Intended Purchases of Ordinary Shares
Burford authorized a $20 million share repurchase program for deferred compensation plan obligations.
- Share repurchase program authorization $20.0 million
- Maximum ordinary shares to be acquired 21,864,608
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Burford Capital Limited ("Burford"), the leading global finance and asset management firm focused on law, today announces that, on March 17, 2025, Burford's board of directors authorized a share repurchase program for Burford's ordinary shares, no par value per share ("Ordinary Shares"), to repurchase up to a maximum aggregate amount of $20.0 million (the "Share Repurchase Program") in connection with Burford's future obligations under the Burford Capital Deferred Compensation Plan.
The aggregate number of Ordinary Shares that may be acquired pursuant to the Share Repurchase Program may not exceed 21,864,608 Ordinary Shares under the authority granted to Burford by the shareholders at the annual general meeting held on May 15, 2024 (the "General Authority"). The Share Repurchase Program will commence with immediate effect and will continue until the earlier of (i) the expiration of the General Authority and (ii) until the maximum aggregate amount has been purchased under the Share Repurchase Program. It is intended that Ordinary Shares acquired pursuant to the Share Repurchase Program will be initially held in treasury and, at Burford's sole discretion, may subsequently be used in connection with Burford's short- and long-term incentive compensation, equity, equity-based and deferred compensation plans, as the case may be.
Burford intends to make the acquisitions of Ordinary Shares under the Share Repurchase Program in the United States in accordance with, and subject to the limits prescribed by, the General Authority and Rule 10b-18 under the US Securities Exchange Act of 1934, as amended. Acquisitions of Ordinary Shares pursuant to the Share Repurchase Program will take place in open market transactions and may be made from time to time depending on market conditions, share price and trading volume. The Share Repurchase Program does not require Burford to acquire any specific number of Ordinary Shares and may be modified, suspended, extended or terminated by Burford at any time without prior notice.
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