Welcome to our dedicated page for Burford Capital news (Ticker: BUR), a resource for investors and traders seeking the latest updates and insights on Burford Capital stock.
Burford Capital Limited (NYSE: BUR) generates a steady flow of news as a global finance and asset management firm focused on law. Company announcements repeatedly describe Burford’s businesses as including litigation finance and risk management, asset recovery and a wide range of legal finance and advisory activities, and its news coverage reflects these themes.
On this page, readers can follow Burford Capital news related to its legal finance portfolio, financing activities, dividends and corporate governance. Recent press releases, many of which are furnished on Form 8-K, have covered topics such as unaudited financial results for quarterly and year-to-date periods, interim dividend declarations on ordinary shares and detailed updates on significant legal matters like the YPF case involving the Republic of Argentina.
Burford’s news flow also includes capital markets activity, such as private offerings of senior notes by its indirect, wholly owned subsidiary Burford Capital Global Finance LLC, with guarantees provided on a senior unsecured basis by Burford Capital and certain subsidiaries. These releases explain the intended use of proceeds, including repayment or redemption of existing bonds and general corporate purposes.
In addition, Burford publishes thought leadership through its Burford Quarterly journal, which explores legal finance trends across sectors and jurisdictions. News items describe how legal finance is used to manage risk, unlock capital and support complex business disputes, highlighting Burford’s perspective on developments at the intersection of law and finance.
Investors and observers can use this news page to review Burford’s official communications, including earnings announcements, dividend decisions, updates on key legal matters and commentary on the evolving legal finance market, all drawn directly from the company’s own press releases and regulatory disclosures.
Burford Capital reported its unaudited financial results for Q2 and H1 2024.
Key Highlights:
- Total revenues rose by 217% YoY to $137 million in Q2 2024.
- Capital provision income increased by 237% YoY to $119 million in Q2.
- Net realized gains in H1 grew by 36% to $128 million.
- Total operating expenses in Q2 decreased by 14% to $37 million.
- Net income for Q2 was $53.7 million, a significant improvement from a loss of $21.5 million in Q2 2023.
- Book value per share remained stable at $10.50.
- Decline in YTD revenue by 52% due to prior year's gains from a case win.
The company highlighted improved liquidity, with cash and cash equivalents increasing by 78% to $350 million. An interim dividend of 6.25¢ per share was declared, payable on December 5, 2024.
Burford Capital , a leading global finance and asset management firm focused on law, has announced its transition to US domestic issuer status effective January 1, 2025. This change comes as US ownership of Burford's issued and outstanding ordinary shares exceeds 50% as of June 30, 2024. As a result, Burford will no longer qualify as a 'foreign private issuer' under the US Securities Act of 1934.
The transition requires Burford to file annual reports on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K with the SEC. Additionally, the company will need to comply with US proxy requirements and Regulation FD. This move is the culmination of over five years of planning, aimed at maximizing Burford's investability in the US public market. The company's ordinary shares will continue to be fully dual-listed on both the New York Stock Exchange and the London Stock Exchange.
Burford Capital (BUR), a leading global finance and asset management firm focused on law, has announced the release date for its 2Q24 financial results. The company will disclose its financial results for the three and six months ended June 30, 2024, on Thursday, August 8, 2024, at 7:00am EDT / 12:00pm BST.
A conference call for investors and analysts will be held on the same day at 10:00am EDT / 3:00pm BST. Participants are encouraged to dial in by 9:40am EDT / 2:40pm BST to avoid delays. A live webcast of the call will be available, and pre-registration is recommended. An accompanying 2Q24 results presentation will be accessible on Burford's website prior to the call.
Burford Capital has announced an extraordinary general meeting (EGM) scheduled for August 20, 2024, at 1:30 p.m. BST in Guernsey. The EGM aims to approve KPMG LLP's appointment as the company's independent registered public accounting firm and authorize the board to agree on their remuneration. Additionally, Burford proposes amendments to its articles of incorporation to align with US market norms, anticipating a change to full US issuer status this year.
