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Burford Capital Ltd (BUR)

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Friday 01 May, 2020

Burford Capital Ltd

Notification of transactions by PDMRs

RNS Number : 6995L
Burford Capital Limited
01 May 2020
 

1 May 2020

Notification of transactions by persons discharging managerial responsibilities

Burford Capital Limited ("Burford"), the leading global finance and asset 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 30 April 2020, with a 59.417679% and a 40.582321% interest in CB LLC being returned to Mr Bogart from the Christopher P. Bogart 2018 Trust and Christopher P. Bogart 2019 Trust, respectively; those interests were in turn transferred on 1 May 2020 to the Christopher P. Bogart 2020 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 trust.

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. On 30 April 2020, Mr Molot transferred a further 2,000,000 ordinary shares in Burford to JM LLC. 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. As of 1 May 2020, Mr Molot transferred a 33.1815% interest in JM LLC to the Jonathan T. Molot 2020 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


Jim Kilman, Chief Financial Officer

+1 917 985 9840

Robert Bailhache, Head of Investor Relations -  email

+44 (0)20 3530 2023



Macquarie Capital (Europe) Limited - NOMAD and Joint Broker

+44 (0)20 3037 2000

Jonny Allison

 

Alex Reynolds

 

Jefferies International Limited  - Joint Broker

+44 (0)20 7029 8000

Graham Davidson

 

Tony White

 

Numis Securities Limited - Joint Broker

+44 (0)20 7260 1000

Charlie Farquhar

 

Jonathan Abbott

 

About Burford Capital

Burford Capital is the leading global finance and asset 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, Singapore and Sydney.

 

For more information about Burford:  www.burfordcapital.com

 

This release does not constitute an offer of any Burford fund.  Burford Capital Investment Management LLC ("BCIM"), which acts as the fund manager of all Burford funds, is registered as an investment adviser with the U.S. Securities and Exchange Commission. The information provided herein is for informational purposes only. Past performance is not indicative of future results. The information contained herein is not, and should not be construed as, an offer to sell or the solicitation of an offer to buy any securities (including, without limitation, interests or shares in the funds). Any such offer or solicitation may be made only by means of a final confidential Private Placement Memorandum and other offering documents.

 

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

59.417679% interest in Christopher Bogart LLC, which holds 7,647,727 shares in Burford Capital Limited

 

Identification code

N/A

 

(b)  Nature of the transaction

Acquisition of membership interests from Christopher P. Bogart 2018 Trust

 

(c)  Price(s)and volume(s)

Price(s)

Volume(s)

$32,730,636.66

59.417679% interest

 

 

 

(d)  Aggregated information

· Aggregated volume

· Price

N/A

 

(e)  Date of the transaction

30 April 2020

 

(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

59.417679% interest in Christopher Bogart LLC, which holds 7,647,727 shares in Burford Capital Limited

 

Identification code

N/A

 

(b)  Nature of the transaction

Disposal of membership interests to Christopher Bogart

 

(c)  Price(s)and volume(s)

Price(s)

Volume(s)

$32,730,636.66

59.417679% interest

 

 

 

(d)  Aggregated information

· Aggregated volume

· Price

N/A

 

(e)  Date of the transaction

30 April 2020

 

(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

Acquisition of membership interests from Christopher P. Bogart 2019 Trust

 

(c)  Price(s)and volume(s)

Price(s)

Volume(s)

$22,355,050.31

40.582321% interest

 

 

 

(d)  Aggregated information

· Aggregated volume

· Price

N/A

 

(e)  Date of the transaction

30 April 2020

 

(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

Disposal of membership interests to Christopher Bogart

 

(c)  Price(s)and volume(s)

Price(s)

Volume(s)

$22,355,050.31

40.582321% interest

 

 

 

(d)  Aggregated information

· Aggregated volume

· Price

N/A

 

(e)  Date of the transaction

30 April 2020

 

(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

100% 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 2020 Trust

 

(c)  Price(s)and volume(s)

Price(s)

Volume(s)

Zero

100% interest

 

 

 

(d)  Aggregated information

· Aggregated volume

· Price

N/A

 

(e)  Date of the transaction

1 May 2020

 

(f)  Place of the transaction

N/A

 

1

Details of the person discharging managerial responsibilities/person closely associated

 

(a)  Name

Christopher P. Bogart 2020 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

100% 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

100% interest

 

 

 

(d)  Aggregated information

· Aggregated volume

· Price

N/A

 

(e)  Date of the transaction

1 May 2020

 

(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

Ordinary shares of nil par value

 

Identification code

GG00B4L84979

 

(b)  Nature of the transaction

Gift of shares to Jonathan Molot LLC

 

(c)  Price(s)and volume(s)

Price(s)

Volume(s)

Zero

2,000,000

 

 

 

(d)  Aggregated information

· Aggregated volume

· Price

N/A

 

(e)  Date of the transaction

30 April 2020

 

(f)  Place of the transaction

London Stock Exchange

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

 

(a)  Name

Jonathan Molot LLC

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

Ordinary shares of nil par value

 

Identification code

GG00B4L84979

 

(b)  Nature of the transaction

Gift of shares from Jonathan Molot

 

(c)  Price(s)and volume(s)

Price(s)

Volume(s)

Zero

2,000,000

 

 

 

(d)  Aggregated information

· Aggregated volume

· Price

N/A

 

(e)  Date of the transaction

30 April 2020

 

(f)  Place of the transaction

London Stock Exchange

 

 

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

33.1815% interest in Jonathan Molot LLC, which holds 6,000,000 shares in Burford Capital Limited

 

Identification code

N/A

 

(b)  Nature of the transaction

Transfer of membership interests to Jonathan T. Molot 2020 Trust

 

(c)  Price(s)and volume(s)

Price(s)

Volume(s)

Zero

33.1815% interest

 

 

 

(d)  Aggregated information

· Aggregated volume

· Price

N/A

 

(e)  Date of the transaction

1 May 2020

 

(f)  Place of the transaction

N/A

 

1

Details of the person discharging managerial responsibilities/person closely associated

 

(a)  Name

Jonathan T. Molot 2020 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

33.1815% interest in Jonathan Molot LLC, which holds 6,000,000 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

33.1815% interest

 

 

 

(d)  Aggregated information

· Aggregated volume

· Price

N/A

 

(e)  Date of the transaction

1 May 2020

 

(f)  Place of the transaction

N/A

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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