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Regulatory Story
Company Burford Capital
TIDM BUR
Headline Notification of transactions by PDMRs
Released 17:10 15-Mar-2019
Number 0849T17

RNS Number : 0849T
Burford Capital
15 March 2019
 

15 March 2019

 
Notification of transactions by persons discharging managerial responsibilities

Burford Capital Limited ("Burford"), the leading global finance and investment management firm focused on law, has been notified of certain estate planning and charitable giving transactions by Christopher P. Bogart, Burford's Chief Executive Officer, and Jonathan Molot, Burford's Chief Investment Officer.

Estate planning

As announced previously, Mr Molot transferred 4,000,000 ordinary shares in Burford to Jonathan Molot LLC (the "LLC"), a company which is controlled by Mr Molot. Ongoing annual movement of ownership interests in the LLC back-and-forth between Mr Molot and annual trusts established by Mr Molot of which he and his family members are the beneficiaries is expected as a normal part of the US estate planning undertaken.  A further such movement occurred as of 15 March 2019 with a 23.19796 % interest in the LLC being returned to Mr Molot from the Jonathan T. Molot 2017 Trust.

These transfers do not affect the overall interest in shares in Burford held by Mr Molot and the associated annual trusts.

Charitable giving

Messrs Bogart and Molot have each established US charitable foundations and have each donated 250,000 ordinary shares in Burford to their respective foundation; in Mr Bogart's case, those shares were returned to Mr Bogart from Christopher Bogart LLC before their gift to the foundation, and in Mr Molot's case, those shares were held by him personally.  The foundations intend to give that donated stock to various charitable organizations over time, with a multi-year giving horizon.

The Notification of Dealing Forms for each of the transfers mentioned above are included at the end of this announcement. These notifications are provided in accordance with the requirements of the Market Abuse Regulation.

For further information, please contact:

Burford Capital Limited

 

Elizabeth O'Connell, CFA, Chief Financial Officer

+1 212 235 6825

Macquarie Capital (Europe) Limited - NOMAD and Joint Broker

+44 (0)20 3037 2000

Jonny Allison

 

Nicholas Harland

 

Liberum Capital Limited - Joint Broker

+44 (0)20 3100 2222

Richard Crawley

 

Jamie Richards

 

Numis Securities Limited - Joint Broker

+44 (0)20 7260 1000

Charlie Farquhar

 

Jonathan Abbott

 

Montfort Communications Limited - Financial Communications

+44 (0)20 3770 7908

Robert Bailhache - email

 

About Burford Capital

Burford Capital is the leading global finance and investment 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 London Stock Exchange, and it works with law firms and clients around the world from its principal offices in New York, London, Chicago, Washington DC, Singapore and Sydney.

For more information about Burford: www.burfordcapital.com

1

Details of the person discharging managerial responsibilities/person closely associated

 

(a)    Name

Jonathan T. Molot 2017 Trust

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 /Amendment

Initial

3

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

 

(a)    Name

Burford Capital Limited

 

(b)    LEI

549300FUKUWFYJMT2277

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, type of instrument

23.19796% interest in Jonathan Molot LLC, whose sole asset is 4,000,000 shares in Burford Capital Limited

 

Identification code

N/A

 

(b)    Nature of the transaction

Transfer of membership interests to Jonathan Molot

 

(c)    Price(s)and volume(s)

Price(s)

Volume(s)

Zero

23.19796% interest

 

 

 

(d)    Aggregated information

·     Aggregated volume

·     Price

N/A

 

(e)    Date of the transaction

15 March 2019

 

(f)    Place of the transaction

N/A

 

1

Details of the person discharging managerial responsibilities/person closely associated

 

(a)    Name

Jonathan Molot

2

Reason for the notification

 

(a)    Position/status

A PDMR occupying the position of Chief Investment Officer

 

(b)    Initial notification /Amendment

Initial

3

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

 

(a)    Name

Burford Capital Limited

 

(b)    LEI

549300FUKUWFYJMT2277

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, type of instrument

23.19796% interest in Jonathan Molot LLC, whose sole asset is 4,000,000 shares in Burford Capital Limited

 

Identification code

N/A

 

(b)    Nature of the transaction

Transfer of membership interests from Jonathan T. Molot 2017 Trust

 

(c)    Price(s)and volume(s)

Price(s)

Volume(s)

Zero

23.19796% interest

 

 

 

(d)    Aggregated information

·     Aggregated volume

·     Price

N/A

 

(e)    Date of the transaction

15 March 2019

 

(f)    Place of the transaction

N/A

 

1

Details of the person discharging managerial responsibilities/person closely associated

 

(a)    Name

Christopher Bogart

2

Reason for the notification

 

 

(a)    Position/status

A PDMR occupying the position of Chief Executive Officer

 

(b)    Initial notification /Amendment

Initial

3

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

 

