TIDMBUR
RNS Number : 3434U
Burford Capital Limited
22 November 2023
22 November 2023
BURFORD CAPITAL LIMITED
Notification of transactions by persons discharging managerial
responsibilities
Burford Capital Limited, the leading global finance and asset
management firm focused on law, provides the following
notifications of transactions by persons discharging managerial
responsibilities (each, a "PDMR" and, collectively, "PDMRs").
Investment in Shares through Burford employee deferred
compensation plan
On November 20, 2023, David Perla, Co-Chief Operating Officer,
used his deferred cash compensation to purchase 1,330 ordinary
shares of nil par value of Burford Capital Limited (the "Shares")
through the Burford employee deferred compensation plan.
Further details about the Burford employee deferred compensation
plan can be found in Burford's Annual Report on Form 20-F for the
year ended December 31, 2022 filed with the US Securities and
Exchange Commission on May 16, 2023. In essence, Burford employees
are able to elect to defer cash compensation, without incurring
current taxes, into the Burford employee deferred compensation
plan, which in turn permits the full amount of that deferred
compensation to be allocated to the Shares (or for other investment
options). This is a tax-efficient way for employees to continue to
accumulate exposure to the Shares.
Estate planning by Mr. Molot
On November 20, 2023, a 4.918453% interest in Jonathan Molot LLC
("JM LLC"), a company which is controlled by Chief Investment
Officer Jonathan Molot and which holds 6,000,000 Shares, was
transferred from Jonathan T. Molot August 2022 Trust to Mr. Molot,
and Mr. Molot transferred a 4.918453% interest in JM LLC to
Jonathan T. Molot November 2023 Trust. Ongoing annual movement of
ownership interests in JM LLC back-and-forth between Mr. Molot and
annual trusts established by Mr. Molot, of which he and his family
members are the beneficiaries, is expected as a normal part of the
US estate planning undertaken.
The Notification of Dealing Forms for these transactions set
forth above are included at the end of this announcement.
For further information, please contact:
Burford Capital Limited
For investor and analyst inquiries:
Robert Bailhache, Head of Investor Relations, +44 (0)20 3530
EMEA and Asia - email 2023
Jim Ballan, Head of Investor Relations, Americas
- email +1 (646) 793 9176
For press inquiries:
David Helfenbein, Vice President, Public Relations
- email +1 (212) 235 6824
+44 (0)20 7260
Deutsche Numis - NOMAD and Joint Broker 1000
Giles Rolls
Charlie Farquhar
+44 (0)20 7029
Jefferies International Limited - Joint Broker 8000
Graham Davidson
James Umbers
+44 (0)20 3207
Berenberg - Joint Broker 7800
Toby Flaux
James Thompson
Yasmina Benchekroun
About Burford Capital
Burford Capital is the leading global finance and asset
management firm focused on law. Its businesses include litigation
finance and risk management , asset recovery and a wide range of
legal finance and advisory activities. Burford is publicly traded
on the New York Stock Exchange (NYSE: BUR) and the London Stock
Exchange (LSE: BUR), and it works with companies and law firms
around the world from its offices in New York, London, Chicago,
Washington, DC, Singapore, Dubai, Sydney and Hong Kong.
For more information, please visit www.burfordcapital.com .
This announcement does not constitute an offer to sell or the
solicitation of an offer to buy any ordinary shares or other
securities of Burford.
This announcement does not constitute an offer of any Burford
private fund. Burford Capital Investment Management LLC, which acts
as the fund manager of all Burford private funds, is registered as
an investment adviser with the US Securities and Exchange
Commission. The information provided in this announcement is for
informational purposes only. Past performance is not indicative of
future results. The information contained in this announcement is
not, and should not be construed as, an offer to sell or the
solicitation of an offer to buy any securities (including, without
limitation, interests or shares in any of Burford private funds).
Any such offer or solicitation may be made only by means of a final
confidential private placement memorandum and other offering
documents.
Forward-looking statements
This announcement contains "forward-looking statements" within
the meaning of Section 21E of the US Securities Exchange Act of
1934, as amended, regarding assumptions, expectations, projections,
intentions and beliefs about future events. These statements are
intended as "forward-looking statements". In some cases,
predictive, future-tense or forward-looking words such as "aim",
"anticipate", "believe", "continue", "could", "estimate", "expect",
"forecast", "guidance", "intend", "may", "plan", "potential",
"predict", "projected", "should" or "will" or the negative of such
terms or other comparable terminology are intended to identify
forward-looking statements, but are not the exclusive means of
identifying such statements. In addition, Burford and its
representatives may from time to time make other oral or written
statements that are forward-looking, including in its periodic
reports that Burford files with, or furnishes to, the US Securities
and Exchange Commission , other information made available to
Burford's security holders and other written materials. By their
nature, forward-looking statements involve known and unknown risks,
uncertainties and other factors because they relate to events and
depend on circumstances that may or may not occur in the future.
Burford cautions that forward-looking statements are not guarantees
of future performance and are based on numerous assumptions ,
expectations, projections, intentions and beliefs and that
Burford's actual results of operations, including its financial
position and liquidity, and the development of the industry in
which it operates, may differ materially from (and be more negative
than) those made in, or suggested by, the forward-looking
statements contained in this announcement. Significant factors that
may cause actual results to differ from those Burford expects
include, among others, those discussed under "Risk Factors" in
Burford's annual report on Form 20-F for the year ended December
31, 2022 filed with the US Securities and Exchange Commission on
May 16, 2023 and other reports or documents that Burford files
with, or furnishes to, the US Securities and Exchange Commission
from time to time . In addition, even if Burford's results of
operations, including its financial position and liquidity, and the
development of the industry in which it operates are consistent
with the forward-looking statements contained in this announcement,
those results of operations or developments may not be indicative
of results of operations or developments in subsequent periods.
