30 October 2024
Litigation Capital Management
Limited
("LCM" or
the "Company")
Exercise of
Awards
Litigation Capital Management
Limited (AIM:LIT), a leading international alternative asset
manager of disputes financing solutions, announces that nil-cost
option awards over the Company's ordinary shares of no par value
("Ordinary Shares") which were granted on 4 October 2022 and 4
October 2023 under the terms of the Company's Deferred Bonus Share
Plan ("DBSP") have been satisfied by the Employee Benefit Trust and
vested to Chief Executive Officer, Patrick Moloney on 4 October 2024 as shown in the table
below:
|
Name
|
Previous shareholding
|
Awards vested / options
exercised
|
Shares sold
|
Current shareholding
|
|
Patrick Moloney
|
10,452,100
|
168,531
|
75,991
|
10,544,640
|
Following the vesting on 4 October
2024 and exercise on 28 October 2024, Mr Moloney sold 75,991
Ordinary Shares (approximately 45% of the aggregate award) to
satisfy tax due on the vesting.
Employee Benefit Trust
('EBT')
The Company has an EBT. The EBT is a
discretionary trust for the benefit of the Company's employees,
including the Directors of the Company. Following the exercise of
the options detailed above, the EBT of the Company currently holds
3,995,660 Ordinary Shares, representing 3.49 per cent. of the
Company's total voting rights.
Following these transactions, Mr
Moloney has a beneficial interest in 10,544,640 Ordinary Shares representing 9.21 per cent. of the
Company's issued share capital.
The notification below, made in
accordance with the requirements of the UK Market Abuse Regulation,
provides further details.
Enquiries
|
Litigation Capital Management
|
c/o Tavistock
|
|
Patrick Moloney, Chief Executive
Officer
David Collins, Chief Financial
Officer
|
|
|
|
|
|
Cavendish (Nomad and Joint
Broker)
|
Tel: 020 7220 0500
|
|
Jonny Franklin-Adams and Rory Sale
(Corporate Finance)
Tim Redfern and Jamie Anderson
(Corporate Broking)
|
|
|
|
|
|
Canaccord Genuity (Joint Broker)
|
Tel: 020 7523 8000
|
|
Bobbie Hilliam
|
|
|
|
|
|
Tavistock (PR and IR)
|
Tel: 020 7920 3150
|
|
Katie Hopkins
Simon Hudson
|
lcm@tavistock.co.uk
|
NOTES TO EDITORS
Litigation Capital Management (LCM)
is an alternative asset manager specialising in disputes financing
solutions internationally, which operates two business models. The
first is direct investments made from LCM's permanent balance sheet
capital and the second is third party fund management. Under those
two business models, LCM currently pursues three investment
strategies: Single-case funding, Portfolio funding and Acquisitions
of claims. LCM generates its income from both its direct
investments and also performance fees through asset
management.
LCM has an unparalleled track record
driven by disciplined project selection and robust risk management.
Currently headquartered in Sydney, with offices in London,
Singapore, Brisbane and Melbourne, LCM listed on AIM in December
2018, trading under the ticker LIT.
www.lcmfinance.com
|
1.
|
Details of the Person discharging
managerial responsibilities ("PDMR") / person closely associated
with them ("PCA")
|
|
a)
|
Name
|
Patrick Moloney
|
|
2.
|
Reason for the
notification
|
|
a)
|
Position / status
|
Chief Executive Officer
|
|
b)
|
Initial notification /
amendment
|
Initial notification
|
|
3.
|
Details of the issuer, emission
allowance market participant, auction platform, auctioneer or
auction monitor
|
|
a)
|
Name
|
Litigation Capital Management
Limited
|
|
b)
|
Legal Entity Identifier
|
213800J2B5SI8F515244
|
|
4.
|
Details of the transaction(s):
section to be repeated for (i) each type of instrument; (ii) each
type of transaction; (iii) each date; and (iv) each place where
transactions have been conducted
|
|
a)
|
Description of the financial
instrument
|
Options over Ordinary
Shares
|
|
b)
|
Nature of the transaction
|
Vesting and
Exercise of options
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
N/a
|
168,531
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Aggregated price
- Aggregated total
|
N/A
single transaction
|
|
e)
|
Date of the transaction
|
28 October 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
1.
|
Details of the Person discharging
managerial responsibilities ("PDMR") / person closely associated
with them ("PCA")
|
|
a)
|
Name
|
Patrick Moloney
|
|
2.
|
Reason for the
notification
|
|
a)
|
Position / status
|
Chief Executive Officer
|
|
b)
|
Initial notification /
amendment
|
Initial notification
|
|
3.
|
Details of the issuer, emission
allowance market participant, auction platform, auctioneer or
auction monitor
|
|
a)
|
Name
|
Litigation Capital Management
Limited
|
|
b)
|
Legal Entity Identifier
|
213800J2B5SI8F515244
|
|
4.
|
Details of the transaction(s):
section to be repeated for (i) each type of instrument; (ii) each
type of transaction; (iii) each date; and (iv) each place where
transactions have been conducted
|
|
a)
|
Description of the financial
instrument
|
Ordinary Shares of no par value
|
|
b)
|
Nature of the transaction
|
Sale of Ordinary Shares
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
112 pence
|
75,991
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Aggregated price
- Aggregated total
|
N/A
single transaction
|
|
e)
|
Date of the transaction
|
28 October 2024 (UK)
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|