River Global Plc

AIM cash shell status after sale

Follows from Return of capital – paid, closed 7 Aug 2026Follows from EOT strategic review and AUM attrition – Review concluded; rollover take-up sets earn-out, closed 30 Jun 2026

On completion of the sale on 30 June 2026 River Global became an AIM Rule 15 cash shell. On 26 Oct 2026 the Board ruled out a reverse takeover or re-admission. It will seek AIM cancellation, targeted for early December, then re-register as private. It plans to realise the 30% Parmenion interest and later wind up. It took £1.1m cash for the contingent consideration.

Consideration

2,970,232 Liontrust shares issued as initial consideration; contingent up to 820,721 Liontrust shares

Route

No reverse takeover or re-admission; seek AIM cancellation and re-registration as private company (announced 26 Oct 2026) 26 Oct 2026 ↗

Approval

Not less than 75% of votes cast by eligible shareholders at a general meeting 26 Oct 2026 ↗

Remaining asset

Structured 30% equity interest in Parmenion Capital Partners LLP 26 Oct 2026 ↗

End game

Realise Parmenion Interest, return capital to B shareholders, voluntarily wind up the Company 26 Oct 2026 ↗

Contingent consideration

Up to £2.1m in Liontrust shares replaced by £1.1m cash received; clawback up to c.£985K, nil by end August 2028 26 Oct 2026 ↗

Next: Circular and general meeting to approve AIM cancellation and re-registration

1. 26 Oct 2026 Route chosen: AIM cancellation, then wind-up
2. 1 Jul 2026 Completed 30 June; share distribution pending
3. 30 Jun 2026 FCA approved; completion expected 30 June
4. 29 Jun 2026 Shareholders approved return of capital; D Shares issued