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AIM Rule 26

Investment objective and policy

Juridica’s aim is to provide its shareholders with an attractive level of dividends and capital growth by investing in a wide variety of business-related arbitration and litigation claims. These investments are predominantly in the US or in international arbitration cases and are referred to the Company’s Investment Manager, Juridica Capital Management Limited (Juridica Capital Management) from an established network of lawyers and law firms.

Juridica Capital Management’s evaluation and due diligence procedures seek to remove as much risk as possible from the investment process through solid analysis of business, economic and legal risk factors to identify claims that can be monetised for fair value in a timely and efficient manner. The underwriting process focuses not only on legal merits, damages and collection risk, but also on the entire business context of the claim. The company seeks to invest in claims that are likely to be resolved through settlement in a reasonable time frame.

Juridica Capital Management uses proprietary underwriting guidelines that are based on the team’s over 50 years of combined experience as plaintiff lawyers representing the world’s largest companies. Opportunities are evaluated to identify the best investments for the portfolio by Juridica Capital Management’s team of financial, legal and business experts. After its own internal review of the parties to the dispute, the strategy for the case, the attorney’s experience in resolving similar claims, the merits of the claim, and other risk factors, Juridica Capital Management uses top-rated lawyers with expertise in the specific subject matter of the dispute to provide an independent review of risk elements. Finally, investments are only completed after a written review by independent ethics and compliance counsel in the relevant jurisdiction(s) to ensure that the specific transaction complies with relevant state laws and professional ethics requirements.

Due diligence typically takes two to three months where the various legal factors of a case are subjected to financial analysis. The Company targets investments yielding in excess of 30pc returns and does not commit over US$10 million to any one situation without the Board’s approval.

Directors

Lord Dan Brennan, Chairman
J. Kermit Birchfield, Non-Executive Director
Richard Battey, Non-Executive Director

More details about the Company's Directors

Memorandum & Articles

Download the Memorandum & Articles of Association

Corporate Governance

There is no applicable regime of corporate governance to which directors of a Guernsey company must adhere over and above the general common law fiduciary duties and duties of care, diligence and skill imposed on such directors and certain limited statutory duties applicable to directors under Guernsey law.

The Board meets at least four times throughout the year and the Company’s Directors support high standards of corporate governance and comply with the provisions of the Combined Code so far as is practicable given the Company’s size and nature of business.

Since all of the Directors are non-executive and independent of the Investment Manager it does not consider it necessary to establish remuneration, nomination and investment committees. All of the Board sits on the Company’s audit committee, which is chaired by Richard Battey.

The Board as a whole is responsible for reviewing and monitoring internal financial control systems and risk management systems on which the Company is reliant; considering annual and interim accounts and audit reports; considering the appointment and remuneration of the Company’s auditors and monitoring and reviewing annually their independence, objectivity, effectiveness and qualifications.

In addition the Board will monitor the performance and remuneration of the Investment Manager and the performance and remuneration of the Board and plans for succession of the Board.

The Board will receive from the Administrator and the Investment Manager details of the Company’s investment portfolio, investment proposals and other relevant information in advance of Board meetings.

The Company has adopted a share dealing code for the Directors and the Principals which it considers appropriate for a company whose shares are admitted to trading on AIM.

Statutory information

Name:	Juridica Investments Limited
Ticker:	JIL
Company Number:	48126
Listing:	AIM
Listing Date:	21 December 2007
Country of Registration:	Guernsey*
Main Country of Operation:	US
Issued Share Capital (as at 20 January 2011):	104,701,754
Shares held in treasury:	6,000,000

* As a non-UK registered company the rights of shareholders might be different from the rights of shareholders in a UK registered company.

Investment adviser/investment manager

Juridica Capital Management Limited
Bordeaux Court, Les Echelons, St. Peter Port, Guernsey, GY1 6AW

Nominated adviser and broker to the Company

Cenkos Securities plc
6.7.8 Tokenhouse Yard, London, EC2R 7AS

Joint broker to the Company

Peel Hunt LLP
Moor House, 120 London Wall, London, EC2Y 5ET

Corporate and financial public relations and investor relations

Pelham Bell Pottinger
5th Floor, 330 High Holborn, London, WC1V 7 QD

Fund administrator

Bordeaux Services (Guernsey) Limited
Bordeaux Court, Les Echelons, St. Peter Port, Guernsey, GY1 6AW

English solicitors to the Company

Travers Smith
10 Snow Hill, London, EC1A 2AL

Guernsey advocates to the Company

Ozannes Advocates
1 Le Marchant Street, St. Peter Port, Guernsey, GY1 4HP

Registrars of the Company

Capita Registrars (Guernsey) Limited
2nd Floor, No. 1 Le Truchot, St. Peter Port, Guernsey, GY1 4AE

Securities information

Juridica Investments Limited is a limited liability, closed-ended investment company registered in Guernsey*, that has raised £115 million in gross proceeds through a placing of 80,000,000 ordinary shares at 100p per share on 21 December 2007 and 30,701,754 ordinary shares at 114p per share on 6 April 2009 and applied for trading on AIM, a market operated by the London Stock Exchange. There are no restrictions on the transfer of shares and, in so far as the Company is aware, the percentage of shares not in public hands at 20 July 2010 was 58.51%. Cenkos Securities plc is the Company’s nominated advisor and its broker.