REG - Burford Capital Ltd - Issue of Equity & Director/PDMR Shareholding
10/04/2025 12:00
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RNS Number : 5174E Burford Capital Limited 10 April 2025
April 10, 2025
Notification of Transactions By Persons Discharging Managerial
Responsibilities and Issuance of New Shares in Connection with LTIP
Burford Capital Limited ("Burford"), 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").
Vesting of Restricted Share Units and Performance-Based Restricted Share Units
The table below sets forth the number of restricted share units ("RSUs") and
performance-based RSUs ("PSUs") granted in 2022 to PDMRs under the Burford
Capital 2016 Long Term Incentive Plan (the "LTIP") that vested on April 5,
2025 following the satisfaction of the service-based and performance-based
conditions and the net number of Burford's ordinary shares of nil par value
("Shares") delivered to the respective PDMR after giving effect to any tax
withholding.
In addition, certain PDMRs elected to defer the receipt of Shares described
above under the Burford Capital deferred compensation plan and, as a result,
no Shares were delivered to such PDMRs at this time. Thus, the table below
also sets forth the number of Shares deferred by certain PDMRs under the
Burford Capital deferred compensation plan after giving effect to any tax
withholding.
PDMR Number of RSUs/PSUs vested on April 5, 2025 under the LTIP Net number of Shares delivered to the PDMR on April 8, 2025 Net number of Shares deferred under the Burford Capital deferred compensation
plan
Craig Arnott 13,441/13,441 26,882 -
Christopher Bogart 74,819/74,819 - 146,120
Mark Klein 13,441/13,441 13,158 -
Jonathan Molot 74,819/74,819 - 146,120
Elizabeth O'Connell 13,441/13,441 - 26,250
David Perla 13,441/13,441 - 26,250
Aviva Will 13,441/13,441 - 26,250
The Notification of Dealing Forms for each of the transactions set forth above
are included at the end of this announcement.
Issuance of New Shares In Connection With LTIP
To satisfy the firm-wide vesting of awards under the LTIP, Burford also
announces that it issued 340,685 new Shares on April 8, 2025.
Application will be made for these 340,685 new Shares to be admitted to
trading on the AIM market of the London Stock Exchange plc. The expected date
of admission is April 17, 2025. These 340,685 new Shares will also be listed
on the New York Stock Exchange.
Following the issuance of these new Shares, the Company's issued ordinary
share capital is 220,432,536, of which 1,769,947 Shares are held in treasury
and do not have any voting rights. Therefore, the total number of voting
rights in the Company, excluding treasury shares, will be 218,662,589 after
giving effect to this issuance of new Shares. This figure for the total number
of voting rights may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to notify their
interest in the Company under the Disclosure Guidance and Transparency Rules
of the UK Financial Conduct Authority.
For further information, please contact:
Burford Capital Limited
For investor and analyst inquiries:
Americas: Josh Wood, Head of Investor Relations - email +1 212 516 5824
(mailto:jwood@burfordcapital.com)
EMEA & Asia: Rob Bailhache, Head of EMEA & Asia Investor Relations - +44 (0)20 3530 2023
email (mailto:rbailhache@burfordcapital.com)
For press inquiries:
David Helfenbein, Senior Vice President, Public Relations - email +1 212 516 5824
(mailto:media@burfordcapital.com)
Deutsche Numis - 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
James Umbers
Berenberg - Joint Broker +44 (0)20 3207 7800
Toby Flaux
James Thompson
Yasmina Benchekroun
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, D.C.,
Singapore, Dubai and Hong Kong.
For more information, please visit www.burfordcapital.com
(http://www.burfordcapital.com) .
This press release does not constitute an offer to sell or the solicitation of
an offer to buy any ordinary shares or other securities of Burford.
