Admission to trading on AIM

The information contained in this announcement is restricted and not for release, publication or distribution in, or into, the United States, Australia, Canada, Japan, the Republic of Ireland or South Africa.  This announcement is not an admission document and is not an offer to sell, or a solicitation of an offer to buy securities in the United States or in any other jurisdiction.

Admission to trading on AIM

Juridica Investments Limited ('JIL', 'Juridica' or the 'Company'), a closed-ended investment company, focused on investing in litigation and arbitration claims, is pleased to announce the commencement of dealings in its ordinary shares of nil par value ('Ordinary Shares') on AIM following the issue of 80 million shares at £1 per Ordinary Share via a successful placing by Cenkos Securities plc and subscription.

Juridica, via its investment manager Juridica Management Limited, intends to build a diversified portfolio of investments in legal claims and to provide shareholders with an attractive level of dividends and capital growth through investing directly and indirectly in litigation and arbitration cases, claims and disputes.

Highlights:

  • Initial market capitalisation of £80 million at the Placing Price.
  • The Company intends to make direct investments in a variety of different claims, including, but not limited to, the following:
    • property damage, defaulted debt, breach of contract, insurance, antitrust, indemnification, subrogation, environmental liability, securities, expropriation and government taking, unregistered intellectual property and other business claims;
    • claims and interests involving registered intellectual property (copyright, trademark and patent); and
    • claims in foreign (non-US) litigation and in arbitration matters. 
  • The principals of the investment manager, Juridica Management Limited, are both licensed lawyers in the District of Columbia (and other US states) with 50 years' combined legal professional experience.
  • Juridica Management Limited owns 1.5 million Ordinary Shares and Juridica owns 15 per cent. of Juridica Management Limited.
  • According to the US Bureau of Economic Analysis (BEA), over $180 billion was spent in 2005 on 'legal services' in the United States.
  • Cenkos Securities is acting as Nominated Adviser and broker to the Company.

The ultimate goal of the Company is to be a leading source of value-added and direct financing for large claims in complex litigation and arbitration worldwide where such financing is considered to be lawful and permitted under local law and rules on professional ethics.

Commenting on Admission, Lord (Dan) Brennan, non-executive Chairman of Juridica, said, 'Following the successful Placing, we are delighted to be admitted to trading on AIM.  We believe that Juridica is well positioned to capitalise on the growth in the worldwide litigation market, in which  management has considerable expertise and experience in legal services. The Board would like to extend a warm welcome to all the Company's new shareholders as we seek to build long-term value and a platform for future growth. We look forward to reporting our progress to the market in the coming years.'

Commenting on Admission and the Placing, Richard Fields, of the investment manager said, 'The global legal market is well-developed.  To date there has been limited mechanism for the public to invest in this market and we look forward to structuring legally and ethically sound investments in litigation. We are delighted to bring Juridica to the market and give shareholders the opportunity to participate in revenues from litigation.'

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