Juridica Investments Limited Portfolio update (5218Z)
07 2월 2014 - 4:00PM
UK Regulatory
TIDMJIL
RNS Number : 5218Z
Juridica Investments Limited
07 February 2014
Juridica Investments Limited
('Juridica' or the 'Company')
Portfolio update
Juridica, a leading provider of strategic capital for corporate
legal claims to both businesses and the legal markets, provides the
following update on developments in its portfolio.
In the Company's Commercial portfolio, US$7.0 million of
proceeds were received in December 2013:
-- Case 2510 completed, delivering US$3.0 million on an
investment of US$1.0 million; and
-- Case 1610 delivered just over US$4.0 million and is ongoing.
Juridica's investment in this case totals US$4.0 million and, in
addition, the Company retains a preferred share option over 33% of
its client's hard asset, which is being prepared for sale.
In addition, Case 5009-S has been certified for trial and is
awaiting assignment of a trial date, which is expected to be in the
current calendar year.
Further developments in the Company's Antitrust portfolio
include:
-- The trial of Case 8008-L, which was set to begin in the first
quarter of 2014, has been delayed following an adverse ruling on
the scope of Plaintiffs' claim. Advice has been received to the
effect that the ruling is expected to be partially or wholly
overturned in favour of the Plaintiff on appeal. While the appeal
may cause a nine to eighteen month delay in the completion of the
matter, the case could still resolve pending the ruling on appeal.
The Company's investment has thus far delivered proceeds to the
Company in excess of US$69 million;
-- Case 1208-A is set for trial in the second quarter of 2014.
The trial is expected to focus on damages, as liability has already
been established at the trial court level and upheld on appeal.
Whilst damages claimed exceed US$1.0 billion it is not possible to
estimate the Company's share which can only be determined once
there is a court award or settlement reached.
-- As previously reported, Case 5208-E is scheduled for trial in
the second quarter of 2014; and
-- Case 5308-U is awaiting the setting of a trial date.
Pre-trial merits discovery is complete. Challenges to expert
opinions remain pending.
In the Patent portfolio, as a result of its strategic
relationship with IpCreate, the Company is conducting due diligence
on several interesting patent investments, including additional
investments in some of its existing patent investments. The Company
is also evaluating further antitrust investments and one recently
obtained judgment.
- Ends -
This document contains forward looking statements, which are
based on Juridica Asset Management Limited's (JAML) current
expectations and assumptions and involve known and unknown risks
and uncertainties that could cause actual results, performance or
events to differ materially from those expressed or implied in such
statements. It is believed that the expectations reflected in these
statements are reasonable, but they may be affected by a number of
variables which could cause actual results or trends to differ
materially. Each forward looking statement speaks only as of the
date of this announcement. Except as required by the AIM Rules, the
London Stock Exchange or otherwise by law, the Company expressly
disclaims any obligation or undertaking to release publicly any
updates or revisions to any forward looking statements contained
herein to reflect any change in the Company's or JAML's
expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is
based.
For further information contact:
Juridica Asset Management
Limited
Richard W. Fields +1 (866) 443 1080
Cenkos Securities PLC
(Nominated Adviser
and Broker)
Nicholas Wells
Camilla Hume +44 (0) 20 7397 8900
Investec Bank PLC
(Joint Broker)
Jeremy Ellis +44 (0)20 7597 4000
Peel Hunt LLP
(Joint Broker)
Guy Wiehahn +44 (0)20 7418 8900
Bell Pottinger
Olly Scott +44 (0) 20 7861 3232
About Juridica Investments Limited
Juridica Investments is a leading provider of strategic capital
to the business community and the legal markets for corporate
claims. It invests directly and indirectly in a diversified
portfolio of corporate claims in litigation and arbitration.
Juridica is one of the premier sources of value-added and direct
financing for large business claims in the United States and one of
the leading sources in the United Kingdom.
The Company's clients are Fortune 1000 companies, FT Global 500
companies, inventors, major universities, and the leading law firms
that represent them. Juridica only accepts cases that have already
been carefully vetted and undertaken by leading lawyers.
Juridica works to make the legal system work better for business
claims. It does not invest in speculative claims or claims that do
not demonstrate economic value and clear merits. Juridica invests
only in business claims, and does not invest in class actions,
personal injury, product liability, or mass tort claims.
The Company's goal is to provide business clients with financial
choices that reduce risk and assist in maximising claim value.
Juridica was established on 21 December 2007 as a limited
liability, closed-ended investment company registered in Guernsey.
It has over US$200 million of assets under management. It was the
pioneer in alternative litigation financing and the first
closed-end fund of its kind ever listed on AIM, a market operated
by the London Stock Exchange (AIM: JIL.L).
The Company has appointed Juridica Asset Management Limited as
its exclusive investment manager to locate, evaluate and manage
direct and indirect investments in cases, claims and disputes.
http://www.juridicainvestments.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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