Litigation Capital Management Ltd Settlement of litigation project (1812L)
December 21 2018 - 2:01AM
UK Regulatory
TIDMLIT
RNS Number : 1812L
Litigation Capital Management Ltd
21 December 2018
21 December 2018
Litigation Capital Management Limited
("LCM" or the "Company")
Settlement of litigation project
Litigation Capital Management Limited (AIM:LIT), a leading
international provider of litigation financing solutions, today
announces that a settlement has been reached in respect of one of
its litigation projects.
Highlights
-- Expected to contribute over A$1.5 million in revenue for the
current financial year to 30 June 2019; with a similar sized
contribution to EBITDA
-- The litigation project was managed to settlement in less than
one month
-- Third litigation project that LCM has completed in the
current financial year
The parties involved in the litigation project are undisclosed,
but it relates to an international arbitration case. International
arbitration represents one of several types of litigation projects
that LCM provides funding for across single-case and portfolio
funding, as well as class actions, commercial claims and claims
arising out of insolvency.
LCM has also entered into an agreement to provide litigation
finance in relation to proceedings brought in the Supreme Court of
Western Australia. The terms of the funding agreement are subject
to confidentiality between the parties involved and are therefore
undisclosed.
Patrick Moloney, CEO of LCM, said:
"The ability of LCM to manage this litigation project to
completion in such a short time period is reflective of LCM's
active project management approach in an opportunistic situation
and we will look to replicate this where we can. Across the diverse
portfolio of litigation projects we finance, international
arbitration is one of a number of sectors in which we expect to see
continued growth in the coming years, particularly in markets such
as Hong Kong and Singapore."
-ENDS-
CONTACTS
Litigation Capital Management
Patrick Moloney, Chief Executive Officer
Nick Rowles-Davies, Executive Director
Canaccord (Nomad and Broker) Tel: 020 7523 8000
Sunil Duggal / Emma Gabriel / Michael Reynolds
Hawthorn Advisors lcm@hawthornadvisors.com
Lorna Cobbett / Zinka MacHale Tel: 020 3745 4960
NOTES TO EDITORS
About LCM
Litigation Capital Management ("LCM") is a leading international
provider of litigation financing solutions. This includes
single-case and portfolio; across class actions, commercial claims,
claims arising out of insolvency and international arbitration. LCM
has an unparalleled track record, driven by effective project
selection, active project management and robust risk management.
Headquartered in Sydney, with offices in London, Singapore,
Brisbane and Melbourne, LCM has been listed on AIM since December
2018, trading under the ticker LIT. www.lcmfinance.com
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END
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