Juridica, the leading provider of strategic capital for corporate legal claims, announces its financial results for the six months ended 30 June 2014.

Financial highlights and portfolio valuation

  • Current year settlements have generated gross proceeds of approximately US$84.6 million of which US$53.5 million in estimated net proceeds will be paid to the Company on 31 December 2014. These figures represent a 43.8% year-on-year increase in net case proceeds
  • Anticipated year-end dividend declaration of 20 pence per share to be paid following close of financial year end. Following this distribution, the Company will have returned approximately US$101.3 million to shareholders via dividends; totalling 58.6p per share
  • Fair value of the Company's investments at the period end was US$157.2 million not including the cash receivable of US$53.5 million, payable at 31 December 2014
  • Net Asset Value ("NAV") per ordinary share increased 4.45% to US$2.11 at 30 June 2014 (US$2.02 at 31 December 2013) driven by total comprehensive income of approximately US$10.3 million generated during the six month period ended 30 June 2014
  • Lifetime net proceeds total US$178.0 million
  • Gross internal rate of return from completed investments is 66.7%
  • At 30 June 2014, the Company has invested or committed approximately US$148.4 million across 16 investments

Lord Brennan QC, Juridica's Chairman, said: "During the first half of the year the Company has continued to manage its maturing portfolio of antitrust and commercial claim investments, whilst developing its patent activities through its partnership with ipCreate. Taken together with the recently announced returns on investments, we look to the future with optimism and expect the portfolio to continue maturing, delivering attractive dividend income and NAV growth."

Operational highlights

  • Three supplemental investments in the existing patent portfolio totalling US$2.9 million related to develop new patents in conjunction with subject matter experts and ipCreate
  • One new patent investment of US$3.37 million in partnership with ipCreate and the National Football League Players Association

Outlook

The Board of Directors, in consultation with the Company's Investment Manager expects several investments to be completed over the next 12-18 months. This is based on the Manager's review of presently scheduled trial dates, expected final decisions following trial, and possible settlements in multiple cases that are in an advanced stage of development.

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