Juridica left with seven cases

Juridica left with seven cases – During 2017, Juridica’s NAV per share dropped by US$0.0977 per share from US$0.2541 per share at 31 December 2016 to US$0.1563 per share at 31 December 2017.  mostly this relates to the payment of dividends amounting to US$11.9 million (US$0.1074 per share) but it also made a profit during 2017 of US$1.1 million (US$0.0097 per share).

During the twelve-month period ended 31 December 2017:

  • Final settlement was received from Case 2709-E, which was fully resolved, delivering a total of US$181,000 to Juridica.
  • A total of US$12.9 million in reserves was received from Juridica’s large antitrust and competition investment.
  • Proceeds received from Investment 114107 totalling US$893,000 upon exercise of counterparty’s option to buy out Juridica’s interest.  Over the two-year life of the investment, the company received proceeds of US$2.6 million on an investment of US$1.3 million.

A total of seven investments remain active with three being litigation related and four relating to special purpose vehicles (“SPV”).

The Board announces that an interim dividend of 4p per share will be paid on 25 May 2018 to shareholders on the register at 13 April 2018.  This brings the total dividend paid since inception to 115.6p per share.

Corporate update

The Board of Directors announced on 18 November 2015 that it would not make any new investments (other than further funding of existing investments where such funding was reasonably required in the interests of shareholders) and that it would seek to make distributions to shareholders in the most appropriate manner, following the completion of investments.

The Board of Directors and the Company’s Manager continue to work to monetise all of the Company’s remaining investments by 31 December 2018.

JIL : Juridica left with seven cases

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