and advisory activities. Following the completion of this process, you will be able to trade your Burford shares on AIM, with such trades being electronically settled through the CREST system using Securities. RNS Number: 3690 A Burford Capital Limited 29 September 2020. For more information about Burford: www.burfordcapital.com. The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates. London Stock Exchange, the London Stock Exchange coat of arm device are trademarks of London Stock Exchange plc. Burford Capital Limited . To access our Live RNS you must confirm you are a private investor by using the button below. The information contained herein is not, and should not be construed as, an offer to sell or the solicitation of an offer to buy any securities (including, without limitation, interests or shares in the funds). Create your account: sign up and get ahead on news and events. This release does not constitute an offer of any Burford fund. If existing shareholders would prefer to move their shares to be held through DTC, they must instruct their broker accordingly. RNS . If holders do not act, they will no longer hold through CREST and may experience increased trading and settlement complexity if trading on AIM. US SEC Declares Registration Statement Effective . Upon such transfer becoming effective, DTC will, on their customary terms, issue and credit book entry interests to an account for Computershare, It is anticipated that trading on the NYSE and, with settlement under the new ISIN, on AIM will open as usual on the next business day following the transfer to the US, on Monday, If you do not wish to hold your entitlement to Burford ordinary shares through a broker or nominee within CREST, you do not need to take any action. Its businesses include. For more information about Burford: www.burfordcapital.com. These documents will also be available on the Shareholders section of the Burford website when they become available later this week or next week; Burford will issue a further RNS announcement when they have been posted. No responsibility is accepted by or on behalf of the LSE for any errors, omissions, or inaccurate Information on this webpage. The information provided herein is for informational purposes only. It is anticipated that trading on the NYSE and, with settlement under the new ISIN, on AIM will open as usual on the next business day following the transfer to the US, on Monday 19 October 2020. About Burford Capital. http://www.rns-pdf.londonstockexchange.com/rns/6973A_1-2020-9-30.pdf, https://www.investis-live.com/burfordcapital/5f60779e17395d100039b233/remm, http://www.burfordcapital.com/shareholders, 2020.10.01 Burford Capital 2020 Interim Results RNS Announcement, California Consumer Privacy Act (CCPA) Notice, Complaints notice for Burford Law clients, Burford-only realisations up 40% to $478 million (1H 2019: $342 million); Group-wide realisations up 32% to $820 million (1H 2019:  $623 million), Robust Burford-only cash generation: $486 million in cash and net receivables generated in the period, 35% above 1H 2019 ($359 million), Cash flow positive in the period; cash receipts more than covered all operating expenses, finance costs and new deployments, Strong cash position: $262 million in cash on Burford’s balance sheet and a further $281 million in receivables at period end; at 15 September 2020, $86 million of those receivables had  converted to cash, with cash balance rising to $316 million, Burford-only realised gains from capital provision-direct assets up 57% at $183 million, representing 93% of adjusted profit before tax (1H 2019: 50%), No contribution from YPF-related assets to realised gains in this period (1H 2019:  $98 million), showing the capacity of the broader portfolio to generate attractive profits, 24% growth in cumulative recoveries from capital provision-direct assets on Burford’s balance sheet to $1.6 billion drove an increase in capital provision-direct return on invested capital by 9 percentage points to 97% (31-Dec-19: 88%), generating an IRR of 32% (31-Dec-19: 31%), Demonstrating Burford’s continuing ability to generate outsized returns from a portion of its assets, one group of 10 related assets realised during 1H 2020 fuelled the acceleration of returns, accounting for $266 million of Burford-only recoveries, $172 million of realised gains, an ROIC of 182% and an IRR of 49% for Burford’s balance sheet, COVID-19 lockdown impacted new business in the period, with Group-wide commitments down 74% to $195 million and deployments 42% lower at $258 million, Litigation environment has stabilised and pipeline is rebuilding; also expect significant volume of disputes arising from pandemic in the years to come, Burford-only total income amounted to $253 million, a decrease of 12%, though the mix of total income was more favourable than in 1H 2019, No income from YPF-related assets in 1H 2020 compared to $188 million in 1H 2019, Realised gains from non-YPF-related assets of $186 million in 1H 2020, up 49% over 1H 2019 ($125 million), Unrealised gains (net of transfers) from non-YPF-related assets of $65 million, up 30% (1H 2019: $50 million), As a result of holding adjusted operating expenses to a modest 4% increase, Burford-only adjusted operating profit was only down 14% to $218 million (1H 2019: $253 million) for an operating margin of 86%, Burford-only adjusted profit after tax totalled $161 million (1H 2019: $227 million), reflecting a higher accounting tax expense of $36 million, though cash taxes were only $2 million.