REG - Burford Capital Ltd - Director/PDMR Shareholding
22/03/2023 16:00
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RNS Number : 9067T Burford Capital Limited 22 March 2023
22 March 2023
BURFORD CAPITAL LIMITED
Notification of transactions by persons discharging managerial
responsibilities
Burford Capital Limited, the leading global finance and asset management firm
focused on law, provides the following notification of various transactions by
persons discharging managerial responsibilities (each, a "PDMR").
With respect to the Burford Capital 2016 Long Term Incentive Plan (the
"LTIP"), the table below shows (i) the vesting on March 17, 2023 of awards
granted in prior years following the satisfaction of the performance
conditions related thereto and (ii) new grants made as part of Burford's usual
annual compensation cycle on March 22, 2023, 50% of which are subject to
performance conditions.
PDMR Number of ordinary shares granted on March 22, 2023 under the LTIP Number of previously granted ordinary shares vested on March 17, 2023 under Net number of ordinary shares delivered to the PDMR following vesting on March Total number of ordinary shares held by the PDMR*
the LTIP 17, 2023 and tax withholding
Craig Arnott 36,873 125,447 125,447 303,877
Christopher Bogart 215,136 125,447 61,407 9,987,099
Mark Klein 36,873 41,816 26,742 147,201
Jordan Licht 36,873 - - 140,085
Jonathan Molot 215,136 125,447 62,599 10,593,060
Elizabeth O'Connell 36,873 108,721 53,220 236,759
David Perla 36,873 108,721 53,111 265,674
Aviva Will 36,873 125,447 56,843 436,822
*Includes unvested ordinary shares granted under the LTIP and ordinary shares
allocated under the Burford employee deferred compensation plan, including any
unvested matching contribution by Burford.
The Notification of Dealing Forms for each of the transactions set forth above
are included at the end of this announcement.
For further information, please contact:
Burford Capital Limited
For investor and analyst inquiries:
Robert Bailhache, Head of Investor Relations, EMEA and Asia - email +44 (0)20 3530 2023
(mailto:rbailhache@burfordcapital.com)
Jim Ballan, Head of Investor Relations, Americas - email +1 (646) 793 9176
(mailto:JBallan@burfordcapital.com)
For press inquiries:
David Helfenbein, Vice President, Public Relations - email +1 (212) 235 6824
(mailto:dhelfenbein@burfordcapital.com)
Numis Securities Limited - NOMAD and Joint Broker +44 (0)20 7260 1000
Giles Rolls
Charlie Farquhar
Jefferies International Limited - Joint Broker +44 (0)20 7029 8000
Graham Davidson
Tony White
Berenberg - Joint Broker +44 (0)20 3207 7800
Toby Flaux
James Thompson
Arnav Kapoor
About Burford Capital
Burford Capital is the leading global finance and asset management firm
focused on law. Its businesses include litigation finance
(https://www.burfordcapital.com/) and risk management, asset recovery and a
wide range of legal finance and advisory activities. Burford is publicly
traded on the New York Stock Exchange (NYSE: BUR) and the London Stock
Exchange (LSE: BUR), and it works with companies and law firms around the
world from its offices in New York, London, Chicago, Washington, DC,
Singapore, Dubai, Sydney and Hong Kong.
For more information, please visit www.burfordcapital.com
(http://www.burfordcapital.com) .
This announcement does not constitute an offer to sell or the solicitation of
an offer to buy any ordinary shares or other securities of Burford.
This announcement does not constitute an offer of any Burford private fund.
Burford Capital Investment Management LLC, which acts as the fund manager of
all Burford private funds, is registered as an investment adviser with the US
Securities and Exchange Commission. The information provided in this
announcement is for informational purposes only. Past performance is not
indicative of future results. The information contained in this announcement
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 any of Burford private funds). Any such offer or solicitation may be
made only by means of a final confidential private placement memorandum and
other offering documents.
