Business
Burford Capital Completes $17
Burford Capital Completes $17.
About this update from Burford Capital Limited
[{"type":"text","content":"\n RNS Number : 6606X Burford Capital 09 December 2010 \n \n\n9 December 2010\n \n \n \nBurford Capital Completes $175 Million Placing1\nCapital now exceeds $300 million for litigation and dispute investing\n \nBurford Capital Limited (\"Burford\" or the \"Company\") is pleased to announce the completion of its placing of approximately $175 million (£110 million) following approval of all proposed resolutions at the Company's extraordinary general meeting held today. Application has been made to the London Stock Exchange for the Placing Shares, consisting of 100,000,000 ordinary shares, to be admitted to trading on AIM, which is expected to occur on Friday 10 December 2010.\n \nSir Peter Middleton, Hugh Steven Wilson and David Lowe, directors of the Company (\"Directors\"), all participated in the Placing, doubling their existing shareholdings, and the shareholders of Burford's investment adviser (the \"Principals\"), took direct ownership of the shares previously held by Burford Group and have agreed to an extension of the lock-up period to 23 August 2013. Following the Placing and the transfer of shares referred to above, the resulting shareholdings in the Company of the Directors and the Principals will be as follows:\n \n\n\n\n\nDirectors\n\n\nShares\n\n\n% of issued share capital\n\n\n\n\nSir Peter Middleton\n\n\n60,000\n\n\n0.03\n\n\n\n\nHugh Steven Wilson\n\n\n100,000\n\n\n0.06\n\n\n\n\nDavid Lowe\n\n\n100,000\n\n\n0.06\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nPrincipals\n\n\nShares\n\n\n% of issued share capital\n\n\n\n\nGlenavy Capital LLC (Christopher Bogart)\n\n\n888,563\n\n\n0.49\n\n\n\n\nLitigation Risk Solutions LLC (Jonathan Molot)\n\n\n541,667\n\n\n0.30\n\n\n\n\nBurford Advisors LLC (Selvyn Seidel)\n\n\n194,770\n\n\n0.11\n\n\n\n\n \nTerms defined in the circular posted to Burford Shareholders on 24 November 2010 have the same meaning in this announcement, unless the context requires otherwise.\n \n \n1 Subject to admission of the Placing Shares to trading on AIM.\n \n \nFor further information, please contact:\n \n\n\n\n\nMacquarie Capital (Europe) Limited\n\n\nJoint Bookrunner, Broker and Nomad\n\n\n\n\nJonny Franklin-Adams\n\n\n+44 (0) 20 3037 5231\n\n\n\n\nSteve Baldwin\n\n\n+44 (0) 20 3037 2362\n\n\n\n\n\n\n\n\n\n\n\n\nExecution Noble Limited\n\n\nJoint ...