Burford Capital Stock Price, News & Analysis

Burford Capital Limited announced the approval of all resolutions at its annual general meeting on May 18, 2022. A final dividend of 6.25 US cents per ordinary share was approved, scheduled for payment on June 17, 2022. Shareholders registered by May 27, 2022, will be eligible. The meeting also confirmed the appointment of Christopher Halmy as a new director. Total voting results showed overwhelming support for the resolutions, with the majority receiving over 106 million votes in favor and minimal opposition.

Burford Capital Limited will host a global retail shareholder call on June 16, 2022, at 9:00 AM EDT, where CEO Christopher Bogart will discuss financial results for the year ending December 31, 2021, and answer questions. The firm, which specializes in litigation finance and asset management, will provide further details about registration and participation soon. Burford is publicly traded under the stock symbol BUR on both the New York Stock Exchange and London Stock Exchange.

Burford Capital has announced an early redemption of its £90,000,000 6.50% guaranteed bonds due 2022, scheduled for 25 May 2022. The redemption price will be determined based on the greater of 100% of the principal or a calculated amount reflecting the Gross Redemption Yield, with a reference bond substituted due to maturity. The issuer will also pay any accrued interest up to the repayment date. This notice contains forward-looking statements regarding Burford's performance and associated risks, as per UK Market Abuse Regulation.

Burford Capital Limited announced on April 13, 2022, the purchase of 150,000 of its own ordinary shares by the Burford Capital Employee Benefit Trust (EBT). The purchases were executed in the open market over three days, with a total of 50,000 shares bought at an average price of 714.0631p per share. The shares will be used to fulfill obligations under the company’s 2016 Long Term Incentive Plan. This share buyback is significant as it showcases Burford’s commitment to managing employee benefits and may support stock price stability.

Burford Capital Limited announced the 2022 Annual General Meeting (AGM) will take place on May 18, 2022 at 9:00 AM BST in St. Peter Port, Guernsey. Registered shareholders have received the Notice of AGM along with the annual report for the year ending December 31, 2021. Details on proposed resolutions and voting procedures are included in the notice, which is accessible on Burford's website. The company specializes in legal finance and asset management, and its shares are publicly traded on both the NYSE and LSE.

Burford Capital has successfully closed a private offering of $360 million of 6.875% senior notes due 2030. The offering, completed on April 11, 2022, is facilitated by its subsidiary, Burford Capital Global Finance LLC. The proceeds will primarily be used for general corporate purposes, including debt repayment. The securities will not be registered under the US Securities Act and are exclusively offered to Qualified Institutional Buyers and non-US persons.

Burford Capital Limited announced the nomination of Christopher Arthur Halmy as an independent non-executive director, pending shareholder approval at the upcoming Annual General Meeting (AGM). Halmy, with significant financial experience including as CFO of Ally Financial, will enhance the Board's independent standing. This nomination aligns with Burford's commitment to achieving a majority of independent directors under the UK Corporate Governance Code by 2023. Upon election, the Board will meet this goal a year ahead of schedule.

On April 8, 2022, Burford Capital Limited announced share purchases by Chief Financial Officer Kenneth Brause and General Counsel Mark Klein. Brause acquired 5,280 shares, totaling 10,549 shares purchased since April 1, 2022. Klein purchased 2,696 shares. These transactions are part of Burford's employee deferred compensation plan, allowing employees to defer cash compensation into shares, thereby increasing their stake without immediate tax implications. This strategy promotes employee investment in Burford's future growth and aligns management interests with shareholders.

Burford Capital Limited announced the pricing of a private offering of $360 million in senior notes with a 6.875% interest rate due in 2030. This increase reflects a robust demand for the securities, which will be guaranteed by its wholly owned subsidiaries. The offering is expected to close on April 11, 2022. Funds from the offering will be utilized for general corporate purposes, primarily to repay existing indebtedness. The notes are structured for qualified institutional buyers and non-US persons.