Forward-looking statements
This announcement contains "forward-looking statements" within the meaning of
Section 21E of the US Securities Exchange Act of 1934, as amended, regarding
assumptions, expectations, projections, intentions and beliefs about future
events. These statements are intended as "forward-looking statements". In some
cases, predictive, future-tense or forward-looking words such as "aim",
"anticipate", "believe", "continue", "could", "estimate", "expect",
"forecast", "guidance", "intend", "may", "plan", "potential", "predict",
"projected", "should" or "will" or the negative of such terms or other
comparable terminology are intended to identify forward-looking statements,
but are not the exclusive means of identifying such statements. In addition,
Burford and its representatives may from time to time make other oral or
written statements which are forward-looking statements, including in its
periodic reports that Burford files with, or furnishes to, the US Securities
and Exchange Commission, other information sent to Burford's security holders
and other written materials. By their nature, forward-looking statements
involve known and unknown risks, uncertainties and other factors because they
relate to events and depend on circumstances that may or may not occur in the
future. Burford cautions you that forward-looking statements are not
guarantees of future performance and are based on numerous assumptions,
expectations, projections, intentions and beliefs and that Burford's actual
results of operations, including its financial position and liquidity, and the
development of the industry in which it operates, may differ materially from
(and be more negative than) those made in, or suggested by, the
forward-looking statements contained in this announcement. Significant factors
that may cause actual results to differ from those Burford expects include,
among others, (i) impacts resulting from changes to Burford's valuation policy
for capital provision assets, including any requirement to recast or restate
Burford's historical financial statements and/or disclose a material weakness
in internal controls in connection with these changes, (ii) the successful
completion of audit and other procedures and other conditions necessary to
issue Burford's audited financial statements and to file Burford's annual
report on Form 20-F for the year ended December 31, 2022 with the US
Securities and Exchange Commission and (iii) those discussed under "Risk
Factors" in Burford's annual report on Form 20-F for the year ended December
31, 2021 filed with the US Securities and Exchange Commission on March 29,
2022, Burford's interim report on Form 6-K furnished to the US Securities and
Exchange Commission on August 9, 2022 and other reports or documents that
Burford files with, or furnishes to, the SEC from time to time. In addition,
even if Burford's results of operations, including its financial position and
liquidity, and the development of the industry in which it operates are
consistent with the forward-looking statements contained in this announcement,
those results of operations or developments may not be indicative of results
of operations or developments in subsequent periods.
Except as required by law, Burford undertakes no obligation to update or
revise the forward-looking statements contained in this announcement, whether
as a result of new information, future events or otherwise.
1 Details of the person discharging managerial responsibilities/person closely
associated
(a) Name Craig Arnott
2 Reason for the notification
(a) Position/status A PDMR occupying the position of Deputy 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 GG00BMGYLN96
(b) Nature of the transaction Vesting of share award under the Burford Capital 2016 Long Term Incentive Plan
(c) Price(s)and volume(s) Price(s) Volume(s)
552.50p 125,447 (total vesting)
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction March 17, 2023
(f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
(a) Name Craig Arnott
2 Reason for the notification
(a) Position/status A PDMR occupying the position of Deputy 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 GG00BMGYLN96
(b) Nature of the transaction Grant of share award under the Burford Capital 2016 Long Term Incentive Plan
(c) Price(s)and volume(s) Price(s) Volume(s)
$6.78 36,873
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction March 22, 2023
(f) Place of the transaction Outside a trading venue
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 Ordinary Shares of nil par value
Identification code GG00BMGYLN96
(b) Nature of the transaction Vesting of share award under the Burford Capital 2016 Long Term Incentive
Plan. After the settlement of tax, the individual described above received net
61,407 shares.
(c) Price(s)and volume(s) Price(s) Volume(s)
(i) $6.75 125,447 (total vesting)
(ii) $6.75 61,407 (total net shares)
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction March 17, 2023
(f) Place of the transaction Outside a trading venue
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 Ordinary Shares of nil par value
Identification code GG00BMGYLN96
(b) Nature of the transaction Grant of share award under the Burford Capital 2016 Long Term Incentive Plan
(c) Price(s)and volume(s) Price(s) Volume(s)
$6.78 215,136
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction March 22, 2023
(f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
(a) Name Mark Klein
2 Reason for the notification
(a) Position/status A PDMR occupying the position of General Counsel and Chief Administrative
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 GG00BMGYLN96
(b) Nature of the transaction Vesting of share award under the Burford Capital 2016 Long Term Incentive
Plan. After the settlement of tax, the individual described above received
net 26,742 shares.
