Incentive Awards

RNS Number : 7642Q

Litigation Capital Management Ltd

29 October 2021

 

29 October 2021

Litigation Capital Management Limited

("LCM" or the "Company")

 Incentive Awards

Litigation Capital Management Limited (AIM:LIT), a leading international alternate asset manager of disputes financing solutions, announces that on 27 October 2021 it granted a number of incentive awards to employees and directors of the Company either in the form of shares to be issued pursuant to the LCM Loan Share Plan ("LSP") or via the Company's share option plan.

The following table details the quantum of Awards granted and the recipients:

Employee	Position	Incentive Scheme	Number of Share/Options Awarded
Patrick Moloney	Chief Executive Officer	LSP	279,232
Mary Gangemi	Chief Financial Officer	Option awards	93,585
Mary Gangemi	Chief Financial Officer	CSOP	26,315
Non-PDMR Employees	Various	LSP	333,406
Non-PDMR Employees	Various	Option awards	223,491
Non-PDMR Employees	Various	CSOP	56,460

LCM Loan Share Plan ("LSP")

The Company has in place a LSP. Ordinary Shares issued to recipients under the LSP ("LSP Shares") generally rank equally with all existing shares from the date of issue.

The LSP Shares are issued to the recipient at market value and due to the vesting conditions attached to them (e.g. continuous employment conditions) represent a share based payment arrangement.

The LSP awards, unless stated otherwise, will vest over a three-year period in four equal tranches from the date of issue.

In addition, the LSP awards are subject to malus and clawback provisions. The awards vest in full in the event of a change of control at any time.

Option awards

The Company has in place a Company share option plan ("Option awards"). Options over Ordinary Shares are issued to recipients under the Option awards. The Option awards are issued to the recipient at market value and due to the vesting conditions attached to them (e.g. continuous employment conditions) represent a share based payment arrangement.

The Option awards, unless stated otherwise, will vest over a three-year period in four equal tranches from the date of issue.

 In addition, the Option awards are subject to malus and clawback provisions. The awards vest in full in the event of a change of control at any time.

Company share ownership plan ("CSOP")

The Company has in place a CSOP. Options over Ordinary Shares ("Options") are issued to recipients under the CSOP ("CSOP Options") at an exercise price being the share price on the day prior to close, subject to continued employment over the three year period.

The CSOP awards, unless stated otherwise, will vest at the end of a three-year period from the date of issue.

Admission of Shares

Application will be made for 612,638 ordinary shares to be admitted to trading on AIM. It is expected that admission will take place on 5 November 2021. Following the allotment and issue, the Company's issued share capital consists of 117,199,145ordinary shares. The Company does not hold any shares in Treasury, as such the total number of shares in issue with voting rights is 117,199,145.

The above figure 117,199,145may 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 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	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) £1.06 279,232
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	Mary Gangemi
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	Option over ordinary shares
b)	Nature of the transaction	Grant of option
c)	Price(s) and volume(s)	Price(s) Volume(s) Award £1.14 26,315 C SOP £1.06 93,585 O ption award
d)	Aggregated information - Aggregated volume - Aggregated price - Aggregated total	119,000 options over ordinary shares
e)	Date of the transaction	27 October 2021 (UK)
f)	Place of the transaction	Outside a trading venue

 

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