Issuance Of New Ordinary Shares In Connection With LTIP

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Burford Capital, a global finance and asset management firm focused on law, has issued 528 new ordinary shares on December 23, 2024, in connection with its 2016 Long Term Incentive Plan (LTIP). These shares were issued to satisfy vested restricted stock units from December 20, 2024 awards. The shares will be admitted to trading on London Stock Exchange's AIM market around January 3, 2025, and will also be listed on the NYSE.

Following this issuance, Burford's total issued ordinary share capital stands at 220,091,851 shares, with 669,947 shares held in treasury. The total number of voting rights, excluding treasury shares, will be 219,421,904.

Insights

Corporate Finance Analyst

The issuance of 528 new ordinary shares for LTIP vesting represents a minimal dilutive impact of less than 0.0002% on Burford Capital's total share count. This routine administrative action to fulfill employee compensation obligations through the 2016 Long Term Incentive Plan has negligible impact on the company's capital structure or shareholder value. The small number of shares involved relative to the total outstanding shares of over 220 million makes this a standard corporate governance matter rather than a material financial event.

The disclosure is primarily relevant for regulatory compliance purposes, particularly regarding UK Financial Conduct Authority transparency requirements. While the information about treasury shares and voting rights is important for institutional investors' reporting obligations, the economic impact of this share issuance is immaterial to BUR's market capitalization of $2.8 billion. This type of announcement is common among publicly traded companies and reflects normal operation of employee incentive programs rather than any strategic or financial development.

NEW YORK, Dec. 27, 2024 /PRNewswire/ -- Burford Capital Limited, the leading global finance and asset management firm focused on law, today announces that, in connection with the Burford Capital 2016 Long Term Incentive Plan (the "LTIP"), on December 23, 2024, it has issued 528 new ordinary shares, no par value per share ("Shares"), to satisfy the vesting of restricted stock units pursuant to the realization of awards under the LTIP on December 20, 2024.

Application will be made for these 528 new Shares to be admitted to trading on the AIM market of the London Stock Exchange plc. The expected date of admission is January 3, 2025. These 528 new Shares will also be listed on the New York Stock Exchange.

Following the issuance of these new Shares, the Company's issued ordinary share capital is 220,091,851, of which 669,947 Shares are held in treasury and do not have any voting rights. Therefore, the total number of voting rights in the Company, excluding treasury shares, will be 219,421,904 after giving effect to this issuance of new Shares. This figure for the total number of voting rights may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in the Company under the Disclosure Guidance and Transparency Rules of the UK Financial Conduct Authority.

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 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, 2023 filed with the US Securities and Exchange Commission on March 28, 2024 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.

View original content:https://www.prnewswire.com/news-releases/issuance-of-new-ordinary-shares-in-connection-with-ltip-302339033.html

SOURCE Burford Capital

FAQ

How many new shares did Burford Capital (BUR) issue on December 23, 2024?

Burford Capital issued 528 new ordinary shares on December 23, 2024, in connection with its 2016 Long Term Incentive Plan.

When will BUR's new shares begin trading on the AIM market?

The 528 new shares are expected to be admitted to trading on the AIM market of the London Stock Exchange on January 3, 2025.

What is Burford Capital's (BUR) total number of voting rights after the December 2024 share issuance?

After the new share issuance, the total number of voting rights in Burford Capital, excluding treasury shares, will be 219,421,904.

How many shares does Burford Capital (BUR) hold in treasury as of December 2024?

Burford Capital holds 669,947 shares in treasury, which do not have any voting rights.