TIDMBUR
RNS Number : 2762M
Burford Capital Limited
20 September 2021
20 September 2021
BURFORD CAPITAL LIMITED
Notification of transactions by person discharging managerial
responsibility
Burford Capital Limited, the leading global finance and asset
management firm focused on law, has been notified of the usual
annual transactions associated with certain estate planning by
Jonathan T. Molot, Burford's Chief Investment Officer.
On September 16, 2021, a 15.996556% interest in Jonathan Molot
LLC ("JM LLC"), a company which is controlled by Mr Molot and which
holds Burford Capital Limited stock, was transferred from the
Jonathan T. Molot 2020 Trust No. 2 to Mr Molot. In addition a
2.704636% interest in JM LLC was transferred from the Jonathan T.
Molot 2019 Trust to Mr Molot. 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 are expected as a normal part of the US
estate planning undertaken. Certain further such movements occurred
on September 16, 2021, with Mr Molot transferring a 0.371586%
interest in JM LLC to the Jonathan T. Molot 2020 Trust, a 0.043679%
interest in JM LLC to the Jonathan T. Molot May 2021 Trust, a
0.748128% interest in JM LLC to the Jonathan T. Molot Remainder
2017 Trust and a 0.057498% interest in JM LLC to the Jonathan T.
Molot 2021 Trust. These transfers do not affect the overall
interest in shares in Burford held by Mr Molot and the associated
trusts.
The Notification of Dealing Forms for each of the transfers
mentioned above are included at the end of this announcement.
For further information, please contact:
Burford Capital Limited
Robert Bailhache, Head of Investor Relations, +44 (0)20 3530
EMEA and Asia - email 2023
Jim Ballan, Head of Investor Relations, Americas +1 (646) 793
- email 9176
Numis Securities Limited - NOMAD and Joint +44 (0)20 7260
Broker 1000
Kevin Cruickshank (NOMAD)
Charlie Farquhar / Jonathan Abbott (Joint Broker)
+44 (0)20 7029
Jefferies International Limited - Joint Broker 8000
Graham Davidson
Tony White
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 principal offices in New York, London,
Chicago, Washington, Singapore and Sydney.
For more information, please visit www.burfordcapital.com .
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy any ordinary shares or other
securities of Burford.
This release does not constitute an offer of any Burford fund.
Burford Capital Investment Management LLC ("BCIM"), which acts as
the fund manager of all Burford funds, is registered as an
investment adviser with the U.S. Securities and Exchange
Commission. The information provided herein is for informational
purposes only. Past performance is not indicative of future
results. The information contained herein 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 the 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 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, we and our
representatives may from time to time make other oral or written
statements which are forward-looking statements, including in our
periodic reports that we file with the US Securities and Exchange
Commission, other information sent to our 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. We caution you that
forward-looking statements are not guarantees of future performance
and are based on numerous assumptions and that our actual results
of operations, including our financial condition and liquidity and
the development of the industry in which we operate, 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 we expect include those discussed under "Risk
Factors" in our Annual Report on Form 20-F filed with the US
Securities and Exchange Commission on March 24, 2021. In addition,
even if our results of operations, including our financial
condition and liquidity and the development of the industry in
which we operate, are consistent with the forward-looking
statements contained in this announcement, those results or
developments may not be indicative of results or developments in
subsequent periods.
Except as required by law, we undertake no obligation to update
or revise the forward-looking statements contained in this
announcement, whether as a result of new information, future
events, a change in our views or expectations or otherwise.
Details of the person discharging managerial responsibilities/person
closely associated
(a) Name Jonathan T. Molot 2020 Trust No.
