leadf
logo-loader
RNS
viewManolete Partners PLC

Manolete Partners - Update re COVID-19

RNS Number : 4906I
Manolete Partners PLC
02 April 2020
 

2 April 2020

 

 

Manolete Partners PLC

("Manolete" or the "Company")

 

Update re COVID-19

Manolete Partners plc (AIM:MANO), the leading listed UK insolvency litigation financing company, provides the following operational update.

 

We have successfully adjusted to the ongoing COVID-19 crisis. We remain fully operational, all employees in our regional offices work from home and employees in our London headquarters have been working from home for the last three weeks. Activity levels in March 2020 were high, featuring: 50 new case enquiries, 15 new signed cases and 8 case completions.

 

While there have been some delays in the Courts, very few of our cases go to Court and we have been conducting mediations and other Alternative Dispute Resolution meetings using video conferencing services during this current period of social distancing.

 

In respect of the twelve-month period ending 31 March 2020, we have achieved:

·      A 131% increase in new cases (141; FY19: 61);

·      A 54% increase in completed cases (54; FY19: 35); and

·     Gross proceeds of £10.1m (FY19: £9.3m) for the full year; with gross proceeds in the second half of FY20 of £7.7m, compared to £2.4m in the first half.

 

 

For further information please contact:

 

Manolete Partners                                                       

Steven Cooklin (Chief Executive Officer)                      via Instinctif Partners

 

Peel Hunt (NOMAD and Broker)                                 +44 (0)20 7418 8900                                      

Guy Wiehahn

Rishi Shah

 

Instinctif Partners                                                       +44 (0)78 3767 4600

Tim Linacre

Lewis Hill

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
UPDQFLFBBZLLBBK

Quick facts: Manolete Partners PLC

Price: 280

Market: AIM
Market Cap: £122 m
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

2 min read