Burford Capital Ltd 6-K, filed Sep 27, 2023
Burford Capital Ltd (BUR)
About this 6-K
Burford Capital Ltd filed this 6-K on September 27, 2023.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of September 2023
Commission File Number: 001-39511
BURFORD CAPITAL LIMITED
(Translation of registrant’s name into English)
Oak House
Hirzel Street
St. Peter Port
Guernsey GY1 2NP
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
This report includes materials as an exhibit that have been made available in respect of Burford Capital Limited as of September 27, 2023.
EXHIBIT INDEX
Exhibit |
| Description |
| | |
Exhibit 99.1 | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
BURFORD CAPITAL LIMITED | ||
By: | /s/ Mark N. Klein | |
Name: Mark N. Klein | ||
Title: General Counsel and Chief Administrative Officer | ||
Date: September 27, 2023
Exhibit 99.1
27 September 2023
TRANSACTION IN OWN SHARES
Burford Capital Limited (the “Company”), the leading global finance and asset management firm focused on law, today announces that, in accordance with the terms of its programme announced on September 19, 2023 to purchase its ordinary shares, no par value per share (“Ordinary Shares”) up to a maximum aggregate amount of £4.0 million (the “Programme”) in connection with forthcoming vesting of restricted stock units under the Burford Capital 2016 Long Term Incentive Plan (the “LTIP”), the Company purchased the following number of Ordinary Shares through Numis Securities Limited (“Numis”).
Date of purchase: | September 26, 2023 |
Aggregate number of Ordinary Shares purchased: | 34,373 |
Lowest price paid per Ordinary Share (GBp): | 1147.00 |
Highest price paid per Ordinary Share (GBp): | 1168.00 |
Volume weighted average price paid per Ordinary Share (GBp): | 1161.2075 |
After giving effect to the purchase of these Ordinary Shares on September 26, 2023, the Company has purchased a total of 261,000 Ordinary Shares for an aggregate gross consideration of £3,070,957.57, at an average price of GBp 1176.6121 per Ordinary Share, resulting in its completion of the Programme to satisfy the Company’s requirements in connection with the forthcoming vesting of restricted stock units under the LTIP.
Ordinary Shares purchased pursuant to the Programme will be initially held by the Company in treasury. Following the purchase and settlement of these Ordinary Shares, the Company’s issued ordinary share capital is 219,049,877, of which 350,947 Ordinary Shares are held in treasury and do not have any voting rights. Therefore, the total number of voting rights in the Company, excluding treasury shares, will be 218,698,930 after giving effect to the purchases described above. This figure for the total number of voting rights may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in the Company under the FCA’s Disclosure Guidance and Transparency Rules.
In accordance with Article 5(1)(b) of the UK version of Regulation (EU) No. 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, the table below contains detailed information with respect to the individual trades made by Numis as part of the Programme.
Individual trades information:
Number of Ordinary Shares purchased | Transaction price (pence per Ordinary Share) | Time of transaction | Trading venue |
266 | 1159.00 | 08:43:59 | AIMX |
259 | 1163.00 | 08:43:59 | AIMX |
152 | 1163.00 | 08:43:59 | AIMX |
363 | 1163.00 | 08:44:02 | AIMX |
