Board Updates

RNS Number : 8591R

Litigation Capital Management Ltd

02 July 2020

 

2 July 2020

Litigation Capital Management Limited

(LCM or the Company)

Board Updates

Litigation Capital Management Limited (AIM:LIT), specialist alternate asset manager and a leading international provider of disputes financing solutions, provides the following update:

· LCM currently looking to expand the geographic market reach of its Non-Executive Directors in line with LCM's business plan

· Steve McLean steps down as non-executive director as part of this upcoming Board realignment

· Minor delays in the CEO relocating to London due to COVID-19

LCM is at an advanced stage in the search to add additional Non-Executive Directors (NED) to the Board.  As the Company strengthens its market positioning in the Northern Hemisphere, including the UK and Europe, as well as transitioning its management to the London office, it looks to new NED appointments to bring significant experience in these markets.  As part of this upcoming restructuring, Steve McLean has kindly agreed to resign his position on the board effective as at 30 June 2020.

Steve was appointed to LCM's board as a NED prior to the Company's IPO on the Australian Securities Exchange.  Steve brought with him significant in-region equity capital markets experience and has been a very valuable member of LCM's board during the building of its business, particularly in the APAC region. 

LCM expects to be in a position to make an announcement as to a new Non-Executive board member in the near future. 

Jonathan Moulds, Chairman of LCM, commented : "Steve has been a strong supporter of LCM through two IPOs, one on the Australian Securities Exchange and then on the London Stock Exchange:AIM as a Non-Executive board member.  As LCM's business expands into new global markets, it will benefit from board experience in those large economies.  We will continue to have access to Steve and his experience was a long-term supporter of the business. I thank him for his significant contribution to the growth of LCM over a number of years"

Enquiries

Litigation Capital Management	c/o Alma PR
Patrick Moloney, Chief Executive Officer
Canaccord (Nomad and Joint Broker)	Tel: [phone]
Bobbie Hilliam
Investec Bank plc (Joint Broker)	Tel: [phone]
David Anderson
Alma PR	Tel: [phone]
Rebecca Sanders-Hewett	[e-mail]
Justine James
David Ison

NOTES TO EDITORS

Litigation Capital Management (LCM) is a global provider of disputes finance which operates two business models. The first is direct investments made from LCM's permanent balance sheet capital and the second is fund and/or asset management. Under those two business models, LCM currently pursues three investment strategies: Single-case funding, Corporate portfolio funding and Acquisitions of claims. LCM generates its revenue from both its direct investments and also performance fees through asset management.

LCM has an unparalleled track record, driven by effective project selection, active project management and robust risk management.

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

 

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BOASSUSUEESSEDW