Business
Management Team Invest $3 Million in Burford Stock
Management Team Invest $3 Million in Burford Stock.
About this update from Burford Capital Limited
[{"type":"text","content":"\n \n \n \n RNS Number : 0618H\n Burford Capital Limited\n 04 April 2022\n \n \n \n \n \n \n \n 4 April 2022\n \n \n \n \n \n \n \n \n BURFORD'S MANAGEMENT TEAM INVEST $3 MILLION IN BURFORD STOCK\n \n \n \n \n \n Burford Capital Limited, the leading global finance and asset management firm focused on law, today announces that \n Chief Executive Officer Christopher Bogart, Chief Investment Officer Jonathan Molot, Chief Financial Officer Kenneth Brause and Co-Chief Operating Officers Aviva Will and David Perla have in aggregate invested $3 million in Burford's stock since March 31, 2022.\n \n \n \n \n \n All five executives used their cash compensation to make the investments, which occurred through the Burford employee deferred compensation plan.\n \n \n \n \n \n With this additional investment, Messrs Bogart and Molot's combined personal cash investment in Burford ordinary shares of nil par value (\"Shares\") since 2019 has now reached approximately $15 million, in addition to their prior substantial holdings acquired earlier in Burford's life. Together, Messrs Bogart and Molot control almost 9% of Burford's Shares.\n \n \n \n \n \n The investments made on March 31 and April 1 total approximately 300,000\n Shares: 140,400 Shares to Mr Bogart, 140,191 Shares to Mr Molot, 5,269 Shares to Mr Brause and 15,168 Shares to Ms Will. Messrs Brause and Perla have made further investments for execution today; Mr. Perla's investment is expected to amount to approximately 12,000 Shares and Mr Brause to approximately 5,000 additional shares; they will be the subject of a separate notice in due course. \n \n \n \n \n \n Further details about the Burford deferred compensation plan can be found in Burford's recently released annual report. In essence, Burford employees are able to elect to defer cash compensation, without incurring current taxes, into the plan, which in turn permits the full amount of that deferred compensation to be allocated to Burford Shares (or for other investment options). It is intended that the plan, as announced on Friday, will then go into the market and buy the Shares. This is a tax-efficient way for employees to continue to accumulate exposure to Burford's Shares.\n \n \n \n \n \n A Notification of Dealing Form for each of the transactio...