Litigation Capital Management Limited (DI) (LIT)

Sector:

Financials

Index:

FTSE AIM All-Share

100.00p
   
  • Change Today:
    -1.75p
  • 52 Week High: 117.00
  • 52 Week Low: 69.00
  • Currency: UK Pounds
  • Shares Issued: 117.78m
  • Volume: 149,290
  • Market Cap: £117.78m
  • RiskGrade: 218

Litigation Capital class action reaches settlement in Australia

By Josh White

Date: Thursday 09 Mar 2023

LONDON (ShareCast) - (Sharecast News) - Litigation Capital Management announced on Thursday that a class action in Australia, which it had fully funded, had reached a settlement.
The AIM-traded firm said its investment in the action was made through its direct investment portfolio, and was funded entirely from its balance sheet capital.

It said the settlement was expected to result in revenue of around AUD 14m (£7.79m) for LCM, including the capital invested in the case of AUD 8.25m and an anticipated gross profit of AUD 5.75m.

However, the final revenue and profit numbers remained subject to change, depending on the final distribution of settlement monies.

The company said it was expecting to receive the cash within the next 30 days.

LCM said the terms of the settlement remained confidential.

"We are pleased to see a positive resolution to this investment," said chief executive officer Patrick Moloney.

"It forms part of our mature portfolio of dispute investments, which have experienced some delays as a consequence of Covid.

"Nonetheless, we are pleased it provided strong returns in the circumstances."

At 1318 GMT, shares in Litigation Capital Management were up 6.45% at 74.51p.

Reporting by Josh White for Sharecast.com.

Email this article to a friend

or share it with one of these popular networks:


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 100.00p
Change Today -1.75p
% Change -1.72 %
52 Week High 117.00
52 Week Low 69.00
Volume 149,290
Shares Issued 117.78m
Market Cap £117.78m
RiskGrade 218

LIT Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
71.20% above the market average71.20% above the market average71.20% above the market average71.20% above the market average71.20% above the market average
61.54% above the sector average61.54% above the sector average61.54% above the sector average61.54% above the sector average61.54% above the sector average
Price Trend
57.13% above the market average57.13% above the market average57.13% above the market average57.13% above the market average57.13% above the market average
57.26% above the sector average57.26% above the sector average57.26% above the sector average57.26% above the sector average57.26% above the sector average
Income
39.84% above the market average39.84% above the market average39.84% above the market average39.84% above the market average39.84% above the market average
26.98% above the sector average26.98% above the sector average26.98% above the sector average26.98% above the sector average26.98% above the sector average
Growth
89.47% above the market average89.47% above the market average89.47% above the market average89.47% above the market average89.47% above the market average
96.23% above the sector average96.23% above the sector average96.23% above the sector average96.23% above the sector average96.23% 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 01-Mar-2024

Time Volume / Share Price
16:35 1,250 @ 100.00p
16:35 74 @ 100.00p
16:35 175 @ 100.00p
16:35 394 @ 100.00p
16:35 606 @ 100.00p

LIT Key Personnel

CEO Patrick Moloney
CFO Mary Gangemi

Top of Page