RIVER GL. ORD A LS-,005

River Global has likely completed the sale of its asset management business to Liontrust and will thereafter hold about £10m in Liontrust shares and roughly £2m in cash. Consideration shares worth up to £8,723,665 are to be issued at the end of July and paid out in early August; from the initial shares River Global expects a dividend of around £350,000 in August. Additional consideration shares are expected following a restructuring by the European Opportunities Trust. The board continues to value the holding in Parmenion at £75–90m (52–63 pence per share) and notes that, upon completion, River Global will be classified as a cash shell under AIM rule 15, which would suspend trading for six months unless remedial action is taken. Martin Gilbert will move to the Liontrust board as a non-executive director. » More on de.investing.com