Share Name Share Symbol Market Type Share ISIN Share Description
River Merc Red LSE:RMMC London Ordinary Share GG00BZ8VFG05 RED ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 205.50p 203.50p 207.50p 205.50p 205.25p 205.25p 12,556 08:00:09
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 0.0 38.2 58.1 3.5 95.44

River Merc Red Share Discussion Threads

Showing 51 to 73 of 75 messages
Chat Pages: 3  2  1
DateSubjectAuthorDiscuss
10/8/2018
10:05
i like the compulsory redemption, though would like the facility to convert into another R&M fund. The key point is that it is not in the manager's interest: they are on a percentage fee so a bigger market cap suits them. what it does is ensure that the focus remains on microcaps and does not drift to small caps. so i see nothing to complain about, and although the number of shares we hold declines, the overall value should not.
mad foetus
10/8/2018
09:53
Henry: I have had shares redeemed but not been paid although Corporate action says "around" August 10th Got paid later today.
petewy
30/7/2018
08:56
River and Mercantile UK Micro Cap Investment Company Limited Completion of partial compulsory redemption and total voting rights Pursuant to the River and Mercantile UK Micro Cap Investment Company Limited's (the "Company") compulsory partial redemption of its redeemable ordinary shares of no par value (the "Shares") announced on 11 July 2018, 5,506,817 Shares, approximately 10.6% of Shares in issue, were redeemed and cancelled on 27 July 2018 and, accordingly, 46,445,043 Shares remain in issue. The remaining Shares which have not been redeemed will trade under a new ISIN - GG00BZ8VFG05 (the "New ISIN"), which will be enabled and available for transactions from 8.00 a.m. today, 30 July 2018. CREST will automatically transfer any open transactions to the New ISIN. It is expected that payments of redemption monies will be effected either through CREST (in the case of Shares held in uncertificated form) or by cheque (in the case of Shares held in certificated form) by 10 August 2018. The above figure (46,445,043) may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest, in the Company under the FCA's Disclosure Guidance and Transparency Rules.
henryatkin
15/7/2018
18:27
Thank you, westcountryboy. Excuse my ignorance, but could the company not pay investors a 'special dividend' of some sort rather than cancel shares? Surely, that would be more accretive for shareholders - a nice payout and still the same number of shares held... I know I can't moan about the deal I signed up to, but still this is not nice reading: "To the extent that any redemption takes place at a time when the Ordinary Shares are trading at a significant premium to the prevailing unaudited NAV, Shareholders may receive an amount in respect of their redeemed Ordinary Shares that is materially below the market value of those shares prior to redemption."
tin5866
15/7/2018
15:20
The main question must be whether the managers have a portfolio and a skillset that is worth backing - and also whether you could do better in this particular part of the stockmarket universe by buying companies yourself. I like the smallcap sector and mostly buy for myself, but I think the managers here have a risk appetite and an eye for tech style growth opps which I don't have (and in any case don't have the time to acquire). So I like to have a small exposure to these sorts of shares through an additional holding here. The question of compulsory redemptions seems to me rather a red herring. There won't be any unless the portfolio value grows. Currently you are only losing 10% of your holding, though I agree that it would be better to keep them all if the company was happy to do that. I would wait to buy more until the discount widens again - there are bound to be opportunities sooner or later!
westcountryboy
15/7/2018
15:05
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.
tin5866
13/7/2018
19:58
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.
westcountryboy
13/7/2018
16:08
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 ?
dragonsteeth
12/7/2018
12:00
Tipped by Questor in Telegraph.
tin5866
12/7/2018
10:08
Partial compulsory redemption at 216p probably why
watchlist1
12/7/2018
09:49
Why the rise? Someone press the wrong button.
petewy
21/5/2018
16:08
agree with you, bought a load this am.
nimbo1
14/5/2018
17:56
Its too cheap - someones come in bang on the right shoulder
luckymouse
23/4/2018
11:50
Numis 370p price target 23/4/18
eh9
10/3/2018
17:28
hTTps://www.telegraph.co.uk/investing/funds/willing-take-punt-outcome-brexit-trust-one-portfolio/?li_source=LI&li_medium=li-recommendation-widget
eh9
22/2/2018
20:10
It had a sell rating by Questor today..
petewy
22/2/2018
16:35
Sorry...I suspect Rodrigs will turn up elsewhere. Polar seem to be getting a lot of good young managers at the moment (Rushton and Hamilton and Godber spring to mind). I sold most of mine here at 230 but liquidity meant I couldn't shift them all. Whatever he was doing, it is not good for R&M as he was their star performer.
mad foetus
22/2/2018
16:33
Discount looking chunky though, could be a time to buy in.I suspect
mad foetus
22/2/2018
16:19
Old news that article is more than a week old. Deputy fund manager who shadowed the sacked manager has taken over. No need to fear a collapse in nav performance in the medium term.
eh9
22/2/2018
15:09
any idea of what's going on?
petewy
15/2/2018
15:28
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
slopsjon2
09/2/2018
13:34
SEC was similar when it lost its manager. From now RMMC should show whether its record was down to Rodrigs stockpicking or R&Ms propriety approach.
mad foetus
08/2/2018
14:24
tx river..
douglas fir
Chat Pages: 3  2  1
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