Juridica, a leading provider of capital to the law market, today announces its audited financial results for the year ended 31 December 2009.

Financial highlights

• Total income of $16.5 million
• Gross cash receipts of $7.8 million from two litigation investments that reached final determination and two additional cases that have partially settled
• NAV growth to $1.9513 per ordinary share as at 31 December 2009
• $122.8 million deployed in 22 claim assets across 15 investments

Commenting on the results, Juridica's Chairman, Lord Daniel Brennan QC, said:

“Juridica has had another successful year despite the difficult economic environment and has established itself as a market leader. We have continued to build a balanced portfolio of high quality corporate claims and litigation investments which include plaintiffs from 18 Fortune 500 or multinational companies, and two major US universities, represented by over a dozen leading US law firms. The Board expects to see the conclusion of several cases in the portfolio over the next 12 to 18 months and will continue to work closely with the Manager to meet our objectives for dividend income, NAV growth and commensurate share price performance.”

Operational highlights

• Established as the largest listed provider of capital to the legal markets
• Continued market leading position within the US and UK corporate claims financing market
• Current portfolio starting to mature towards results over the coming 12 to 18 months. The average age of the Company’s investments is 1.18 years whilst the average age of cases in the portfolio is 2.45 years
• Average investment exposure of $5.58 million per case
• Advisory network of legal, financial and ethical professionals continues to grow and strengthen

Richard Fields, Chief Executive Officer, Juridica Capital Management Limited, commented:

“Whilst recessionary pressures slowed the pace of settlements and cash returns to the Company the additional time allowed important positive developments to take place in several portfolio cases, increasing the potential size of returns to shareholders.”

“Current trading continues to progress well and we enjoy a healthy pipeline of first class opportunities. During the last two years we have reviewed over 400 investment opportunities in addition to thousands of patents. We continue to be in the enviable position of being able to select the very best investments for Juridica’s portfolio and look to the future with great confidence.”

View the full annual report and accounts in PDF format