Business
Statement re Governance Changes
Statement re Governance Changes.
About this update from Burford Capital Limited
[{"type":"text","content":"\n \nRNS Number : 2369J Burford Capital Limited 15 August 2019 \n\n \nThis announcement contains inside information.\n \n15 August 2019\n \nBURFORD CAPITAL ANNOUNCES GOVERNANCE CHANGES\n \nBurford Capital Limited (\"Burford Capital\" or \"Burford\" or \"the Company\"), the leading global finance and investment management firm focused on law, today issued the following statement regarding the evolution of its corporate governance.\n \nBurford's Listing\n \nBurford has made it clear for some time that it is considering an expansion of its stock market listing and that it is exploring a dual listing in the US.\n \nInvestors have asked for more clarity and granularity around our plans. Investors have also made it clear that they do not support Burford remaining solely AIM listed. We have listened and, while we were already taking action, as reflected in past disclosure, we set out here our plans and our commitments.\n \nBurford has concluded that it will endeavour to procure a second listing on either NASDAQ or the NYSE as a first choice. We believe that the deep liquidity in those markets, as well as the opportunity to access a broad pool of US investors who do not today invest in litigation finance but are generally familiar with US litigation, makes a US listing commercially attractive as an alternative to moving Burford's current listing to the LSE Main Market. A US listing would come with applicable disclosure and governance obligations.\n \nWe are in fact already engaged in the early stages of the process to seek a US listing, and have been since well before recent events. There are some preliminary legal matters to resolve, given that there has never been a litigation finance provider listed in the US, and that process may take several months. Thereafter, the usual SEC registration statement process will need to be completed. Our hope would be that we could complete the process by the end of the first quarter of 2020 or as soon as reasonably practicable thereafter, although that timetable cannot be assured.\n \nIf we determine that there is an insuperable challenge with achieving a US listing, then we intend to pursue a premium listing on the LSE Main Market. \n \nBurford's Board of Directors\n \nBurford's Board i...