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Burford Capital Ltd (BUR)

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Friday 02 August, 2019

Burford Capital Ltd

Notification of transactions by PDMRs

RNS Number : 8017H
Burford Capital Limited
02 August 2019
 

2 August 2019

 
Notification of transactions by persons discharging managerial responsibilities

Burford Capital Limited ("Burford"), the leading global finance and investment management firm focused on law, has been notified of the usual annual transactions associated with certain estate planning by Christopher P. Bogart, Burford's Chief Executive Officer, and Jonathan Molot, Burford's Chief Investment Officer.

As announced previously, Mr Bogart transferred 7,647,727 ordinary shares in Burford to Christopher Bogart LLC ("CB LLC"), a company which is controlled by Mr Bogart. Ongoing annual movement of ownership interests in CB LLC back-and-forth between Mr Bogart and annual trusts established by Mr Bogart of which he and his family members are the beneficiaries is expected as a normal part of the US estate planning undertaken. Certain further such movements occurred as of 1 August 2019, with a 40.582321% interest in CB LLC being returned to Mr Bogart from the Christopher P. Bogart 2018 Trust. Mr Bogart subsequently transferred a 40.582321% interest in CB LLC to the Christopher P. Bogart 2019 Trust, of which Mr Bogart is initially the sole beneficiary. These transfers do not affect the overall interest in shares in Burford held by Mr Bogart and the associated annual trusts.

As announced previously, Mr Molot transferred 4,000,000 ordinary shares in Burford to Jonathan Molot LLC ("JM LLC"), a company which is controlled by Mr Molot. Ongoing annual movement of ownership interests in JM LLC back-and-forth between Mr Molot and annual trusts established by Mr Molot of which he and his family members are the beneficiaries is expected as a normal part of the US estate planning undertaken. Certain further such movements occurred as of 1 August 2019, with a 2.89204% interest in JM LLC being returned to Mr Molot from the Jonathan T. Molot 2017 Trust, and a 15.7978% interest in JM LLC being returned to Mr Molot from the Jonathan T. Molot 2018 Trust. Mr Molot subsequently transferred a 41.8878% interest in JM LLC to the Jonathan T. Molot 2019 Trust, of which Mr Molot is initially the sole beneficiary. These transfers do not affect the overall interest in shares in Burford held by Mr Molot and the associated annual trusts.

The Notification of Dealing Forms for each of the transfers mentioned above are included at the end of this announcement. These notifications are provided in accordance with the requirements of the Market Abuse Regulation.

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

 

Alex Reynolds

 

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

 

Montfort Communications Limited - Financial Communications

+44 (0)20 3770 7908

Robert Bailhache - email

 

About Burford Capital

Burford Capital is the 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, Washington DC, Singapore and Sydney.

For more information about Burford: www.burfordcapital.com

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

 

(a)    Name

Christopher Bogart

2

Reason for the notification

 

 

(a)    Position/status

A PDMR occupying the position of Chief Executive Officer

 

(b)   Initial notification /Amendment

Initial

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

(a)    Name

Burford Capital Limited

 

(b)   LEI

549300FUKUWFYJMT2277

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, type of instrument

40.582321% interest in Christopher Bogart LLC, which holds 7,647,727 shares in Burford Capital Limited

 

Identification code

N/A

 

(b)   Nature of the transaction

Transfer of membership interests from Christopher P. Bogart 2018 Trust

 

(c)    Price(s)and volume(s)

Price(s)

Volume(s)

Zero

40.582321% interest

 

 

 

(d)   Aggregated information

·    Aggregated volume

·    Price

N/A

 

(e)    Date of the transaction

1 August 2019

 

(f)    Place of the transaction

N/A

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

 

(a)    Name

Christopher P. Bogart 2018 Trust

2

Reason for the notification

 

(a)    Position/status

A person closely associated with Christopher Bogart, a PDMR occupying the position of Chief Executive Officer

 

(b)   Initial notification /Amendment

Initial

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

(a)    Name

Burford Capital Limited

 

