Portfolio and Pipeline Update

RNS Number : 9764D

Litigation Capital Management Ltd

01 July 2019

 

1 July 2019

Litigation Capital Management Limited

("LCM" or the "Company")

Portfolio and Pipeline Update

Litigation Capital Management Limited (AIM:LIT) (LCM), a leading international provider of litigation financing solutions, today provides an update as to its portfolio and pipeline of litigation projects as at 30 June 2019.

Current Portfolio

LCM currently has a portfolio of 29 projects under management.  23 of those litigation projects are unconditionally funded and 6 projects are conditionally signed.  The composition of the portfolio is as follows:

Commercial Claims	8
Class Actions	9
International Arbitration	5
Insolvency Claims	5
Corporate Portfolios	2

Since LCM's last announcement in relation to its portfolio on 28 May 2019, the projects which are now unconditionally funded include:

·    A class action brought in the Supreme Court of New South Wales on behalf of members of superannuation funds administered by  Suncorp Portfolio Service Limited ("Suncorp") alleging that Suncorp breached its duties to avoid conflicts, act with due care and diligence and to act in the best interest of its members.

·    A commercial claim involving proceedings in two separate jurisdictions seeking to recover funds which it is alleged were not paid to the claimant in breach of contract.

·    A commercial claim to be brought in the Federal Court of Australia on behalf of a fashion designer seeking damages or an account of profits as a result of alleged trademark infringement.

·    An international arbitration governed by the rules of the London Court of International Arbitration (LCIA) relating to a construction project in the middle east.  

Current Pipeline

The current pipeline of pre-qualified opportunities continues to demonstrate the large and diverse investment opportunities within the company. LCM currently has approximately 59 pipeline projects across a mix of litigation financing including commercial, international arbitration, insolvency, class actions and corporate portfolios. The estimated potential investment across those 59 projects exceeds A$380 million. That pipeline of investment opportunities is dynamic and changes regularly. The pipeline reflects the global nature of LCM's business with projects in Australia, the Asia Pacific and EMEA.

Patrick Moloney, CEO of LCM, said: 

"LCM is in a period of significant growth and we are pleased that this is reflected in the recent additions to our portfolio of litigation projects. Such increase demonstrates LCM's ability to complete the due diligence process with respect to opportunities that were included in its pipeline at the time of IPO. It also demonstrates that LCM's experienced team of investment managers are able to source and conduct due diligence on new opportunities to maintain a consistent and healthy pipeline of potential investment of a high value and quality. This will fortify LCM's ability for future growth. These new projects are diversified across claim size, claim type and jurisdiction, contributing to a balanced portfolio."

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CONTACTS

Litigation Capital Management

Patrick Moloney, Chief Executive Officer                             

Nick Rowles-Davies, Executive Director

Canaccord (Nomad and Broker)                                   Tel: [phone]

Bobbie Hilliam / Emma Gabriel

Hawthorn Advisors                                                         [e-mail]

Lorna Cobbett / Zinka MacHale                                     Tel: [phone]

NOTES TO EDITORS

About LCM

Litigation Capital Management ("LCM") is a leading international provider of litigation financing solutions. This includes single-case and portfolio; across class actions, commercial claims, claims arising out of insolvency and international arbitration. 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 has been listed on AIM since December 2018, trading under the ticker LIT. www.lcmfinance.com

 

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