436 | 1162.00 | 08:45:55 | AIMX |
378 | 1162.00 | 08:46:55 | AIMX |
435 | 1160.00 | 08:48:30 | AIMX |
79 | 1158.00 | 08:48:30 | AIMX |
713 | 1159.00 | 08:48:30 | AIMX |
385 | 1159.00 | 08:50:00 | AIMX |
725 | 1159.00 | 08:50:00 | AIMX |
455 | 1162.00 | 09:03:41 | AIMX |
291 | 1161.00 | 09:03:41 | AIMX |
138 | 1161.00 | 09:03:41 | AIMX |
84 | 1161.00 | 09:03:41 | AIMX |
414 | 1159.00 | 09:11:45 | AIMX |
43 | 1153.00 | 09:49:56 | AIMX |
68 | 1153.00 | 09:49:56 | AIMX |
250 | 1153.00 | 09:49:56 | AIMX |
32 | 1153.00 | 09:49:56 | AIMX |
407 | 1152.00 | 09:49:56 | AIMX |
95 | 1147.00 | 10:28:04 | AIMX |
106 | 1147.00 | 10:28:04 | AIMX |
155 | 1147.00 | 10:28:04 | AIMX |
492 | 1158.00 | 10:37:18 | AIMX |
217 | 1158.00 | 10:37:40 | AIMX |
49 | 1158.00 | 10:38:10 | AIMX |
166 | 1158.00 | 10:39:13 | AIMX |
199 | 1158.00 | 10:39:13 | AIMX |
132 | 1158.00 | 10:41:13 | AIMX |
388 | 1156.00 | 10:43:20 | AIMX |
125 | 1155.00 | 11:14:50 | AIMX |
237 | 1155.00 | 11:14:50 | AIMX |
423 | 1156.00 | 11:37:01 | AIMX |
81 | 1156.00 | 11:51:41 | AIMX |
156 | 1156.00 | 11:53:49 | AIMX |
431 | 1158.00 | 11:58:05 | AIMX |
420 | 1157.00 | 12:02:07 | AIMX |
63 | 1157.00 | 12:26:55 | AIMX |
354 | 1157.00 | 12:26:55 | AIMX |
17 | 1156.00 | 12:26:55 | AIMX |
22 | 1156.00 | 12:26:58 | AIMX |
108 | 1156.00 | 12:26:58 | AIMX |
259 | 1156.00 | 12:26:58 | AIMX |
71 | 1157.00 | 12:44:56 | AIMX |
394 | 1158.00 | 12:45:23 | AIMX |
413 | 1158.00 | 12:51:48 | AIMX |
405 | 1159.00 | 13:13:45 | AIMX |
95 | 1160.00 | 13:29:41 | AIMX |
259 | 1162.00 | 13:29:41 | AIMX |
115 | 1162.00 | 13:29:48 | AIMX |
8 | 1162.00 | 13:29:48 | AIMX |
373 | 1162.00 | 13:32:30 | AIMX |
33 | 1163.00 | 13:52:53 | AIMX |
6 | 1163.00 | 13:52:53 | AIMX |
503 | 1163.00 | 13:52:53 | AIMX |
402 | 1163.00 | 13:52:53 | AIMX |
500 | 1164.00 | 13:59:41 | AIMX |
411 | 1164.00 | 14:07:25 | AIMX |
300 | 1164.00 | 14:07:25 | AIMX |
133 | 1164.00 | 14:07:26 | AIMX |
347 | 1161.00 | 14:19:35 | AIMX |
44 | 1161.00 | 14:19:35 | AIMX |
400 | 1161.00 | 14:21:51 | AIMX |
471 | 1160.00 | 14:21:52 | AIMX |
953 | 1160.00 | 14:28:11 | AIMX |
943 | 1160.00 | 14:32:29 | AIMX |
360 | 1163.00 | 14:34:51 | AIMX |
375 | 1163.00 | 14:35:30 | AIMX |
643 | 1168.00 | 14:42:10 | AIMX |
430 | 1168.00 | 14:42:10 | AIMX |
356 | 1168.00 | 14:42:41 | AIMX |
565 | 1166.00 | 14:43:09 | AIMX |
68 | 1164.00 | 14:45:02 | AIMX |
289 | 1164.00 | 14:47:30 | AIMX |
321 | 1164.00 | 14:47:30 | AIMX |
48 | 1164.00 | 14:47:30 | AIMX |
32 | 1167.00 | 14:50:29 | AIMX |
469 | 1167.00 | 14:50:29 | AIMX |
29 | 1167.00 | 14:50:30 | AIMX |
125 | 1167.00 | 14:50:31 | AIMX |
125 | 1167.00 | 14:50:31 | AIMX |
90 | 1167.00 | 14:50:31 | AIMX |
437 | 1166.00 | 14:51:17 | AIMX |
30 | 1166.00 | 14:57:17 | AIMX |
131 | 1166.00 | 14:57:17 | AIMX |
74 | 1166.00 | 14:57:17 | AIMX |
140 | 1166.00 | 14:57:17 | AIMX |
60 | 1166.00 | 14:59:17 | AIMX |
97 | 1166.00 | 14:59:17 | AIMX |
85 | 1166.00 | 14:59:17 | AIMX |
144 | 1166.00 | 14:59:17 | AIMX |
16 | 1166.00 | 14:59:17 | AIMX |
47 | 1164.00 | 15:00:01 | AIMX |
357 | 1164.00 | 15:00:01 | AIMX |
275 | 1164.00 | 15:00:01 | AIMX |
149 | 1164.00 | 15:00:01 | AIMX |
24 | 1163.00 | 15:03:24 | AIMX |
60 | 1164.00 | 15:03:24 | AIMX |
42 | 1164.00 | 15:03:24 | AIMX |
229 | 1163.00 | 15:03:24 | AIMX |
160 | 1163.00 | 15:04:24 | AIMX |
56 | 1163.00 | 15:04:24 | AIMX |
94 | 1163.00 | 15:04:24 | AIMX |
84 | 1163.00 | 15:04:24 | AIMX |