(b)   LEI

549300FUKUWFYJMT2277

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, type of instrument

40.582321% interest in Christopher Bogart LLC, which holds 7,647,727 shares in Burford Capital Limited

 

Identification code

N/A

 

(b)   Nature of the transaction

Transfer of membership interests to Christopher Bogart

 

(c)    Price(s)and volume(s)

Price(s)

Volume(s)

Zero

40.582321% interest

 

 

 

(d)   Aggregated information

·    Aggregated volume

·    Price

N/A

 

(e)    Date of the transaction

1 August 2019

 

(f)    Place of the transaction

N/A

 

1

Details of the person discharging managerial responsibilities/person closely associated

 

(a)    Name

Christopher Bogart

2

Reason for the notification

 

 

(a)    Position/status

A PDMR occupying the position of Chief Executive Officer

 

(b)   Initial notification /Amendment

Initial

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

(a)    Name

Burford Capital Limited

 

(b)   LEI

549300FUKUWFYJMT2277

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, type of instrument

40.582321% interest in Christopher Bogart LLC, which holds 7,647,727 shares in Burford Capital Limited

 

Identification code

N/A

 

(b)   Nature of the transaction

Transfer of membership interests to Christopher P. Bogart 2019 Trust

 

(c)    Price(s)and volume(s)

Price(s)

Volume(s)

Zero

40.582321% interest

 

 

 

(d)   Aggregated information

·    Aggregated volume

·    Price

N/A

 

(e)    Date of the transaction

1 August 2019

 

(f)    Place of the transaction

N/A

 

1

Details of the person discharging managerial responsibilities/person closely associated

 

(a)    Name

Christopher P. Bogart 2019 Trust

2

Reason for the notification

 

(a)    Position/status

A person closely associated with Christopher Bogart, a PDMR occupying the position of Chief Executive Officer

 

(b)   Initial notification /Amendment

Initial

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

(a)    Name

Burford Capital Limited

 

(b)   LEI

549300FUKUWFYJMT2277

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, type of instrument

40.582321% interest in Christopher Bogart LLC, which holds 7,647,727 shares in Burford Capital Limited

 

Identification code

N/A

 

(b)   Nature of the transaction

Transfer of membership interests from Christopher Bogart

 

(c)    Price(s)and volume(s)

Price(s)

Volume(s)

Zero

40.582321% interest

 

 

 

(d)   Aggregated information

·    Aggregated volume

·    Price

N/A

 

(e)    Date of the transaction

1 August 2019

 

(f)    Place of the transaction

N/A

 

 

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

 

(a)    Name

Jonathan T. Molot 2017 Trust

2

Reason for the notification

 

(a)    Position/status

A person closely associated with Jonathan Molot, a PDMR occupying the position of Chief Investment Officer

 

(b)   Initial notification /Amendment

Initial

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

(a)    Name

Burford Capital Limited

 

(b)   LEI

549300FUKUWFYJMT2277

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, type of instrument

2.89204% interest in Jonathan Molot LLC, which holds 4,000,000 shares in Burford Capital Limited

 

Identification code

N/A

 

(b)   Nature of the transaction

Transfer of membership interests to Jonathan Molot

 

(c)    Price(s)and volume(s)

Price(s)

Volume(s)

Zero

2.89204% interest

 

 

 

(d)   Aggregated information

·    Aggregated volume

·    Price

N/A

 

(e)    Date of the transaction

1 August 2019

 

(f)    Place of the transaction

N/A

 

1

Details of the person discharging managerial responsibilities/person closely associated

 

(a)    Name

Jonathan Molot

2

Reason for the notification

 

(a)    Position/status

A PDMR occupying the position of Chief Investment Officer

 

(b)   Initial notification /Amendment

Initial

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

(a)    Name

Burford Capital Limited

 

(b)   LEI

549300FUKUWFYJMT2277

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, type of instrument

2.89204% interest in Jonathan Molot LLC, which holds 4,000,000 shares in Burford Capital Limited

 

Identification code

N/A

 

(b)   Nature of the transaction

Transfer of membership interests from Jonathan T. Molot 2017 Trust

 

(c)    Price(s)and volume(s)