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
-------------------------------------
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
-------------------------------------
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 15.996556% interest in Jonathan
the financial instrument, Molot LLC, which holds 6,000,000
type of instrument shares 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)
--------------- --------------------
$10,284,312.82 15.996556% interest
(d) Aggregated information N/A
* Aggregated volume
* Price
(e) Date of the transaction 16 September 2021
(f) Place of the transaction N/A
-------------------------------------
Details of the person discharging managerial responsibilities/person
closely associated
(a) Name Jonathan T. Molot
--------------------------------------
Reason for the notification
(a) Position/status A PDMR occupying the position of
Chief Investment Officer
(b) Initial notification Initial
/Amendment
--------------------------------------
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
--------------------------------------
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 15.996556% interest in Jonathan
the financial instrument, Molot LLC, which holds 6,000,000
type of instrument shares in Burford Capital Limited
Identification code N/A
(b) Nature of the transaction Acquisition of membership interests
from Jonathan T. Molot 2020 Trust
No. 2
(c) Price(s)and volume(s) Price(s) Volume(s)
---------------- --------------------
$10,284,312.82 15.996556% interest
(d) Aggregated information N/A
* Aggregated volume
* Price
(e) Date of the transaction 16 September 2021
(f) Place of the transaction N/A
--------------------------------------
Details of the person discharging managerial responsibilities/person
closely associated
(a) Name Jonathan T. Molot
-------------------------------------
Reason for the notification
(a) Position/status A PDMR occupying the position of
Chief Investment Officer
(b) Initial notification Initial
/Amendment
-------------------------------------
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
-------------------------------------
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 2.704636% interest in Jonathan
the financial instrument, Molot LLC, which holds 6,000,000
type of instrument shares in Burford Capital Limited
Identification code N/A
(b) Nature of the transaction Disposal of membership interests
to Jonathan T. Molot 2019 Trust
(c) Price(s)and volume(s) Price(s) Volume(s)
---------------- -------------------
$1,738,832.13 2.704636% interest
(d) Aggregated information N/A
* Aggregated volume
* Price
(e) Date of the transaction 16 September 2021
(f) Place of the transaction N/A
-------------------------------------
Details of the person discharging managerial responsibilities/person
closely associated
(a) Name Jonathan T. Molot 2019 Trust
--------------------------------------
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
--------------------------------------
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
--------------------------------------
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 2.704636% interest in Jonathan
the financial instrument, Molot LLC, which holds 6,000,000
type of instrument shares 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)
---------------- --------------------
$1,738,832.13 2.704636% interest
(d) Aggregated information N/A
* Aggregated volume
* Price
(e) Date of the transaction 16 September 2021
(f) Place of the transaction N/A
--------------------------------------
Details of the person discharging managerial responsibilities/person
closely associated
(a) Name Jonathan T. Molot
-------------------------------------
Reason for the notification
(a) Position/status A PDMR occupying the position of
Chief Investment Officer
(b) Initial notification Initial
/Amendment
-------------------------------------
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
-------------------------------------
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 0.371586% interest in Jonathan
the financial instrument, Molot LLC, which holds 6,000,000
type of instrument shares in Burford Capital Limited
Identification code N/A
(b) Nature of the transaction Disposal of membership interests
to Jonathan T. Molot 2020 Trust
(c) Price(s)and volume(s) Price(s) Volume(s)
-------------- ---------------------
$238,895.00 0.371586% interest
(d) Aggregated information N/A
* Aggregated volume
* Price
(e) Date of the transaction 16 September 2021
(f) Place of the transaction N/A
-------------------------------------
Details of the person discharging managerial responsibilities/person
closely associated
(a) Name Jonathan T. Molot 2020 Trust
--------------------------------------
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
--------------------------------------
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
--------------------------------------
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 0.371586% interest in Jonathan
the financial instrument, Molot LLC, which holds 6,000,000
type of instrument shares 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)
--------------- ---------------------
$238,895.00 0.371586% interest
(d) Aggregated information N/A
* Aggregated volume
* Price
(e) Date of the transaction 16 September 2021
(f) Place of the transaction N/A
--------------------------------------
Details of the person discharging managerial responsibilities/person
closely associated
(a) Name Jonathan T. Molot
---------------------------------------
