Share Name Share Symbol Market Type Share ISIN Share Description
River And Mercantile Uk Micro Cap Investment Company Limited LSE:RMMC London Ordinary Share GG00BNDMJP11 RED ORD NPV
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 175.00 14 08:00:21
Bid Price Offer Price High Price Low Price Open Price
169.00 181.00 175.00 171.50 175.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 50.68 1.27 137.8 59
Last Trade Time Trade Type Trade Size Trade Price Currency
08:10:09 O 14 170.44 GBX

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Date Time Title Posts
15/8/202111:12River & Mercantile UK Micro Caps85

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River And Mercantile Uk ... (RMMC) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2022-07-05 15:10:59169.001,4682,480.92O
2022-07-05 15:09:36181.0011.81O
2022-07-05 12:00:00170.0010,82318,399.10O
2022-07-05 11:33:01171.441,5002,571.60O
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River And Mercantile Uk ... (RMMC) Top Chat Posts

River And Mercantile Uk ... Daily Update: River And Mercantile Uk Micro Cap Investment Company Limited is listed in the Equity Investment Instruments sector of the London Stock Exchange with ticker RMMC. The last closing price for River And Mercantile Uk ... was 175p.
River And Mercantile Uk Micro Cap Investment Company Limited has a 4 week average price of 170.75p and a 12 week average price of 170.75p.
The 1 year high share price is 327p while the 1 year low share price is currently 170.75p.
There are currently 33,897,954 shares in issue and the average daily traded volume is 28,384 shares. The market capitalisation of River And Mercantile Uk Micro Cap Investment Company Limited is £59,321,419.50.
mike the mechanic: Yes, RMMC is tarred by other small ITs and the wide buy/sell spread. Good to see movement today
a1samu: There should be something this fund manager should be able to do to narrow the gap between net asset value and share price like buy back shares if he is unable to pick winners, which the market believes by downgrading substantially the value here! Discount or premium is an indicator as to the prospects of a fund. This fund is habitually under performing and shareholders can only sell the shares at a massive discount! The best solution would be to wind up this fund and return the monies to the shareholders. This is a repeat of Woodford, the Manager having spent all of his cash, sitting om his hands, hoping something will turn up and in the meantime regardless his responsibility towards his shareholders, continues to charge them fees, costs, wages whatever he can get away with! The FCA should step in and liquidate hopeless situations like this, just like they have never done it with Woodford!
tin5866: Having bought this a few months back - when the discount seemed irrationally large - I am wondering if there is much point in continuing to hold it. Compulsory redemption means number of shares held reduces. Buying some more shares means more dealing costs (and shares now more expensive as discount has narrowed - although accepting that share price could go the other way as well). Compulsory redemption is also a nice payday for the manager (performance fee triggered). Any future compulsory redemption (always at NAV) could be when NAV is well below share price. Company will never pay dividends.
westcountryboy: The shares are redeemed at the stated price so you are deemed to have sold them at that price and obviously you then have fewer shares. What the share price subsequently does is up to the market. The share price has been depressed recently for other reasons, to do with the forced change of management - perhaps unreasonably (I think so anyway). In the recent past RMMC traded at a premium to NAV which was probably also unreasonable. In general I think a discount of 5-10% to NAV is the most likely share price outcome going forward, assuming the market gets more comfortable with the new management's performance.
dragonsteeth: Excuse my ignorance but this “Redemption221; is a new one on me, I’m more used to share buy backs . So the share price goes up , then at a certain date 10% approx of shares/ NAV is redeemed and the proceeds paid to shareholders of record. Presumably the share price will fall back close to price a few days ago but we receive extra money? Is that about right, thanks ?
eh9: Numis 370p price target 23/4/18
slopsjon2: Article in Shares mag page 6 Shock as highly respected small cap fund manager is pushed out Experts now believe several River & Mercantile funds could see big outflows SHARES IN investment trust River & Mercantile UK Micro Cap (RMMC) have started to recover after falling nearly 20% in the days after fund manager Philip Rodrigs was pushed out (7 Feb). Reports suggest conduct issues relating to Rodrigs were unearthed after more stringent systems and controls were drafted in by asset manager River & Mercantile (RIV) following an ongoing FCA competition investigation involving R&M and other investment managers relating to IPO price fixing. River & Mercantile said Rodrigs had left the business ‘following an investigation into a professional conduct issue’ although it clarified the conduct issue was unrelated to his portfolio manager responsibilities. Rodrigs was also manager of open-ended funds River & Mercantile UK Smaller Companies (GB00BC4DSV56) and R&M UK Dynamic Equity (GB00B7H1R583) , which have subsequently seen an estimated £43m of outflows according to calculations by stockbroker Numis on 12 February. Numis forecasts £650m of net outflows by mid-2018 in these two funds, accounting for just over half of the combined assets under management (£1.2bn) before the news. Stockbroker AJ Bell has removed River & Mercantile UK Smaller Companies from its ‘favourite funds’ list on the grounds that Rodrigs was considered to be a vital part of the fund’s investment process. His departure has led to the fund being replaced by Franklin UK Mid Cap (GB00B8K8HH50) on AJ Bell’s preferred funds list. (JC
riverman77: Unless there is a discount control mechanism in place which seeks to fix the discount at a particular level, discounts & premiums are entirely driven by the demand for the share. Investment trusts typically trade at a discount to nav, but there are a few, such as RMMC until yesterday, that trade on a premium. This is usually due to high level of confidence in the manager and strong performance. The concern here is that the market may no longer attach a premium to the shares until the new manager proves himself. Discounts of 10-15% are not uncommon in the small cap space. I reckon RMMC is now on a 10% discount, but I wouldn't necessarily consider this bargain territory relative to other small cap funds. Given all this I wouldn't be surprised to see this drift to a 15% discount in the near term.
eh9: Personally I believe there are grounds to make a formal complaint to the authorities. This breaks the listing rules the way the info was leaked prior to an rns.I would hold however since new fund manager strong and net assets much above current share prices.
henryatkin: Tweet Funds Fanatic ‏ @FundFanatic 38m38 minutes ago River and Mercantile has sacked fund manager Philip Rodrigs for a 'personal conduct' issue unrelated to his funds. George Sensor to take over UK Micro Cap trust (RMMC). Today's rebound in the shares halted.
River And Mercantile Uk ... share price data is direct from the London Stock Exchange
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