Juridica wins settlement on two investee cases

Juridica Investments told investors to look forward to a bit more cash on Monday, announcing the settlement of two of its investee cases.

The AIM-traded provider of strategic capital for corporate legal claims to businesses and the legal markets said one of the cases was a definitive settlement agreement, with gross proceeds expected to be around $65m (£45.6m).

Juridica’s board confirmed the second case was a partial settlement agreement with proceeds worth £800,000, with the case ongoing.

“These gross proceed amounts will be reduced by tax and other reserved, and Juridica expects net proceeds from both settlements to be transferred to the company prior to the end of 2016,” the board said in a statement.

Once the cash proceeds from the two settlements were received, the board said it would consider the most appropriate way to distribute returns to shareholders.

The two case results represented $55m of the $126m 2015 year-end net asset value reported by Juridica on 31 March.

At 1400 BST, shares in Juridica Investments were trading up 16.85%, at 52p.