Price(s)

Volume(s)

Zero

2.89204% interest

 

 

 

(d)   Aggregated information

·    Aggregated volume

·    Price

N/A

 

(e)    Date of the transaction

1 August 2019

 

(f)    Place of the transaction

N/A

 

1

Details of the person discharging managerial responsibilities/person closely associated

 

(a)    Name

Jonathan T. Molot 2018 Trust

2

Reason for the notification

 

(a)    Position/status

A person closely associated with Jonathan Molot, a PDMR occupying the position of Chief Investment Officer

 

(b)   Initial notification /Amendment

Initial

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

(a)    Name

Burford Capital Limited

 

(b)   LEI

549300FUKUWFYJMT2277

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, type of instrument

15.7978% interest in Jonathan Molot LLC, which holds 4,000,000 shares in Burford Capital Limited

 

Identification code

N/A

 

(b)   Nature of the transaction

Transfer of membership interests to Jonathan Molot

 

(c)    Price(s)and volume(s)

Price(s)

Volume(s)

Zero

15.7978% interest

 

 

 

(d)   Aggregated information

·    Aggregated volume

·    Price

N/A

 

(e)    Date of the transaction

1 August 2019

 

(f)    Place of the transaction

N/A

 

1

Details of the person discharging managerial responsibilities/person closely associated

 

(a)    Name

Jonathan Molot

2

Reason for the notification

 

(a)    Position/status

A PDMR occupying the position of Chief Investment Officer

 

(b)   Initial notification /Amendment

Initial

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

(a)    Name

Burford Capital Limited

 

(b)   LEI

549300FUKUWFYJMT2277

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, type of instrument

15.7978% interest in Jonathan Molot LLC, which holds 4,000,000 shares in Burford Capital Limited

 

Identification code

N/A

 

(b)   Nature of the transaction

Transfer of membership interests from Jonathan T. Molot 2018 Trust

 

(c)    Price(s)and volume(s)

Price(s)

Volume(s)

Zero

15.7978% interest

 

 

 

(d)   Aggregated information

·    Aggregated volume

·    Price

N/A

 

(e)    Date of the transaction

1 August 2019

 

(f)    Place of the transaction

N/A

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

 

(a)    Name

Jonathan T. Molot 2019 Trust

2

Reason for the notification

 

(a)    Position/status

A person closely associated with Jonathan Molot, a PDMR occupying the position of Chief Investment Officer

 

(b)   Initial notification /Amendment

Initial

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

(a)    Name

Burford Capital Limited

 

(b)   LEI

549300FUKUWFYJMT2277

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, type of instrument

41.8878% interest in Jonathan Molot LLC, which holds 4,000,000 shares in Burford Capital Limited

 

Identification code

N/A

 

(b)   Nature of the transaction

Transfer of membership interests from Jonathan Molot

 

(c)    Price(s)and volume(s)

Price(s)

Volume(s)

Zero

41.8878% interest

 

 

 

(d)   Aggregated information

·    Aggregated volume

·    Price

N/A

 

(e)    Date of the transaction

1 August 2019

 

(f)    Place of the transaction

N/A

 

1

Details of the person discharging managerial responsibilities/person closely associated

 

(a)    Name

Jonathan Molot

2

Reason for the notification

 

(a)    Position/status

A PDMR occupying the position of Chief Investment Officer

 

(b)   Initial notification /Amendment

Initial

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

(a)    Name

Burford Capital Limited

 

(b)   LEI

549300FUKUWFYJMT2277

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, type of instrument

41.8878% interest in Jonathan Molot LLC, which holds 4,000,000 shares in Burford Capital Limited

 

Identification code

N/A

 

(b)   Nature of the transaction

Transfer of membership interests to Jonathan T. Molot 2019 Trust

 

(c)    Price(s)and volume(s)

Price(s)

Volume(s)

Zero

41.8878% interest

 

 

 

(d)   Aggregated information

·    Aggregated volume

·    Price

N/A

 

(e)    Date of the transaction

1 August 2019

 

(f)    Place of the transaction

N/A

 


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