D Ordinary Share Issuance

River Global PLC

29 June 2026

 

THIS ANNOUNCEMENT CONTAINS INFORMATION THAT IS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AS IMPLEMENTED IN THE UNITED KINGDOM.

LEI: 213800LFMHKVNTZ7GV45

29 June 2026

RIVER GLOBAL PLC

("River Global" or the "Company")

D Ordinary Share Issuance

 

The Company confirms the issuance of D Ordinary Shares to A Shareholders at 8:00am today in accordance with the circular published by the Company on 9 June 2026 (the "Circular") relating to the Capital Reduction and Return of Capital which was approved by Shareholders on 25 June 2026.

Following the issuance of D Ordinary Shares, the A Ordinary Shares will be marked ex-entitlement in respect of the D Ordinary Shares with effect from the commencement of trading today, and the residual value of the A Ordinary Shares may be considered mainly in relation to the following components:

1.   Such number of Initial Consideration Shares in Liontrust Asset Management PLC ("Liontrust") that are retained by the Company for the benefit of A Shareholders following the Return of Capital, as set out in the Circular.

2.   Cash released to River Global PLC upon Completion of the Disposal of River Global Holdings Limited and any dividend due in respect of the Company's holding of Liontrust shares.

3.   An entitlement to receive a maximum of 820,721 Contingent Consideration Shares in Liontrust, dependent upon the revenues delivered to the enlarged Liontrust group (within twelve months of Completion of the Disposal) following the conclusion of the proposed reconstruction currently being undertaken by the board of European Opportunities Trust PLC ("EOT").

4.   The cash contribution due from the holders of the B Shares upon a future realisation of their interests.

Details of each of these components follows:

1.   The Company intends to distribute such number of the Initial Consideration Shares that have an aggregate market value as at 28 July 2026 up to the value of the Company's Merger Reserve Balance of £8,723,665, with the number of Initial Consideration Shares as represents the excess being retained by the Company for the benefit of A Shareholders.

2.   The Company anticipates retaining in excess of £2m in cash as a result of the Disposal. This will fund the on-going running costs of the Company which are currently estimated to be c.£400K per annum (of which it is anticipated c.£300K will represent the B Shareholders' allocation) albeit there will be a number of exceptional costs to settle in the period following the Disposal.

3.   As part of EOT's proposals, EOT shareholders will have an option to elect to receive shares in a new fund managed by the enlarged Liontrust group. The extent to which EOT shareholders elect this rollover option will largely determine the level of EOT assets managed by the enlarged Liontrust group and, consequently, the revenue generated in this respect during the twelve months following Completion of the Disposal.

4.   The contribution reflects the B Shareholders' allocation of the costs and expenses of maintaining the Company and, as at end March 2026, this amounted to c.£812,000.

Unless otherwise defined, all definitions used in this announcement will have the same meaning as described in the Circular.

ENDS

the Company's website: www.river.global

For further information, please contact:

River Global
Gary Marshall, CFOO
Martin Gilbert, Chairman
Tel: [phone]

H/Advisors
Neil Bennett
Rachel Cohen
Tel: [phone]

Panmure Liberum Limited
Nominated Adviser and Broker
Atholl Tweedie
Tel: [phone]

Important Information

This announcement contains information that is inside information for the purposes of the Market Abuse Regulation (EU) No 596/2014 as implemented in the UK. The person responsible for arranging for the release of this announcement on behalf of the Company is Gary Marshall.

 

END