Statement on Invesco Shareholding

RNS Number : 6691L
Burford Capital
20 April 2018
 

This announcement contains inside information.

 

20 April 2018

 

BURFORD CAPITAL STATEMENT ON INVESCO SHAREHOLDING

 

Burford Capital Limited ("Burford" or "the Company"), the leading global finance and investment management firm focused on law, has been informed by Invesco Perpetual ("Invesco") that it has completed a block sale of approximately 2.59 million shares of Burford's common stock.

 

Following this sale, Invesco owns 17.78% of Burford and its shareholding remains a core position in Invesco's funds.  Invesco has further informed Burford that its position is now a manageable size which Invesco is comfortable maintaining in the context of its funds.

 

 

Christopher Bogart, Burford's Chief Executive Officer, commented: 

 

"Burford is incredibly grateful for Invesco's longstanding support.  When we launched this business as a start-up in a nascent market, Invesco had the courage not merely to back our concept, but to ensure that our IPO succeeded, initially taking a 45% stake in the business.

 

"Since then, Invesco has remained a steadfast and supportive shareholder throughout Burford's evolution.  However, it is not optimal for a public company to have that degree of ownership concentration, and Invesco has slowly reduced its stake over time to less than half of its original position, allowing Burford to engage many new shareholders and increase daily equity liquidity substantially to the benefit of all shareholders. 

 

"We are very pleased that Invesco has completed this recent stock sale which allows for further diversification of Burford's ownership as well as taking Invesco to a comfortable level of shareholding."

 

The person responsible for arranging for the release of this announcement on behalf of the Company is Elizabeth O'Connell, Chief Financial Officer.

 

 

For further information, please contact:

 

Burford Capital Limited


Elizabeth O'Connell, CFA, Chief Financial Officer

+1 212 235 6825



Macquarie Capital (Europe) Limited - NOMAD and Joint Broker

+44 (0)20 3037 2000

Jonny Allison


Nicholas Harland




Liberum Capital Limited - Joint Broker

+44 (0)20 3100 2222

Richard Crawley


Jamie Richards




Numis Securities Limited - Joint Broker

+44 (0)20 7260 1000

Charlie Farquhar


Jonathan Abbott




Neustria Partners - Financial Communications for Burford Capital

+44 (0)20 3021 2580

Robert Bailhache [email]                                            


Charles Gorman [email]


Nick Henderson [email]


 

 

About Burford Capital

Burford Capital is a leading global finance and investment management firm focused on law. Its businesses include litigation finance and risk management, asset recovery and a wide range of legal finance and advisory activities. Burford is publicly traded on the London Stock Exchange, and it works with law firms and clients around the world from its principal offices in New York, London, Chicago and Singapore.

 

For more information about Burford: www.burfordcapital.com

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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