Litigation Capital Management Limited (DI) (LIT)

Sector:

Financials

Index:

FTSE AIM All-Share

111.50p
   
  • Change Today:
      3.50p
  • 52 Week High: 120.75
  • 52 Week Low: 69.00
  • Currency: UK Pounds
  • Shares Issued: 116.71m
  • Volume: 62,171
  • Market Cap: £130.13m
  • RiskGrade: 218

Litigation Capital to fund competition action against GTR

By Josh White

Date: Tuesday 06 Jul 2021

LONDON (ShareCast) - (Sharecast News) - Dispute financing provider Litigation Capital Management has entered into a new litigation finance agreement with Edward Vermeer and David Boyle, it announced on Friday.

The AIM-traded firm said the financing was for a litigation application to start a collective action launched in the Competition Appeal Tribunal against Govia Thameslink Railway (GTR) and its parent companies, the London-listed Go-Ahead Group, and Keolis UK.

It said the agreement to provide a litigation finance facility would fund a claim alleging GTR abused its dominant position in the market for rail services on the London-Brighton mainline, in breach of the Competition Act 1998.

"We are seeing an increasing number of competition-based claims in the UK," said Litigation Capital chief executive officer Patrick Moloney.

"These types of claims are made possible through litigation funding as the economics would not permit a victim of anti-competitive behaviour to bring a claim alone without external support."

GTR operates commuter and regional services in London and the South East of England on the Thameslink, Southern and Great Northern franchise area, under the Gatwick Express, Great Northern, Thameslink and Southern brands.

Litigation Capital said it remained focused on "sustainable, long-term growth" through its strategic relationships, and the development of a "high-quality" portfolio of investments.

"We are delighted to support this action with this significant litigation funding agreement as LCM builds its position as a leader in disputes funding in the UK," said the company's executive vice-chairman Nick Rowles-Davies.

"Importantly, this agreement demonstrates our commitment to supporting and facilitating opportunities which benefit consumers and the broader communities in which we operate."

At 1020 BST, shares in Litigation Capital Management were up 1.76% at 132.8p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

LIT Market Data

Currency UK Pounds
Share Price 111.50p
Change Today 3.50p
% Change 3.24 %
52 Week High 120.75
52 Week Low 69.00
Volume 62,171
Shares Issued 116.71m
Market Cap £130.13m
RiskGrade 218

LIT Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
74.64% above the market average74.64% above the market average74.64% above the market average74.64% above the market average74.64% above the market average
64.81% above the sector average64.81% above the sector average64.81% above the sector average64.81% above the sector average64.81% above the sector average
Price Trend
63.40% above the market average63.40% above the market average63.40% above the market average63.40% above the market average63.40% above the market average
40.87% above the sector average40.87% above the sector average40.87% above the sector average40.87% above the sector average40.87% above the sector average
Income
36.10% above the market average36.10% above the market average36.10% above the market average36.10% above the market average36.10% above the market average
13.43% above the sector average13.43% above the sector average13.43% above the sector average13.43% above the sector average13.43% above the sector average
Growth
91.14% above the market average91.14% above the market average91.14% above the market average91.14% above the market average91.14% above the market average
94.50% above the sector average94.50% above the sector average94.50% above the sector average94.50% above the sector average94.50% above the sector average

LIT Dividends

  Latest Previous
  Final Final
Ex-Div 28-Sep-23 14-Nov-19
Paid 27-Oct-23 11-Dec-19
Amount 2.25p 0.83¢

Trades for 24-May-2024

Time Volume / Share Price
16:35 23,000 @ 111.50p
16:35 1 @ 111.50p
16:35 10,095 @ 111.50p
16:35 3,604 @ 111.50p
16:35 9,300 @ 111.50p

LIT Key Personnel

CEO Patrick Moloney
CFO Mary Gangemi

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