(a)    Name

Burford Capital Limited

 

(b)    LEI

549300FUKUWFYJMT2277

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, type of instrument

Ordinary shares of nil par value

 

Identification code

GG00B4L84979

 

(b)    Nature of the transaction

Transfer of shares from Christopher Bogart LLC

 

(c)    Price(s)and volume(s)

Price(s)

Volume(s)

Zero

250,000

 

 

 

(d)    Aggregated information

·     Aggregated volume

·     Price

N/A

 

(e)    Date of the transaction

15 March 2019

 

(f)    Place of the transaction

N/A

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

 

(a)    Name

Christopher Bogart LLC

2

Reason for the notification

 

(a)    Position/status

A person closely associated with Christopher Bogart, a PDMR occupying the position of Chief Executive Officer

 

(b)    Initial notification /Amendment

Initial

3

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

 

(a)    Name

Burford Capital Limited

 

(b)    LEI

549300FUKUWFYJMT2277

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, type of instrument

Ordinary shares of nil par value

 

 

Identification code

GG00B4L84979

 

(b)    Nature of the transaction

Transfer of shares to Christopher Bogart

 

(c)    Price(s)and volume(s)

Price(s)

Volume(s)

Zero

250,000

 

 

 

(d)    Aggregated information

·     Aggregated volume

·     Price

N/A

 

(e)    Date of the transaction

15 March 2019

 

(f)    Place of the transaction

N/A

 

1

Details of the person discharging managerial responsibilities/person closely associated

 

(a)    Name

Christopher Bogart

2

Reason for the notification

 

(a)    Position/status

A PDMR occupying the position of Chief Executive Officer

 

(b)    Initial notification /Amendment

Initial

3

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

 

(a)    Name

Burford Capital Limited

 

(b)    LEI

549300FUKUWFYJMT2277

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, type of instrument

Ordinary shares of nil par value

 

Identification code

GG00B4L84979

 

(b)    Nature of the transaction

Transfer of shares to The Christopher Bogart and Elizabeth O'Connell Foundation

 

(c)    Price(s)and volume(s)

Price(s)

Volume(s)

Zero

250,000

 

 

 

(d)    Aggregated information

·     Aggregated volume

·     Price

N/A

 

(e)    Date of the transaction

15 March 2019

 

(f)    Place of the transaction

N/A

 

1

Details of the person discharging managerial responsibilities/person closely associated

 

(a)    Name

The Christopher Bogart and Elizabeth O'Connell Foundation

2

Reason for the notification

 

(a)    Position/status

A person closely associated with Christopher Bogart, a PDMR occupying the position of Chief Executive Officer

 

(b)    Initial notification /Amendment

Initial

3

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

 

(a)    Name

Burford Capital Limited

 

(b)    LEI

549300FUKUWFYJMT2277

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, type of instrument

Ordinary shares of nil par value

 

Identification code

GG00B4L84979

 

(b)    Nature of the transaction

Transfer of shares from Christopher Bogart

 

(c)    Price(s)and volume(s)

Price(s)

Volume(s)

Zero

250,000

 

 

 

(d)    Aggregated information

·     Aggregated volume

·     Price

N/A

 

(e)    Date of the transaction

15 March 2019

 

(f)    Place of the transaction

N/A

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

 

(a)    Name

Jonathan Molot

2

Reason for the notification

 

(a)    Position/status

A PDMR occupying the position of Chief Investment Officer

 

(b)    Initial notification /Amendment

Initial

3

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

 

(a)    Name

Burford Capital Limited

 

(b)    LEI

549300FUKUWFYJMT2277

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, type of instrument

Ordinary shares of nil par value

 

Identification code

GG00B4L84979

 

(b)    Nature of the transaction

Transfer of shares to The Jonathan Molot and Hattie Ruttenberg Foundation

 

(c)    Price(s)and volume(s)

Price(s)

Volume(s)

Zero

250,000

 

 

 

(d)    Aggregated information

·     Aggregated volume

·     Price

N/A

 

(e)    Date of the transaction

15 March 2019

 

(f)    Place of the transaction

N/A

 

1

Details of the person discharging managerial responsibilities/person closely associated

 

(a)    Name

The Jonathan Molot and Hattie Ruttenberg Foundation

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 /Amendment

Initial

3

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

 

(a)    Name

Burford Capital Limited

 

(b)    LEI

549300FUKUWFYJMT2277

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, type of instrument

Ordinary shares of nil par value

 

 

Identification code

GG00B4L84979

 

(b)    Nature of the transaction

Transfer of shares from Jonathan Molot

 

(c)    Price(s)and volume(s)

Price(s)

Volume(s)

Zero

250,000

 

 

 

(d)    Aggregated information

·     Aggregated volume

·     Price

N/A

 

(e)    Date of the transaction

15 March 2019

 

(f)    Place of the transaction

N/A

 

 

 

 


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