Reason for the notification
(a) Position/status A PDMR occupying the position of
Chief Investment Officer
(b) Initial notification Initial
/Amendment
---------------------------------------
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
---------------------------------------
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 0.043679% interest in Jonathan
the financial instrument, Molot LLC, which holds 6,000,000
type of instrument shares in Burford Capital Limited
Identification code N/A
(b) Nature of the transaction Disposal of membership interests
to Jonathan T. Molot May 2021 Trust
(c) Price(s)and volume(s) Price(s) Volume(s)
-------------- -----------------------
$28,081.00 0.043679% interest
(d) Aggregated information N/A
* Aggregated volume
* Price
(e) Date of the transaction 16 September 2021
(f) Place of the transaction N/A
---------------------------------------
Details of the person discharging managerial responsibilities/person
closely associated
(a) Name Jonathan T. Molot May 2021 Trust
--------------------------------------
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
--------------------------------------
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
--------------------------------------
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 0.043679% interest in Jonathan
the financial instrument, Molot LLC, which holds 6,000,000
type of instrument shares 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)
-------------- ----------------------
$28,081.00 0.043679% interest
(d) Aggregated information N/A
* Aggregated volume
* Price
(e) Date of the transaction 16 September 2021
(f) Place of the transaction N/A
--------------------------------------
Details of the person discharging managerial responsibilities/person
closely associated
(a) Name Jonathan T. Molot
-------------------------------------
Reason for the notification
(a) Position/status A PDMR occupying the position of
Chief Investment Officer
(b) Initial notification Initial
/Amendment
-------------------------------------
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
-------------------------------------
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 0.748128% interest in Jonathan
the financial instrument, Molot LLC, which holds 6,000,000
type of instrument shares in Burford Capital Limited
Identification code N/A
(b) Nature of the transaction Disposal of membership interests
to Jonathan T. Molot Remainder
2017 Trust
(c) Price(s)and volume(s) Price(s) Volume(s)
-------------- ---------------------
$480,977.00 0.748128% interest
(d) Aggregated information N/A
* Aggregated volume
* Price
(e) Date of the transaction 16 September 2021
(f) Place of the transaction N/A
-------------------------------------
Details of the person discharging managerial responsibilities/person
closely associated
(a) Name Jonathan T. Molot Remainder 2017
Trust
--------------------------------------
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
--------------------------------------
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
--------------------------------------
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 0.748128% interest in Jonathan
the financial instrument, Molot LLC, which holds 6,000,000
type of instrument shares 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)
--------------- ---------------------
$480,977.00 0.748128% interest
(d) Aggregated information N/A
* Aggregated volume
* Price
(e) Date of the transaction 16 September 2021
(f) Place of the transaction N/A
--------------------------------------
Details of the person discharging managerial responsibilities/person
closely associated
(a) Name Jonathan T. Molot 2021 Trust
-------------------------------------
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
-------------------------------------
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
-------------------------------------
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 0.057498% interest in Jonathan
the financial instrument, Molot LLC, which holds 6,000,000
type of instrument shares 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)
-------------- ---------------------
$36,967.00 0.057498% interest
(d) Aggregated information N/A
* Aggregated volume
* Price
(e) Date of the transaction 16 September 2021
(f) Place of the transaction N/A
-------------------------------------
Details of the person discharging managerial responsibilities/person
closely associated
(a) Name Jonathan T. Molot
--------------------------------------
Reason for the notification
(a) Position/status A PDMR occupying the position of
Chief Investment Officer
(b) Initial notification Initial
/Amendment
--------------------------------------
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
--------------------------------------
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 0.057498% interest in Jonathan
the financial instrument, Molot LLC, which holds 6,000,000
type of instrument shares in Burford Capital Limited
Identification code N/A
(b) Nature of the transaction Acquisition of membership interests
from Jonathan T. Molot 2021 Trust
(c) Price(s)and volume(s) Price(s) Volume(s)
-------------- ----------------------
$36,967.00 0.057498% interest
(d) Aggregated information N/A
* Aggregated volume
* Price
(e) Date of the transaction 16 September 2021
(f) Place of the transaction N/A
--------------------------------------
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END
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