(c) Price(s)and volume(s) Price(s) Volume(s)
(i) $6.75 41,816 (total vesting)
(ii) $6.75 26,742 (total net shares)
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction March 17, 2023
(f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
(a) Name Mark Klein
2 Reason for the notification
(a) Position/status A PDMR occupying the position of General Counsel and Chief Administrative
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 GG00BMGYLN96
(b) Nature of the transaction Grant of share award under the Burford Capital 2016 Long Term Incentive Plan
(c) Price(s)and volume(s) Price(s) Volume(s)
$6.78 36,873
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction March 22, 2023
(f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
(a) Name Jordan Licht
2 Reason for the notification
(a) Position/status A PDMR occupying the position of Chief Financial 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 GG00BMGYLN96
(b) Nature of the transaction Grant of share award under the Burford Capital 2016 Long Term Incentive Plan
(c) Price(s)and volume(s) Price(s) Volume(s)
$6.78 36,873
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction March 22, 2023
(f) Place of the transaction Outside a trading venue
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 GG00BMGYLN96
(b) Nature of the transaction Vesting of share award under the Burford Capital 2016 Long Term Incentive
Plan. After the settlement of tax, the individual described above received
net 62,599 shares.
(c) Price(s)and volume(s) Price(s) Volume(s)
(i) $6.75 125,447 (total vesting)
(ii) $6.75 62,599 (total net shares)
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction March 17, 2023
(f) Place of the transaction Outside a trading venue
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 GG00BMGYLN96
(b) Nature of the transaction Grant of share award under the Burford Capital 2016 Long Term Incentive Plan
(c) Price(s)and volume(s) Price(s) Volume(s)
$6.78 215,136
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction March 22, 2023
(f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
(a) Name Elizabeth O'Connell
2 Reason for the notification
(a) Position/status A PDMR occupying the position of Chief Strategy 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 GG00BMGYLN96
(b) Nature of the transaction Vesting of share award under the Burford Capital 2016 Long Term Incentive
Plan. After the settlement of tax, the individual described above received
net 53,220 shares.
(c) Price(s)and volume(s) Price(s) Volume(s)
(i) $6.75 108,721 (total vesting)
(ii) $6.75 53,220 (total net shares)
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction March 17, 2023
(f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
(a) Name Elizabeth O'Connell
2 Reason for the notification
(a) Position/status A PDMR occupying the position of Chief Strategy 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 GG00BMGYLN96
(b) Nature of the transaction Grant of share award under the Burford Capital 2016 Long Term Incentive Plan
(c) Price(s)and volume(s) Price(s) Volume(s)
$6.78 36,873
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction March 22, 2023
(f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
(a) Name David Perla
2 Reason for the notification
(a) Position/status A PDMR occupying the position of Co-Chief Operating 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 GG00BMGYLN96
(b) Nature of the transaction Vesting of share award under the Burford Capital 2016 Long Term Incentive
Plan. After the settlement of tax, the individual described above received
net 53,111 shares.
(c) Price(s)and volume(s) Price(s) Volume(s)
(iii) $6.75 108,721 (total vesting)
(iv) $6.75 53,111 (total net shares)
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction March 17, 2023
(f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
(a) Name David Perla
2 Reason for the notification
(a) Position/status A PDMR occupying the position of Co-Chief Operating 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 GG00BMGYLN96
(b) Nature of the transaction Grant of share award under the Burford Capital 2016 Long Term Incentive Plan
(c) Price(s)and volume(s) Price(s) Volume(s)
$6.78 36,873
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction March 22, 2023
(f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
(a) Name Aviva Will
2 Reason for the notification
(a) Position/status A PDMR occupying the position of Co-Chief Operating 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 GG00BMGYLN96
(b) Nature of the transaction Vesting of share award under the Burford Capital 2016 Long Term Incentive
Plan. After the settlement of tax, the individual described above received
net 56,843 shares.
(c) Price(s)and volume(s) Price(s) Volume(s)
(v) $6.75 125,447 (total vesting)
(vi) $6.75 56,843 (total net shares)
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction March 17, 2023
(f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
(a) Name Aviva Will
2 Reason for the notification
(a) Position/status A PDMR occupying the position of Co-Chief Operating 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 GG00BMGYLN96
(b) Nature of the transaction Grant of share award under the Burford Capital 2016 Long Term Incentive Plan
(c) Price(s)and volume(s) Price(s) Volume(s)
$6.78 36,873
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction March 22, 2023
(f) Place of the transaction Outside a trading venue
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