REG - Litigation Cap. Mgmt - Exercise of Awards

Litigation Capital ManagementAnnouncement

30/10/2024 07:00

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RNS Number : 1264K  Litigation Capital Management Ltd  30 October 2024

30 October 2024

Litigation Capital Management Limited

("LCM" or the "Company")

 

Exercise of Awards

 

Litigation Capital Management Limited (AIM:LIT), a leading international
alternative asset manager of disputes financing solutions, announces that
nil-cost option awards over the Company's ordinary shares of no par value
("Ordinary Shares") which were granted on 4 October 2022 and 4 October 2023
under the terms of the Company's Deferred Bonus Share Plan ("DBSP") have been
satisfied by the Employee Benefit Trust and vested to Chief Executive Officer,
Patrick Moloney on 4 October 2024 as shown in the table below:

 

 Name             Previous shareholding  Awards vested / options exercised  Shares sold  Current shareholding
 Patrick Moloney  10,452,100             168,531                            75,991       10,544,640

 

Following the vesting on 4 October 2024 and exercise on 28 October 2024, Mr
Moloney sold 75,991 Ordinary Shares (approximately 45% of the aggregate award)
to satisfy tax due on the vesting.

 

Employee Benefit Trust ('EBT')

 

The Company has an EBT. The EBT is a discretionary trust for the benefit of
the Company's employees, including the Directors of the Company. Following the
exercise of the options detailed above, the EBT of the Company currently holds
3,995,660 Ordinary Shares, representing 3.49 per cent. of the Company's total
voting rights.

 

Following these transactions, Mr Moloney has a beneficial interest in
10,544,640 Ordinary Shares representing 9.21 per cent. of the Company's issued
share capital.

The notification below, made in accordance with the requirements of the UK
Market Abuse Regulation, provides further details.

Enquiries

 

 Litigation Capital Management                           c/o Tavistock
 Patrick Moloney, Chief Executive Officer

 David Collins, Chief Financial Officer

 Cavendish (Nomad and Joint Broker)                      Tel: 020 7220 0500
 Jonny Franklin-Adams and Rory Sale (Corporate Finance)

 Tim Redfern and Jamie Anderson (Corporate Broking)

 Canaccord Genuity (Joint Broker)                        Tel: 020 7523 8000
 Bobbie Hilliam

 Tavistock (PR and IR)                                   Tel: 020 7920 3150
 Katie Hopkins                                           lcm@tavistock.co.uk (mailto:lcm@tavistock.co.uk)

 Simon Hudson

 

NOTES TO EDITORS

Litigation Capital Management (LCM) is an alternative asset manager
specialising in disputes financing solutions internationally, which operates
two business models. The first is direct investments made from LCM's permanent
balance sheet capital and the second is third party fund management. Under
those two business models, LCM currently pursues three investment strategies:
Single-case funding, Portfolio funding and Acquisitions of claims. LCM
generates its income from both its direct investments and also performance
fees through asset management.

 

LCM has an unparalleled track record driven by disciplined project selection
and robust risk management. Currently headquartered in Sydney, with offices in
London, Singapore, Brisbane and Melbourne, LCM listed on AIM in December 2018,
trading under the ticker LIT.

 

www.lcmfinance.com (http://www.lcmfinance.com/)

 

 1.  Details of the Person discharging managerial responsibilities ("PDMR") /
     person closely associated with them ("PCA")
 a)  Name                                     Patrick Moloney

 2.  Reason for the notification

 a)  Position / status                        Chief Executive Officer

 b)  Initial notification / amendment         Initial notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                     Litigation Capital Management Limited

 b)  Legal Entity Identifier                  213800J2B5SI8F515244

 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  Options over Ordinary Shares
 b)  Nature of the transaction                Vesting and Exercise of options

 c)  Price(s) and volume(s)                   Price(s)  Volume(s)
                                              N/a       168,531
 d)  Aggregated information                    N/A single transaction

     - Aggregated volume

     - Aggregated price

     - Aggregated total
 e)  Date of the transaction                  28 October 2024

 f)  Place of the transaction                 Outside a trading venue

d)

Aggregated information

- Aggregated volume

- Aggregated price

- Aggregated total

 N/A single transaction

e)

Date of the transaction

28 October 2024

 

f)

Place of the transaction

Outside a trading venue

 

 

 

 1.  Details of the Person discharging managerial responsibilities ("PDMR") /
     person closely associated with them ("PCA")
 a)  Name                                     Patrick Moloney

 2.  Reason for the notification
 a)  Position / status                        Chief Executive Officer

 b)  Initial notification / amendment         Initial notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                     Litigation Capital Management Limited
 b)  Legal Entity Identifier                  213800J2B5SI8F515244

 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  Ordinary Shares of no par value
 b)  Nature of the transaction                Sale of Ordinary Shares

 c)  Price(s) and volume(s)                   Price(s)   Volume(s)
                                              112 pence  75,991
 d)  Aggregated information                    N/A single transaction

     - Aggregated volume

     - Aggregated price

     - Aggregated total
 e)  Date of the transaction                  28 October 2024 (UK)

 f)  Place of the transaction                 Outside a trading venue

d)

Aggregated information

- Aggregated volume

- Aggregated price

- Aggregated total

 N/A single transaction

e)

Date of the transaction

28 October 2024 (UK)

 

f)

Place of the transaction

Outside a trading venue

 

 

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