Juridica (JIL) provides funding for civil corporate litigation in cases where the plaintiff has a strong case but lacks the finances or time to proceed. Realised gains on investments last year came to $34.2m (£20.5m) and resulted from one final settlement and three partial settlements, the latter having further recovery potential.
IC TIP:
Buy
at
119p
Net asset value fell from 220¢ per share to 202¢ after the company sold 6.1m shares held in treasury back to existing shareholders. This followed a decision by shareholders not to wind up the company, an option included in the company's initial set-up. Currently, the core investment portfolio is valued at $189.4m and is expected to generate significant returns over the next 12 to 18 months.
