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River Global plc announced on 29 July 2026 that the High Court of Justice approved its Capital Reduction on 28 July 2026. This action facilitates the transfer of 2,970,232 Liontrust Ordinary Shares, with a book value of £8,643,375.12 as of 27 July 2026, to D Shareholders. D Shareholders will receive 0.01660 Initial Consideration Shares for each D Ordinary Share held, with the Capital Reduction expected to become effective around 31 July 2026.
| Date | 29 Jul 2026 |
| Time | 16:42:50 |
| Category | Corporate updates |
| ID | 4382O |
29 July 2026
LEI: 213800LFMHKVNTZ7GV45
River Global plc
("River Global" or the "Company")
Update on Capital Reduction and Return of Capital
River Global is pleased to announce that the High Court of Justice, at a confirmation hearing held yesterday (the "Confirmation Hearing"), has approved the Capital Reduction as described in the circular to Shareholders published on 9 June 2026 (the "Circular").
As set out in the Circular, the Capital Reduction is required to facilitate, so far as possible, the transfer to Shareholders on the basis set out in the Circular of the 2,970,232 Liontrust Ordinary Shares (the "Initial Consideration Shares") received by the Company on Completion of the sale of its subsidiary, River Global Holdings, to Liontrust.
On the basis of the Initial Consideration Shares having a Book Value as at the date of this announcement of £8,643,375.12 (based on the Closing Price per Liontrust Ordinary Share of 291.0 pence on 27 July 2026, being the latest practicable date prior to the Confirmation Hearing) and the aggregate nominal value of the D Ordinary Shares being cancelled pursuant to the Capital Reduction being £8,723,665.00:
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all of the Initial Consideration Shares will be transferred to D Shareholders pursuant to the Capital Reduction and Return of Capital (and the excess of the share capital cancelled pursuant to the Capital Reduction will be credited to the reserves of the Company); and |
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pursuant to the Capital Reduction, D Shareholders will be entitled to receive 0.01660 Initial Consideration Shares for each D Ordinary Share held at the Capital Reduction and Return of Capital Record Time. |
The Court Order confirming the Capital Reduction, which was received earlier today, and a statement of capital approved by the Court in connection therewith will be sent to the Registrar of Companies shortly. The Capital Reduction will become effective on registration of the Court Order and accompanying statement of capital by the Registrar of Companies - this is now expected to be on or around 31 July 2026. Otherwise, the Expected Timetable set out in the Circular remains unchanged.
The number of shares admitted to trading will be unchanged by the Capital Reduction. The crediting of CREST accounts and despatch of share certificates in respect of Initial Consideration Shares pursuant to the Return of Capital will take place as soon as reasonably practicable after, and within 14 days of, the Effective Date.
The Company will make a further announcement confirming the Effective Date in due course.
For the purposes of this announcement, "Closing Price" means the closing price on the London Stock Exchange of a Liontrust Ordinary Share on the relevant date derived from Bloomberg.
Capitalised terms used but not defined in this announcement have the meaning given to them in the Circular. Certain figures included in this announcement have been subject to rounding adjustments.
For further information, please contact:
River Global PLC
Martin Gilbert, Chairman
Tel: +44 (0) 7788 338157
Panmure Liberum Limited
Nominated Advisor and Broker
Atholl Tweedie
Tel: +44 (0) 20 7886 2500
H/Advisors
Neil Bennett
Rachel Cohen
Tel: +44 (0) 20 7379 5151