377 | 1164.00 | 15:09:51 | AIMX |
141 | 1163.00 | 15:09:51 | AIMX |
125 | 1163.00 | 15:09:51 | AIMX |
75 | 1163.00 | 15:09:51 | AIMX |
121 | 1161.00 | 15:12:51 | AIMX |
42 | 1161.00 | 15:12:51 | AIMX |
231 | 1161.00 | 15:12:51 | AIMX |
158 | 1160.00 | 15:14:08 | AIMX |
214 | 1160.00 | 15:14:08 | AIMX |
55 | 1159.00 | 15:17:13 | AIMX |
62 | 1159.00 | 15:17:13 | AIMX |
255 | 1159.00 | 15:17:13 | AIMX |
200 | 1159.00 | 15:18:13 | AIMX |
150 | 1159.00 | 15:18:13 | AIMX |
44 | 1159.00 | 15:18:13 | AIMX |
112 | 1160.00 | 15:19:44 | AIMX |
438 | 1160.00 | 15:23:46 | AIMX |
26 | 1159.00 | 15:23:46 | AIMX |
343 | 1159.00 | 15:23:46 | AIMX |
29 | 1159.00 | 15:23:46 | AIMX |
42 | 1160.00 | 15:23:46 | AIMX |
56 | 1160.00 | 15:23:46 | AIMX |
83 | 1162.00 | 15:26:01 | AIMX |
101 | 1162.00 | 15:26:01 | AIMX |
83 | 1162.00 | 15:26:01 | AIMX |
102 | 1163.00 | 15:28:01 | AIMX |
150 | 1163.00 | 15:28:01 | AIMX |
12 | 1165.00 | 15:32:44 | AIMX |
71 | 1165.00 | 15:32:44 | AIMX |
417 | 1165.00 | 15:32:44 | AIMX |
100 | 1164.00 | 15:32:44 | AIMX |
100 | 1164.00 | 15:32:44 | AIMX |
50 | 1164.00 | 15:32:44 | AIMX |
100 | 1164.00 | 15:32:44 | AIMX |
20 | 1164.00 | 15:32:44 | AIMX |
125 | 1164.00 | 15:34:46 | AIMX |
234 | 1164.00 | 15:34:46 | AIMX |
100 | 1162.00 | 15:35:30 | AIMX |
150 | 1162.00 | 15:35:30 | AIMX |
137 | 1162.00 | 15:35:30 | AIMX |
43 | 1162.00 | 15:39:33 | AIMX |
53 | 1162.00 | 15:39:33 | AIMX |
375 | 1162.00 | 15:39:33 | AIMX |
18 | 1162.00 | 15:39:33 | AIMX |
100 | 1162.00 | 15:39:33 | AIMX |
101 | 1162.00 | 15:39:33 | AIMX |
364 | 1162.00 | 15:41:51 | AIMX |
373 | 1162.00 | 15:44:11 | AIMX |
77 | 1162.00 | 15:46:51 | AIMX |
340 | 1162.00 | 15:46:51 | AIMX |
375 | 1162.00 | 15:49:51 | AIMX |
108 | 1162.00 | 15:52:11 | AIMX |
300 | 1162.00 | 15:52:11 | AIMX |
28 | 1164.00 | 15:54:11 | AIMX |
78 | 1164.00 | 15:54:11 | AIMX |
140 | 1164.00 | 15:54:11 | AIMX |
54 | 1164.00 | 15:54:11 | AIMX |
177 | 1160.00 | 15:54:16 | AIMX |
75 | 1160.00 | 15:54:16 | AIMX |
For further information, please contact:
Burford Capital Limited | | |
For investor and analyst inquiries: | | |
Robert Bailhache, Head of Investor Relations, EMEA and Asia - email | +44 (0)20 3530 2023 | |
Jim Ballan, Head of Investor Relations, Americas - email | +1 (646) 793 9176 | |
For press inquiries: | | |
David Helfenbein, Vice President, Public Relations - email | +1 (212) 235 6824 | |
| | |
Numis Securities Limited - NOMAD and Joint Broker | +44 (0)20 7260 1000 | |
Giles Rolls | | |
Charlie Farquhar | | |
| | |
Jefferies International Limited - Joint Broker | +44 (0)20 7029 8000 | |
Graham Davidson | | |
Tony White | | |
| | |
Berenberg – Joint Broker | +44 (0)20 3207 7800 | |
Toby Flaux | | |
James Thompson | | |
Yasmina Benchekroun | | |
| | |
About Burford Capital
Burford Capital is the leading global finance and asset 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 New York Stock Exchange (NYSE: BUR) and the London Stock Exchange (LSE: BUR), and it works with companies and law firms around the world from its offices in New York, London, Chicago, Washington, DC, Singapore, Dubai, Sydney and Hong Kong.
For more information, please visit www.burfordcapital.com.
This announcement does not constitute an offer to sell or the solicitation of an offer to buy any ordinary shares or other securities of Burford.