The Notice of EGM, detailing proposed resolutions and voting procedures, is available on Burford's website. Due to the company's dual listing on the NYSE and LSE, final voting results are expected to be announced on August 23, 2024. The proposed amendments to the articles of incorporation are summarized in the Notice of EGM, with a full redline comparison available on the company's website.
Burford Capital (BUR) has announced its upcoming Extraordinary General Meeting (EGM) scheduled for August 20, 2024, at 1:30 p.m. BST in Guernsey. The EGM agenda includes approving KPMG LLP as the company's independent registered public accounting firm and proposing amendments to Burford's articles of incorporation to align with US market norms. This move anticipates Burford's transition to full US issuer status later this year.
The Notice of EGM, detailing proposed resolutions and voting procedures, is available on Burford's website. Due to the company's dual listing on NYSE and LSE, final voting results are expected to be announced on August 23, 2024. The proposed amendments to the articles of incorporation are summarized in the Notice of EGM, with a full redline comparison available on the company's website.
On July 1, 2024, Burford Capital's audit committee approved the appointment of KPMG LLP as the new independent auditor, with ratification from the Board of Directors. KPMG will audit Burford's financial statements for the fiscal year ending December 31, 2024, replacing Ernst & Young LLP, which has served since 2010. This change aligns with shareholder feedback and best practices in the UK market, despite no mandatory rotation requirement. The transition to KPMG awaits shareholder ratification at an upcoming extraordinary general meeting. Ernst & Young's reports for the past two financial years contained no adverse opinions or disagreements. However, material weaknesses in internal controls were identified and are being addressed.
On June 28, 2024, Burford Capital announced the issuance of 24,909 new ordinary shares under its 2016 Long Term Incentive Plan (LTIP) to satisfy vested restricted stock units. These shares, issued on June 26, 2024, will be listed on both AIM market of the London Stock Exchange and the New York Stock Exchange, with trading expected to begin on July 4, 2024. Following this issuance, Burford's total issued ordinary share capital will be 220,082,694, with 669,947 shares held in treasury, leading to 219,412,747 voting shares. Additionally, Burford's recent annual compensation review resulted in the adjustment and reduction of previously awarded, unvested shares by 32,043 for both its CEO, Christopher Bogart, and CIO, Jonathan Molot.
Burford Capital, a leading global finance and asset management firm, announced on June 21, 2024, that effective June 18, 2024, key executives including CEO Christopher Bogart, CIO Jonathan Molot, and Co-COOs Aviva Will and David Perla received an aggregate of 202,018 shares of Burford's ordinary stock. These distributions followed the executives' original investments in notional shares as part of the Deferred Compensation Plan (DCP) made during March and April 2022. Additionally, Burford issued a total of 208,691 new shares to be admitted to trading on the AIM market of the London Stock Exchange and the NYSE, effective June 28, 2024. The new issuance brings Burford's total ordinary share capital to 220,057,785, with 219,387,838 shares having voting rights.
Burford Capital's latest Burford Quarterly highlights key economic and business trends impacting commercial disputes across various industries. Notably, the US healthcare sector sees increased consolidation and rising costs, leading to major disputes. The journal features expert insights on construction disputes, with a focus on megaprojects and AI challenges. Additionally, the impact of the Unified Patent Court in Europe is discussed, showcasing its influence on IP litigation. Judges at a recent conference argue against mandatory financial disclosure for legal finance, emphasizing its potential inefficiency. Co-COO David Perla underscores the comprehensive analysis of these industry-specific trends.
Burford Capital, a leading global finance and asset management firm focused on law, announced the completion of open market purchases of 19,285 shares to satisfy non-employee directors' awards. These shares were acquired on June 4, 2024, at an average price of 1129.2549p per share. Additionally, shares were granted to several current and former non-employee directors under the 2021 Non-Employee Directors' Share Plan as compensation for their services. Notable grants include Rukia Baruti (2,467 shares), Pamela Corrie (2,352 shares), Robert Gillespie (2,467 shares), Christopher Halmy (4,246 shares), John Sievwright (5,803 shares), and Hugh Steven Wilson (1,950 shares).