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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| River And Mercantile Group Plc | LSE:RIV | London | Ordinary Share | GB00BLZH7X42 | ORD GBP0.003 |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 49.40 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 50.00 | 51.00 | ||||
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 49.40 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 08/3/2024 | 08:09 | UKREG | ARK Invest UCITS ICAV - Net Asset Value(s) |
River And Mercantile (RIV) Share Charts1 Year River And Mercantile Chart |
|
1 Month River And Mercantile Chart |
Intraday River And Mercantile Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 16/6/2022 | 21:37 | River & Mercantile Group | 264 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|
| Top Posts |
|---|
Posted at 06/6/2022 14:06 by topvest I've exited RIV today. Although Assetco will have c£60m of cash on day 1 and with a market cap of c£140m or so, its ending up a bit of a messy group with a downsized RIV business with about £3bn AUM, central costs x 2, Two very small managers (Rize ETF and Saracen) and a 30% holding in Parmenion. The price is also getting hammered with those thinking the same and presumably not wanting Assetco shares. I can't see Assetco being profitable for a while, and conditions have certainly materially deteriorated in the last 6m, so there are far better opportunities elsewhere in the asset management sector. I also think there is risk of further defections from RIV once the deal has gone through. Overall, not convinced.RIV has netted me a 35% profit after the B shares in c5 years, before dividends. Not a bad return as the dividends were good. Overall, I am still a bit disappointed with the outcome though. I had hoped for more from RIV as it was a really good company. In my view, Martin Gilbert has not really created that much value. OK, the Schroders sale was good, but it destroyed value in the asset manager and US business. Martin Gilbert looks a bit all over the place on strategy. Hopefully, Christopher Mills will keep him heading in the right direction. All looks a bit S4 Capital like! Oh well, a profit is a profit. I will continue to follow Harwood through holding the investment vehicles of Christopher Mills; I may buy directly into Assetco when it can be valued more clearly, but think I will pass for now. |
Posted at 31/5/2022 09:51 by velocytongo "0.07392 shares in Assetco plc in exchange for each River and Mercantile Group plc share held"Is this multplied by the AssetCo share price on the day or has the Assetco price already been agreed for the purposes of the calculation? The fall in AssetCo could be due to selling by people who have managed to get a borrow on the AssetCo shares. Vt |
Posted at 21/5/2022 19:06 by topvest I think the base cost for the B share issue is 220p / 220p + the share price on day 1 after B shares. So, it should be 220/c320p but based on current prices could be 220p/265p so more base cost against the Solutions business. Probably makes sense actually as the Assetco bit is no longer worth £100m..Probably £50-60m. |
Posted at 20/5/2022 21:17 by topvest On the base cost CGT calculation, I think we are likely to get more of the base cost allocated to the Solutions business - so 220/265 rather than something like 220/320. So that means the tax liability will be lower than expected on the B share redemption? The base cost of the Assetco shares will be half that originally envisaged assuming the share price goes to 45p post record date. Do you agree? |
Posted at 19/5/2022 13:24 by topvest Given the share price is only c260p that's putting 40p ish on the remaining business versus 110.5p at 1495p Assetco shares.At 1335p its 99p. So, certainly interesting now - you get Assetco shares at less than half price if you buy in now. Odd. Am I missing something? I suppose Assetco shares may be under some selling pressure when the deal goes through & given the way net outflows and markets have gone since the deal was struck, I suspect that Assetco has over paid for the remaining business. But they have overpaid with overpriced equity in my view. |
Posted at 08/3/2022 20:13 by topvest Yes, £190m back as a B share scheme approved on c12 April (subject to regulator approval) and then also the Assetco shares in Q2 sometime.The share price doesn't make sense. The B share return is 220p/share. The Assetco shares are worth 110p/share at the existing Assetco price. That's 330p/share versus 267p. Maybe there is an assumption that the Assetco share price may get hammered post deal, but there's still a wide arbitrage play here between 267p now and up to 330p later! Overall, they have delivered shareholder value, but they have self-harmed the equity asset management business with all the uncertainty. It doesn't look a great deal now from Assetco's perspective given c£1bn of outflows, Dan Hanbury walking and equity markets tanking! |
Posted at 25/1/2022 13:45 by speedsgh Recommended all share acquisition by AssetCo subject to:~ completion of the Solutions Sale ~ the return of £190m by RIV to RIV shareholders by way of Return of Capital The acquisition comprises 0.07392 New AssetCo shares for each RIV share and, based on AssetCo's closing price of 1550p on 24/1/2022, values each RIV share at 114.6p. Taken together the acquisition and the Return of Capital value each RIV share at 334.9p. The Scheme is expected to become effective during Q2 2022. Share price reaction suggests that the market seems underwhelmed... RECOMMENDED ALL-SHARE ACQUISITION - |