This announcement does not constitute an offer of any Burford private fund. Burford Capital Investment Management LLC, which acts as the fund manager of all Burford private funds, is registered as an investment adviser with the US Securities and Exchange Commission. The information provided in this announcement is for informational purposes only. Past performance is not indicative of future results. The information contained in this announcement is not, and should not be construed as, an offer to sell or the solicitation of an offer to buy any securities (including, without limitation, interests or shares in any of Burford private funds). Any such offer or solicitation may be made only by means of a final confidential private placement memorandum and other offering documents.
Forward-looking statements
This announcement contains “forward-looking statements” within the meaning of Section 21E of the US Securities Exchange Act of 1934, as amended, regarding assumptions, expectations, projections, intentions and beliefs about future events. These statements are intended as “forward-looking statements”. In some cases, predictive, future-tense or forward-looking words such as “aim”, “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “forecast”, “guidance”, “intend”, “may”, “plan”, “potential”, “predict”, “projected”, “should” or “will” or the negative of such terms or other comparable terminology are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. In addition, Burford and its representatives may from time to time make other oral or written statements that are forward-looking, including in its periodic reports that Burford files with, or furnishes to, the US Securities and Exchange Commission, other information made available to Burford’s security holders and other written materials. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors because they relate to events and depend on circumstances that may or may not occur in the future. Burford cautions that forward-looking statements are not guarantees of future performance and are based on numerous assumptions, expectations, projections, intentions and beliefs and that Burford’s actual results of operations, including its financial position and liquidity, and the development of the industry in which it operates, may differ materially from (and be more negative than) those made in, or suggested by, the forward-looking statements contained in this announcement. Significant factors that may cause actual results to differ from those Burford expects include, among others, those discussed under “Risk Factors” in Burford’s annual report on Form 20-F for the year ended December 31, 2022 filed with the US Securities and Exchange Commission on May 16, 2023 and other reports or documents that Burford files with, or furnishes to, the US Securities and Exchange Commission from time to time. In addition, even if Burford’s results of operations, including its financial position and liquidity, and the development of the industry in which it operates are consistent with the forward-looking statements contained in this announcement, those results of operations or developments may not be indicative of results of operations or developments in subsequent periods.
Except as required by law, Burford undertakes no obligation to update or revise the forward-looking statements contained in this announcement, whether as a result of new information, future events or otherwise.