Except as required by law, Burford undertakes no obligation to
update or revise the forward-looking statements contained in this
announcement, whether as a result of new information, future events
or otherwise.
1 Details of the person discharging managerial responsibilities/person
closely associated
(a) Name David Perla
--------------------------------------------- --------------------------------------------
2 Reason for the notification
(a) Position/status A PDMR occupying the position of Co-Chief
Operating Officer
(b) Initial notification Initial
/Amendment
--------------------------------------------- --------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
--------------------------------------------- --------------------------------------------
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 Ordinary Shares
the financial instrument,
type of instrument
Identification code GG00BMGYLN96
(b) Nature of the transaction Allocation of fully vested notional
Ordinary Shares equivalent to a deferred
amount of cash compensation under
Burford's deferred compensation plan
(c) Price(s)and volume(s) Price(s) Volume(s)
--------------------- ---------------------
$ 14.23 1,330
(d) Aggregated information N/A
* Aggregated volume
* Price
(e) Date of the transaction 20 November 2023
(f) Place of the transaction Outside a trading venue
------------------------------------------------- --------------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
(a) Name David Perla
--------------------------------------------- ---------------------------------------------
2 Reason for the notification
(a) Position/status A PDMR occupying the position of Co-Chief
Operating Officer
(b) Initial notification Initial
/Amendment
--------------------------------------------- ---------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
--------------------------------------------- ---------------------------------------------
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 Notional Ordinary Shares
the financial instrument,
type of instrument
Identification code GG00BMGYLN96
(b) Nature of the transaction Allocation of unvested notional Ordinary
Shares pursuant to the provisions
of Burford's deferred compensation
plan due to vest in 2025
(c) Price(s)and volume(s) Price(s) Volume(s)
---------------------- ---------------------
$ Nil 443
(d) Aggregated information N/A
* Aggregated volume
* Price
(e) Date of the transaction 20 November 2023
(f) Place of the transaction Outside a trading venue
--------------------------------------------- -------------------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
(a) Name Jonathan T. Molot
-------------------------------------------- -----------------------------------------
2 Reason for the notification
(a) Position/status A PDMR occupying the position of Chief
Investment Officer
(b) Initial notification Initial
/Amendment
-------------------------------------------- -----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
-------------------------------------------- -----------------------------------------
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 4.918453 % interest in Jonathan Molot
the financial instrument, LLC, which holds 6,000,000 shares
type of instrument in Burford Capital Limited
Identification code N/A
(b) Nature of the transaction Acquisition of membership interests
from Jonathan T. Molot August 2022
Trust
(c) Price(s)and volume(s) Price(s) Volume(s)
------------------ ---------------------
$14.135 295,107.18
(d) Aggregated information N/A
* Aggregated volume
* Price
(e) Date of the transaction 20 November 2023
(f) Place of the transaction N/A
------------------------------------------------ -----------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
(a) Name Jonathan T. Molot August 2022 Trust
-------------------------------------------- --------------------------------------------
2 Reason for the notification
(a) Position/status A person closely associated with Jonathan
Molot, a PDMR occupying the position
of Chief Investment Officer
(b) Initial notification Initial
/Amendment
-------------------------------------------- --------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
-------------------------------------------- --------------------------------------------
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 4.918453 % interest in Jonathan Molot
the financial instrument, LLC, which holds 6,000,000 shares
type of instrument in Burford Capital Limited
Identification code N/A
(b) Nature of the transaction Disposal of membership interests to
Jonathan T. Molot
(c) Price(s)and volume(s) Price(s) Volume(s)
-------------------- ----------------------
$14.135 295,107.18
(d) Aggregated information N/A
* Aggregated volume
* Price
(e) Date of the transaction 20 November 2023
(f) Place of the transaction N/A
------------------------------------------------ --------------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
(a) Name Jonathan T. Molot
-------------------------------------------- -----------------------------------------
2 Reason for the notification
(a) Position/status A PDMR occupying the position of Chief
Investment Officer
(b) Initial notification Initial
/Amendment
-------------------------------------------- -----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
-------------------------------------------- -----------------------------------------
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 4.918453 % interest in Jonathan Molot
the financial instrument, LLC, which holds 6,000,000 shares
type of instrument in Burford Capital Limited
Identification code N/A
(b) Nature of the transaction Disposal of membership interests to
Jonathan T. Molot November 2023 Trust
(c) Price(s)and volume(s) Price(s) Volume(s)
------------------ ---------------------
$14.135 295,107.18
(d) Aggregated information N/A
* Aggregated volume
* Price
(e) Date of the transaction 20 November 2023
(f) Place of the transaction N/A
------------------------------------------------ -----------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
(a) Name Jonathan T. Molot November 2023 Trust
-------------------------------------------- --------------------------------------------
2 Reason for the notification
(a) Position/status A person closely associated with Jonathan
Molot, a PDMR occupying the position
of Chief Investment Officer
(b) Initial notification Initial
/Amendment
-------------------------------------------- --------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
-------------------------------------------- --------------------------------------------
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 4.918453 % interest in Jonathan Molot
the financial instrument, LLC, which holds 6,000,000 shares
type of instrument in Burford Capital Limited
Identification code N/A
(b) Nature of the transaction Acquisition of membership interests
from Jonathan T. Molot
(c) Price(s)and volume(s) Price(s) Volume(s)
-------------------- ----------------------
$14.135 295,107.18
(d) Aggregated information N/A
* Aggregated volume
* Price
(e) Date of the transaction 20 November 2023
(f) Place of the transaction N/A
------------------------------------------------ --------------------------------------------
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