Successful resolution of balance sheet investment

Litigation Capital Management Ltd

22 June 2023

 

22 June 2023

Litigation Capital Management Limited

("LCM" or the "Company")

Successful resolution of direct balance sheet investment

Litigation Capital Management Limited (AIM:LIT), an alternative asset manager specialising in dispute financing solutions internationally, announces the settlement of an investment forming part of its portfolio of direct investments.

Successful award in investment in arbitration

As previously announced on 23 February 2023, the Company announced a positive development, with respect to a partial award in one of its 100% direct balance sheet matters. A settlement has been reached between the parties following an Award on liability and costs being granted in favour of the funded party. The matter was heard by a Tribunal appointed under the International Chamber of Commerce (ICC) Arbitration Rules.  LCM's investment performance is detailed below:

*AUD$m	Investment performance
Invested capital	2.9
Investment return (Gross profit)	8.6
Total revenue	11.5
ROIC on investment	293%

*The investment returns are subject to change based on the prevailing FX rate and timing of distribution

Patrick Moloney, CEO of LCM, commented: "We are pleased with the positive resolution of this investment and more generally the momentum in the progress of our portfolio in the second half of our financial year. This is of particular significance, given our first half results which were impacted by the timing, and consequently recognition of resolutions. We believe these recent resolutions demonstrate our expertise and skill in selecting and underwriting investments. Additionally, they reinforce the value and scale our funds management business adds to the Group, creating significant value for our shareholders and investors."

Enquiries

Litigation Capital Management	c/o Tavistock PR
Patrick Moloney, Chief Executive Officer
Canaccord (Nomad and Joint Broker)	Tel: [phone]
Bobbie Hilliam
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

 

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