Exercise of Awards

Litigation Capital Management Ltd

31 October 2023

 

31 October 2023

Litigation Capital Management Limited

("LCM" or the "Company")

 Exercise of Awards

Litigation Capital Management Limited (AIM:LIT), a leading international alternative asset manager of disputes financing solutions, announces that Susanna Taylor, a Person Discharging Managerial Responsibilities (PDMR) exercised options over 45,842 ordinary shares which are being retained and held. The award which was granted under the Company Deferred Bonus Share Plan ('DBSP') on 4 October 2022 has been satisfied by the Employee Benefit Trust.

The following table details the quantum of options exercised which have been satisfied through the EBT with respect to awards made on 4 October 2022 under the DBSP:

Employee	Position	Incentive Scheme	Number of Share/Options Awarded
Susanna Taylor	Head of APAC / PDMR	DBSP	45,842
Non-PDMR Employees	Various / Non-PDMR	DBSP	121,422

Employee Benefit Trust ('EBT')

The Company has an EBT. The EBT is a discretionary trust for the benefit of the Company's employees, including the Directors of the Company. Following the exercise of the options detailed above, the EBT of the Company currently holds 4,750,020 Ordinary Shares, representing 3.99 per cent. of the of the Company's total voting rights.

For reference, the figure of 119,121,232 should be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules. 

Enquiries

Litigation Capital Management	c/o Tavistock PR
Patrick Moloney, Chief Executive Officer
Mary Gangemi, Chief Financial Officer
Canaccord (Nomad and Joint Broker)	Tel: [phone]
Bobbie Hilliam
Alex Orr
Investec Bank plc (Joint Broker)	Tel: [phone]
David Anderson
Tavistock PR	Tel: [phone]
Tim Pearson	[e-mail]
Katie Hopkins

NOTES TO EDITORS

Litigation Capital Management (LCM) is an alternative asset manager specialising in disputes financing solutions internationally, which operates two business models. The first is direct investments made from LCM's permanent balance sheet capital and the second is third party fund management. Under those two business models, LCM currently pursues three investment strategies: Single-case funding, 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 disciplined project selection and robust risk management.

Currently 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

This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014 as amended by regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the publication of this announcement, this information is now considered to be in the public domain Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

1.	Details of the Person discharging managerial responsibilities ("PDMR") / person closely associated with them ("PCA")
a)	Name	Susanna Taylor
2.	Reason for the notification
a)	Position / status	Head of APAC
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Litigation Capital Management Limited
b)	Legal Entity Identifier	213800J2B5SI8F515244
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument	Option over ordinary shares
b)	Nature of the transaction	Exercise of options
c)	Price(s) and volume(s)	Price(s) Volume(s) Award n/a 45,842 DBSP
d)	Aggregated information - Aggregated volume - Aggregated price - Aggregated total	45,842 options over ordinary shares
e)	Date of the transaction	31 October 2023 (UK)
f)	Place of the transaction	Outside a trading venue

 

END