The River Global Liontrust distribution of fund management sale proceeds sent RVRG shares down 62.5% to 2.25p, the steepest decline among AIM movers on the week.
River Global (LON: RVRG) completed the sale of its fund management arm to Liontrust Asset Management on or around 1 July 2026, receiving the initial consideration at that time, according to an exchange filing on Investegate.
River Global Liontrust distribution: deal structure and retained assets
Under the terms set out in a London Stock Exchange announcement in March 2026, the initial consideration was fixed at £7.6 million, payable in Liontrust shares. To fund the immediate payment, Liontrust issued close to 3.0 million of its own shares at 255.87p each. Up to a further 820,722 Liontrust shares at the same price cover contingent adjustment consideration of up to £2.1 million, according to Alliance News.
To pass on the proceeds from the River Global Liontrust distribution, the company issued D shares to holders of its A shares, with those D shares carrying the entitlement to receive the distributed Liontrust stock. River Global will retain more than £2m in cash to cover annual running costs of £400,000.
The company will remain listed on AIM while it considers whether to pursue a reverse takeover. River Global’s B shares, representing its 30% interest in Parmenion Capital Partners LLP, were not included in the Liontrust deal, and the remaining Parmenion stake is estimated to be worth between £75m and £90m. Liontrust agreed to appoint River Global chair Martin Gilbert to its board as a non-executive director as part of the transaction.
AIM risers: cobalt disposal and insider buying drive gains
Celsius Resources (LON: CLA) rose 27.3% to 0.35p after signing a binding sale agreement with Chinalco (Xiong’an) Mining Corporation, a subsidiary of the Aluminum Corporation of China, to sell 95% of its Opuwo cobalt copper project in Namibia for $15 million (approximately 101.88 million yuan), according to Yahoo Finance. The deal is structured via Celsius’ wholly owned subsidiary Opuwo Cobalt Pty Ltd and covers both the 95% equity stake and an intercompany loan, according to an ASX announcement by Celsius Resources.
The Opuwo mineral resource is estimated at 225.5 million tonnes at 0.12% cobalt, 0.43% copper and 0.54% zinc. Celsius said the disposal will allow it to focus on its Philippine assets.
United Oil and Gas (LON: UOG) climbed 27.8% to 0.23p after raising £500,000 at 0.2p per share. The funds support the company as it presses ahead with a farm-out of the Walton-Morant licence offshore Jamaica, where it holds a 100% working interest. The licence was extended early and runs until 31 January 2028, according to Energy-Pedia. The current raise follows a £800,000 placing and subscription in July 2025, also earmarked for the farm-out process, according to an Investor Meet Company RNS.
Hercules (LON: HERC) gained 23.4% to 29p after chief executive Brusk Korkmaz bought 140,000 shares at 28.14p each, lifting his stake in the staffing business to 22.4%. The wife of finance director Paul Wheatcroft also bought 37,000 shares at 27p each.
Video games producer tinyBuild (LON: TBLD) climbed 22.2% to 11p after chief executive Alex Nichiporchik acquired 200,000 shares at 9.3p each. He holds close to 58% of the company.
Other fallers: ADM suspended while Huddled and Mercantile slide
ADM Energy (LON: ADME) shares were suspended after the company failed to publish its 2025 accounts on time; the accounts are expected before the end of August. Prior to suspension the shares fell 44.4% to 0.0125p, with the company noting that working capital is constrained.
Huddled Group (LON: HUD) fell by two-fifths to 0.45p after the online retailer raised a total of £1.51m, including £1.24m via subscription at 0.4p per share. A concurrent retail offer at the same price attracted nearly three times the amount sought; Huddled accepted £200,000 from the retail tranche, double its original retail target. Proceeds will fund increased stock levels and marketing activity, with management saying the cash should take the business to cash flow positive.
Mercantile Ports and Logistics (LON: MPL) dropped 36.6% to 1.3p after the National Company Law Tribunal adjourned the hearing relating to Karanja Terminal and Logistics. A further hearing is scheduled for 7 August. The port handled 1.2 million MT of cargo in 2025, against 1.33 million MT in the prior year, and net debt stands at £49.6m.
The 7 August tribunal session is the next binary event for Mercantile shareholders, with its outcome likely to determine whether the Karanja dispute can reach any resolution before year-end.
