Recent Insider Transactions • May 01
Executive Chairman recently bought UK£61k worth of stock On the 27th of April, Martin Gilbert bought around 2m shares on-market at roughly UK£0.04 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Martin's only on-market trade for the last 12 months. Announcement • Mar 17
Liontrust Asset Management PLC (LSE:LIO) entered into a conditional sale and purchase agreement to acquire River Global Holdings Limited from River Global Plc (AIM:RVRG) for £9.3 million. Liontrust Asset Management PLC (LSE:LIO) entered into a conditional sale and purchase agreement to acquire River Global Holdings Limited from River Global Plc (AIM:RVRG) for £9.3 million on March 16, 2026. Liontrust has agreed to acquire the entire issued share capital of River Global Holdings, the holding company for River Global PLC's asset management business, for a total consideration of up to £9.7 million (the "Consideration"). This consists of £7.6 million for the RGH business, excluding the mandate for European Opportunities Trust (EOT), satisfied by the issue of 2,970,232 new ordinary shares of 1 pence each in the capital of the Company ("Liontrust Shares") to River Global PLC, RGH's sole shareholder, on completion; and up to £2.1 million satisfied by the issue of up to 820,722 Liontrust Shares to River Global PLC or, subject to the number of Liontrust Shares to be issued being below an agreed threshold, at the sole discretion of Liontrust Asset Management, in cash, on the transfer of assets from EOT to a new open-ended fund ("Successor Fund") with a similar investment policy to EOT. The actual value of this contingent consideration will be calculated based on the expected annualised run rate net revenues of the Successor Fund. The proposed acquisition does not include River Global PLC's interests in the Parmenion fund platform business. Martin Gilbert will join the Board of Directors of Liontrust at completion as a Non-executive Director, providing extensive knowledge of asset management and other sectors. The Proposed Acquisition adds two investment trusts and new strategic partners, including Standard Life (formerly Phoenix Group) and Blevins Franks.
The transaction is subject to approval by regulatory board / committee and approval of offer by target shareholders. The expected completion of the transaction is August 31, 2026.
Alpha Financial Markets Consulting UK Limited acted as due diligence provider for Liontrust Asset Management PLC. RSM UK Group LLP acted as due diligence provider for Liontrust Asset Management PLC. Macfarlanes LLP acted as due diligence provider for Liontrust Asset Management PLC. Walker Morris LLP acted as due diligence provider for Liontrust Asset Management PLC. New Risk • Mar 16
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 49% per year over the past 5 years. Minor Risk Market cap is less than US$100m (UK£58.5m market cap, or US$78.0m). 
