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Burford Capital Ltd (NYSE: BUR), a leading finance and asset management firm specializing in law, announced today that it will hold an extraordinary general meeting (EGM) to seek shareholder approval for several corporate changes, including the appointment of KPMG LLP as its independent registered public accounting firm and the authorization for the board to negotiate KPMG's fees.
The EGM, which is part of Burford's transition to full US issuer status anticipated later this year, will also propose amendments to the company's articles of incorporation, aiming to align with US market norms and adopt best practices as recommended by US counsel. The detailed resolutions and voting procedures were disclosed in the Notice of EGM distributed to shareholders and are available on the company's website.
Burford's shares are traded on both the New York Stock Exchange and the London Stock Exchange, with the company being incorporated in Guernsey. Due to this, and the involvement of Broadridge in tabulating votes, the final results from the EGM are expected to be announced on August 23, 2024.
This announcement is based on a press release statement.
In other recent news, Burford Capital, a global finance firm, has reported record-breaking first-quarter cash receipts for 2024, marking the highest in the company's history. The firm's strong liquidity position was also highlighted, with over $500 million in cash and securities reported. Burford Capital's asset management business contributed significantly, bringing in $4 million in cash receipts.
On the operational front, Burford Capital has disclosed significant financial and operational updates in recent filings with the Securities and Exchange Commission, emphasizing its compliance with SEC regulations. The company has also confirmed its commitment to filing annual reports under Form 20-F.
Adding to these developments, Burford Capital is set to join the Russell 3000® and Russell 2000® Indexes as of July 2024, becoming the first legal finance firm to attain this milestone. This inclusion is a testament to the company's growth and its role in supporting clients such as Fortune 500 companies and major law firms.
The CEO, Christopher Bogart, cited a recent $325 million commitment with a Fortune 50 company as evidence of the industry's momentum. These are part of the recent developments that have been shaping Burford Capital's trajectory.
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