Juridica has announced that it is throwing in the towel and will shift into realisation mode. The Company will not make new investments (other than for funding existing investments in the Company’s portfolio where such funding is reasonably required to realise maximum shareholder value) and will seek to return capital to shareholders in the most appropriate manner, following the completion of investments.
Furthermore, the Board has commenced a comprehensive review of all its cost and fees structure, with the objective of reducing the ongoing costs and fees of the Company given the investment approach set out above.
The Company’s approach to realise the investment portfolio and return capital to shareholders, will not require the Company to dispose of assets ahead of their reasonably expected maturity nor will it result in the liquidation of the Company in the immediate future.
Lord Brennan, Chairman of Juridica, commented: “Both the Board of Juridica and its investment manager acknowledge that scale and diversity are now required in order to invest successfully in this asset class, which is not achievable under the Company’s existing structure. ” But the announcement follows on quite quickly from the recent disclosure that another court case has failed to deliver the returns they were expecting and a fall in Juridica’s share price.
A further announcement regarding the above matters will be made to shareholders in due course.
JIL : Juridica throws in the towel