This press release 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 press
release is for informational purposes only. Past performance is not indicative
of future results. The information contained in this press release is not, and
should not be construed as, an offer to sell or the solicitation of an offer
to buy any securities (including 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 press release contains "forward-looking statements" within the meaning of
Section 27A of the US Securities Act of 1933, as amended, and Section 21E of
the US Securities Exchange Act of 1934, as amended, that are intended to be
covered by the safe harbor provided for under these sections. In some cases,
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. Although Buford believes that the assumptions, expectations,
projections, intentions and beliefs about future results and events reflected
in forward-looking statements have a reasonable basis and are expressed in
good faith, forward-looking statements involve known and unknown risks,
uncertainties and other factors, which could cause Burford's actual results
and events to differ materially from (and be more negative than) future
results and events expressed, projected or implied by these forward-looking
statements. Factors that might cause future results and events to differ
include, among others, those discussed in the "Risk Factors" section of
Burford's Annual Report on Form 10-K for the year ended December 31, 2024
filed with the US Securities and Exchange Commission on March 3, 2025. These
factors should not be construed as exhaustive and should be read in
conjunction with the other cautionary statements contained in the periodic and
current reports that Burford files with or furnishes to the US Securities and
Exchange Commission. Many of these factors are beyond Burford's ability to
control or predict, and new factors emerge from time to time. Furthermore,
Burford cannot assess the impact of each such factor on its business or the
extent to which any factor or combination of factors may cause actual results
and events to be materially different from those contained in any
forward-looking statement. Given these uncertainties, readers are cautioned
not to place undue reliance on Burford's forward-looking statements.
All subsequent written and oral forward-looking statements attributable to
Burford or to persons acting on its behalf are expressly qualified in their
entirety by these cautionary statements. The forward-looking statements speak
only as of the date of this press release and, except as required by
applicable law, Burford undertakes no obligation to update or revise any
forward-looking statements, 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
Identification code GG00BMGYLN96
(b) Nature of the transaction Delivery of Ordinary Shares following vesting of share award under the Burford
Capital 2016 Long Term Incentive Plan
(c) Price(s)and volume(s) Price(s) Volume(s)
$ 11.92 26,882 (total vesting)
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction 8 April 2025
(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
Identification code GG00BMGYLN96
(b) Nature of the transaction Crediting of Ordinary Shares that have vested but not been delivered under the
Burford Capital 2016 Long Term Incentive Plan into Mr. Bogart's restricted
stock unit account pursuant to Burford's deferred compensation plan
(c) Price(s)and volume(s) Price(s) Volume(s)
$ 11.92 146,120
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction 8 April 2025
(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
Identification code GG00BMGYLN96
(b) Nature of the transaction Delivery of Ordinary Shares following vesting of share award under the Burford
Capital 2016 Long Term Incentive Plan. After the settlement of tax, the
individual described above received net 13,158 shares.
(c) Price(s)and volume(s) Price(s) Volume(s)
i. $ 11.92 26,882 (total vesting)
13,158 (total net shares)
ii. $ 11.92
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction 8 April 2025
(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
Identification code GG00BMGYLN96
(b) Nature of the transaction Crediting of Ordinary Shares that have vested but not been delivered under the
Burford Capital 2016 Long Term Incentive Plan into Mr. Molot's restricted
stock unit account pursuant to Burford's deferred compensation plan
(c) Price(s)and volume(s) Price(s) Volume(s)
$ 11.92 146,120
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction 8 April 2025
(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
Identification code GG00BMGYLN96
(b) Nature of the transaction Crediting of Ordinary Shares that have vested but not been delivered under the
Burford Capital 2016 Long Term Incentive Plan into Ms. O'Connell's restricted
stock unit account pursuant to Burford's deferred compensation plan
(c) Price(s)and volume(s) Price(s) Volume(s)
$ 11.92 26,250
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction 8 April 2025
(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 Vice Chair
(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
Identification code GG00BMGYLN96
(b) Nature of the transaction Crediting of Ordinary Shares that have vested but not been delivered under the
Burford Capital 2016 Long Term Incentive Plan into Mr. Perla's restricted
stock unit account pursuant to Burford's deferred compensation plan
(c) Price(s)and volume(s) Price(s) Volume(s)
$ 11.92 26,250
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction 8 April 2025
(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 President
(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
Identification code GG00BMGYLN96
(b) Nature of the transaction Crediting of Ordinary Shares that have vested but not been delivered under the
Burford Capital 2016 Long Term Incentive Plan into Ms. Will's restricted stock
unit account pursuant to Burford's deferred compensation plan
(c) Price(s)and volume(s) Price(s) Volume(s)
$ 11.92 26,250
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction 8 April 2025
(f) Place of the transaction Outside a trading venue
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