Conditional Placing of up to 30,701,754 shares to raise approximately £35 million (before expenses) and proposed interim dividend of 4.6 pence per share
The board of Juridica Investments Limited is pleased to announce a conditional placing by Cenkos Securities plc and a proposed dividend to be paid to existing shareholders.
Highlights:
- $95.25 million invested or committed as at 6 March 2009.
- Significant opportunities for investment identified.
- Conditional placing by Cenkos Securities plc of up to 30,701,754 new ordinary shares with institutional placees at 114p per share to raise approximately £35 million (before expenses).
- Proceeds to be used to pursue the Company's investment programme.
- Proposed interim dividend of 4.6p per ordinary share to be paid to existing shareholders (ex-date: 1 April 2009; record date: 3 April 2009).
Lord Daniel Brennan QC, Chairman of JIL commented, “We are particularly pleased to have had such a positive response to the Placing in this economic environment. This is a sound endorsement of the Company's innovative approach to investing in litigation assets that has enabled it to establish a leading position in a large and developing market.”
Richard W. Fields, Chief Executive Officer of Juridica Capital Management Limited said, “We have had a very encouraging first year and since the fund was launched committed US$112.25 million to 10 diverse investments involving 17 claims . In addition, the fund realized early, healthy returns on two investments that have made it possible for the Board to propose a maiden dividend.”
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