21 October 2024
Litigation Capital Management Limited
("LCM" or the "Company")
Exercise of Awards
Litigation Capital Management Limited (AIM:LIT), a leading international alternative asset manager of disputes financing solutions, announces that Susanna Taylor, a Person Discharging Managerial Responsibilities (PDMR) exercised options over 70,488 ordinary shares which have been sold. The award which was granted under the Company Deferred Bonus Share Plan ('DBSP') has been satisfied by the Employee Benefit Trust.
The following table details the quantum of options exercised which have been satisfied through the EBT:
| Employee | Position | Incentive Scheme | Number of Share/Options Awarded |
| Susanna Taylor | Head of APAC / PDMR | DBSP | 70,488 |
| Non-PDMR Employees | Various / Non-PDMR | DBSP | 303,076 |
Employee Benefit Trust ('EBT')
The Company has an EBT. The EBT is a discretionary trust for the benefit of the Company's employees, including the Directors of the Company. Following the exercise of the options detailed above, the EBT of the Company currently holds 4,164,191 Ordinary Shares, representing 3.63 per cent. of the of the Company's total voting rights.
For reference, the figure of 114,689,431 should 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 Tavistock |
| Patrick Moloney, Chief Executive Officer David Collins, Chief Financial Officer |
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| Cavendish (Nomad and Joint Broker) | Tel: 020 7220 0500 |
| Jonny Franklin-Adams and Rory Sale (Corporate Finance) Tim Redfern and Jamie Anderson (Corporate Broking) | |
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| Canaccord Genuity (Joint Broker) | Tel: 020 7523 8000 |
| Bobbie Hilliam | |
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| Tavistock (PR and IR) | Tel: 020 7920 3150 |
| Katie Hopkins Simon Hudson |
NOTES TO EDITORS
Litigation Capital Management (LCM) is an alternative 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 income 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.
This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014 as amended by regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the publication of this announcement, this information is now considered to be in the public domain 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 | Susanna Taylor | ||||||
| 2. | Reason for the notification | |||||||
| a) | Position / status | Head of APAC | ||||||
| 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 | Option over ordinary shares | ||||||
| b) | Nature of the transaction | Exercise of options | ||||||
| c) | Price(s) and volume(s) |
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| d) | Aggregated information - Aggregated volume - Aggregated price - Aggregated total |
70,488 options over ordinary shares | ||||||
| e) | Date of the transaction | 14 October 2024 (UK) | ||||||
| f) | Place of the transaction | Outside a trading venue | ||||||
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