Source - LSE Regulatory
RNS Number : 2037C
Litigation Capital Management Ltd
15 October 2020
 

15 October 2020

Litigation Capital Management Limited

("LCM" or the "Company")

 Incentive Awards

Litigation Capital Management Limited (AIM:LIT), an alternative asset manager specialising in dispute financing solutions internationally, announces that it has granted a number of incentive awards to employees of the Company in the form of shares to be issued pursuant to the LCM Loan Share Plan.

The following table details the quantum of awards granted and the recipients. Subject to the terms of the LCM Loan Share Plan, participants may nominate another person to be issued the awards.

Employee

Position

Number of shares awarded

Patrick Moloney

Chief Executive Officer

LSP

291,597

Non-PDMR Employees

Various

LSP

324,923

 

LCM Loan Share Plan ("LSP")

The Company has in place a LSP. Ordinary Shares issued to recipients under the LSP ("LSP Shares") generally rank equally with all existing shares from the date of issue.

The LSP Shares are issued to the recipient at market value and due to the vesting conditions attached to them (e.g. continuous employment conditions and share price hurdles) represent a share based payment arrangement.

The LSP awards, unless stated otherwise, will vest over a three year period in four equal tranches from the date of issue. In addition, the LSP awards are subject to malus and clawback provisions. The awards vests in full in the event of a change of control at any time.

Application will be made for the 616,520 ordinary shares to be admitted to trading on AIM. It is expected that admission will take place on 23 October 2020. Following the allotment and issue, the Company's issued share capital consists of 115,654,666 ordinary shares. The Company does not hold any shares in Treasury, as such the total number of shares in issue with voting rights is 115,654,666.

The above figure of 115,654,666 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, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules. 



 

Enquiries

 

Litigation Capital Management

c/o Alma PR 

Patrick Moloney, Chief Executive Officer






Canaccord (Nomad and Joint Broker) 

Tel: 020 7523 8000

Bobbie Hilliam






Investec Bank plc (Joint Broker)

Tel: 020 7597 5970

David Anderson






Alma PR

Tel: 020 3405 0205

Justine James

Rebecca Sanders-Hewett

LCM@almapr.co.uk

Susie Hudson

Kieran Breheny


 

 

NOTES TO EDITORS

Litigation Capital Management (LCM) is an alternate 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

 

The following notifications are intended to satisfy the Company's obligations under Article 19(3) of EU Regulation No 596/2014 (the Market Abuse Regulation).

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1.

Details of the Person discharging managerial responsibilities ("PDMR") / person closely associated with them ("PCA")

a)

Name

Patrick John Moloney

2.

Reason for the notification

a)

Position / status

Executive Director

b)

Initial notification / amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Litigation Capital Management Limited

b)

Legal Entity Identifier

213800J2B5SI8F515244

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 the financial instrument

Ordinary Shares

b)

Nature of the transaction

Interest in Ordinary Shares under a Loan Share Plan

c)

Price(s) and volume(s)

Price(s)

Volume(s)

66.55 pence

291,597

 

d)

Aggregated information

-     Aggregated volume

-     Aggregated price

-     Aggregated total

 

N/A - single transaction

e)

Date of the transaction

13 October 2020 (UK)

f)

Place of the transaction

Outside a trading venue

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DSHGCBDGSDBDGGU
Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account.