Posted at 18/1/2022 08:09 by speedsgh PUSU deadline extended again to 5.00 p.m. GMT on 25 January 2022...Extension of PUSU Deadline - Statement regarding River and Mercantile Group PLC - "We welcome the Board of River and Mercantile Group's decision to extend the offer period. Discussions have progressed over the festive period and into January. The extended period will allow us to finalise a potential offer to acquire River and Mercantile (excluding its Solutions business) for the benefit of both AssetCo and River and Mercantile shareholders. "Over the last few weeks, we have met with additional members of the River and Mercantile team which has confirmed our view of the great potential it has as an active equity and infrastructure investment manager. River and Mercantile has the people, expertise and product offering to be a core part of AssetCo as we build an agile 21st century asset and wealth management business that meets the needs of investors." |
Posted at 23/11/2021 20:10 by speedsgh From the FT...Martin Gilbert battles rival in effort to take over River and MercantileMartin Gilbert is battling a rival suitor for the London-listed asset manager River and Mercantile as he attempts to create a new competitor in the UK's investment industry.The veteran dealmaker has submitted a bid for River and Mercantile, which has also received an offer from Premier Miton, a rival fund house led by chief executive Mike O'Shea.A bidding war now appears likely with River and Mercantile's shares surging 12 per cent higher during morning trading in London on Tuesday.The rival bidders have until December 21 to confirm their takeover offers. Neither has disclosed any pricing details of the bids they have already made.AssetCo, the Aim-listed acquisition vehicle chaired by Gilbert, at present owns 5.85 per cent of River and Mercantile, while Premier Miton holds a 5 per cent stake.Gilbert is one of the UK investment industry's most prolific dealmakers. He founded Aberdeen Asset Management in 1983 and after multiple acquisitions then helped to engineer its merger with Standard Life in 2017 to create the company now known as Abrdn.Gilbert is deputy chair of River and Mercantile but has recused himself from the company's board while discussions about a deal take place.Earlier this year, AssetCo acquired Saracen Fund Managers, the Scottish asset management boutique, and it also holds stakes in Rize ETF and Parmenion, an advisory business previously owned by Abrdn.Peel Hunt, the broker, said Premier Miton needed to scale up to achieve its financial potential and was likely to be able to extract larger cost synergies from any deal with River and Mercantile.Peel Hunt added: "AssetCo is keen to scale up, has an existing platform (through its Saracen business) and might be able to part fund any deal in cash."An analyst who declined to be named said the board of River and Mercantile faced a "real dilemma" in evaluating the takeover offers, which were both likely to be a mixture of cash and shares."There is significant uncertainty attached to the valuation of AssetCo's shares, which trade at a very wide discount?.?.?.?This could affect the structure and value of the AssetCo offer."Both approaches are conditional on the completion of the sale of River and Mercantile's solutions business to Schroders for £230m in a deal that was agreed last month. The completion of that deal would leave R&M with assets of about £5.6bn.mike o'shea has served as the chief executive of premier miton since november 2019 following the merger of premier asset management and miton. o'shea joined premier in 1986 and rose to become chief in 2005.premier miton's share price dipped 0.9 per cent during morning trading in london while shares in assetco were unchanged. |
Posted at 23/11/2021 08:45 by speedsgh Here is the Premier Miton Group rns proposing an all-share offer subject to both the completion of the Solutions business disposal and return of net cash proceeds to R&M shareholders.Premier Miton Group plc ("Premier Miton") notes the recent media speculation in relation to River and Mercantile Group PLC ("River and Mercantile") and confirms that it has approached the Board of River and Mercantile to explore potentially acquiring the entire issued and to be issued share capital of River and Mercantile (the "Proposal") through the issue of shares. Any combination with River and Mercantile would be conditional on, inter alia, the successful completion of the proposed sale of its Solutions business to Schroders and the subsequent distribution of the net cash proceeds to River and Mercantile's shareholders. Premier Miton is an established, well-capitalised and profitable fund management operation, with a strong balance sheet and attractive dividend policy. Premier Miton believes the scale and synergy benefits arising from a combination with River and Mercantile would drive value accretion for both sets of shareholders. Premier Miton's management team is experienced in assessing and executing strategic opportunities and has recent and relevant integration experience following its own successful merger of Premier Asset Management Group and Miton Group in 2019. Premier Miton has been assessing the merits of a combination with River and Mercantile for a period of time and believes the scale and cultural alignment between the respective businesses would deliver a balanced and resilient business across a diversified product offering, enabling employees of the combined businesses to maximise their potential. This announcement does not amount to a firm intention to make an offer under Rule 2.7 of the Code and there can be no certainty that any transaction will ultimately be forthcoming. Premier Miton looks forward to continuing its positive engagement with the River and Mercantile Board. |
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