Exercise of Options, Equity Issue, Director/PDMR

RNS Number : 7683Q

Litigation Capital Management Ltd

29 October 2021

 

29 October 2021

Litigation Capital Management Limited

("LCM" or the "Company")

Exercise  of Options, Issue of Equity, Director / PDMR Shareholding

Litigation Capital Management Limited (AIM:LIT), a leading international alternate asset manager of disputes financing solutions, announces:

Executive CEO

On 27 October 2021 Patrick Moloney, Chief Executive Officer of the Company exercised 900,000 options (the "Executive Options") at an exercise price of A$1.00.  The Company has agreed to issue and allot in total 900,000 new Ordinary Shares ("Ordinary Shares") in the capital of the Company to Patrick Moloney. Following Admission, Patrick Moloney will hold 10,153,258 shares and 8.55% of the issued share capital.

The LCM Loan Share Plan ("LSP") will be utilised to pay the strike price.

Non-Executive Directors

On 27 October 2021 Seistend Pty Ltd, an entity associated with Dr David King, a non-executive director of the Company, exercised 600,000 options (the "Non-Executive Options") at an exercise price of A$1.00. The Company has agreed to issue and allot in total 600,000 new Ordinary Shares in the capital of the Company.

The Executive Options and the Non-Executive Options were granted on 21 September 2016.

The Company has made an application for the 1,500,000 Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to become effective on 5 November 2021.

Concurrently with the exercise, Seistend Pty Ltd, an entity associated with Dr David King sold 250,000 Ordinary Shares to Jonathan Moulds, Chairman of the Company, at a price of GBP £1.00.

Following Admission, Seistend Pty Ltd, an entity associated with Dr David King, and Jonathan Moulds will hold 1,951,484 and 250,000 Ordinary Shares respectively, and 1.64% and 0.21% of the Company's 118,699,145 Ordinary Shares in issue, each with voting rights.

This figure of 118,699,145 Ordinary Shares may be used by shareholders in the Company 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 share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules. The Company does not hold any Ordinary Shares in Treasury.

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]
Justine James Kieran Breheny Molly Gretton	[e-mail]

NOTES TO EDITORS

Litigation Capital Management (LCM) is an alternate 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	Seistend Pty Ltd, an entity associated with Dr David King
2.	Reason for the notification
a)	Position / status	Non-Executive Director
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	Ordinary Shares
b)	Nature of the transaction	Exercise of Options
c)	Price(s) and volume(s)	Price(s) Volume(s) A$1.00 600,000
d)	Aggregated information - Aggregated volume - Aggregated price - Aggregated total	N/A - single transaction
e)	Date of the transaction	27 October 2021 (UK)
f)	Place of the transaction	Outside a trading venue

1.	Details of the Person discharging managerial responsibilities ("PDMR") / person closely associated with them ("PCA")
a)	Name	Seistend Pty Ltd, an entity associated with Dr David King
2.	Reason for the notification
a)	Position / status	Non-Executive Director
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	Ordinary Shares
b)	Nature of the transaction	Sell of Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) £1.00 250,000
d)	Aggregated information - Aggregated volume - Aggregated price - Aggregated total	N/A - single transaction
e)	Date of the transaction	27 October 2021 (UK)
f)	Place of the transaction	Outside a trading venue

1.	Details of the Person discharging managerial responsibilities ("PDMR") / person closely associated with them ("PCA")
a)	Name	Jonathan Moulds
2.	Reason for the notification
a)	Position / status	Chairman
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	Ordinary Shares
b)	Nature of the transaction	Purchase of Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) £1.00 250,000
d)	Aggregated information - Aggregated volume - Aggregated price - Aggregated total	N/A - single transaction
e)	Date of the transaction	27 October 2021 (UK)
f)	Place of the transaction	Outside a trading venue

1.	Details of the Person discharging managerial responsibilities ("PDMR") / person closely associated with them ("PCA")
a)	Name	Patrick John Moloney
2.	Reason for the notification
a)	Position / status	Executive Director
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	Ordinary Shares
b)	Nature of the transaction	Interest in Ordinary Shares under a Loan Share Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) $1.00 900,000
d)	Aggregated information - Aggregated volume - Aggregated price - Aggregated total	N/A - single transaction
e)	Date of the transaction	27 October 2021 (UK)
f)	Place of the transaction	Outside a trading venue

 

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