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ANNOUNCEMENT TO BE MADE BY
THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF
THE AIM RULES FOR COMPANIES ("AIM RULES")
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COMPANY NAME:
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AssetCo plc (to be renamed River
Global PLC)
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COMPANY REGISTERED OFFICE ADDRESS AND
IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES)
:
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30 Coleman Street, London, England,
EC2R 5AL
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COUNTRY OF INCORPORATION:
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England and Wales
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COMPANY WEBSITE ADDRESS CONTAINING
ALL INFORMATION REQUIRED BY AIM RULE 26:
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www.assetco.com
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COMPANY BUSINESS (INCLUDING
MAIN COUNTRY OF OPERATION) OR, IN THE CASE
OF AN INVESTING COMPANY, DETAILS OF ITS
INVESTING POLICY). IF THE
ADMISSION IS SOUGHT AS A RESULT OF A
REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:
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AssetCo is primarily involved in
acquiring, managing and operating asset and wealth management
activities and interests, together with other related services. Its
main country of operation is the United Kingdom.
On 28 January 2025, the Company
published a Circular (available on its website
https://www.assetco.com/investor-relations/documents)
proposing to:
(i) implement a
reorganisation of its share capital by sub-dividing and
reclassifying the Company's Existing Ordinary Shares into New A
Ordinary Shares and New B Shares (the Share
Reorganisation);
(ii) seek admission to trading
on AIM in respect of the New A Ordinary Shares;
(iii) seek admission to trading on
AIM in respect of the New B Shares;
(iv) adopt the Amended
Articles;
(v) change the name of the
Company to River Global PLC pursuant to a proposed meeting of the
Company's Board.
The Share Reorganisation will enable
a clear division of the economic rights attached to the New A
Ordinary Shares and the New B Shares, such that existing
Shareholders and prospective investors who would like to invest in
the principal equities investment management business can do so
exclusively by virtue of holding the New A Ordinary Shares, whilst
existing Shareholders and prospective investors who would like to
focus on the Parmenion business can do so by virtue of holding the
New B Shares.
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DETAILS OF SECURITIES TO BE ADMITTED
INCLUDING ANY RESTRICTIONS AS TO TRANSFER
OF THE SECURITIES (i.e. where known, number and type of shares,
nominal value and issue price to which it seeks admission and the
number and type to be held as treasury shares):
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149,292,970 A ordinary shares of
£0.005 each, there are no restrictions on the transfer of these
securities
149,292,970 B shares of £0.005 each
(non-voting), there are no restrictions on the transfer of these
securities
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CAPITAL TO BE RAISED ON ADMISSION
(AND/OR SECONDARY OFFERING) AND ANTICIPATED MARKET CAPITALISATION
ON ADMISSION:
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No capital to be raised.
The market capitalisation of the A
ordinary shares and B shares is expected to be c. £45m
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PERCENTAGE OF AIM SECURITIES
NOT IN PUBLIC HANDS AT
ADMISSION:
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The total number of AssetCo A
ordinary shares of £0.005 each not held in public hands is
47,627,982 (31.9%).
The total number of AssetCo B Shares
of £0.005 each not held in public hands is 47,627,982
(31.9%).
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DETAILS OF ANY OTHER EXCHANGE OR
TRADING PLATFORM TO WHICH THE AIM
SECURITIES (OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE
ADMITTED OR TRADED:
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None
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THE COMPANY HAS APPLIED FOR THE
VOLUNTARY CARBON MARKET DESIGNATION
(Y/N)
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N
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FULL NAMES AND FUNCTIONS OF
DIRECTORS AND PROPOSED DIRECTORS
(underlining the first name by which each is known or including any
other name by which each is known):
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Martin James
Gilbert - Executive Chairman.
Gary Robert
Marshall - Chief Financial and Operating Officer.
Jonathan Donald Sherlock Dawson - Senior Independent
Director.
Tudor Griffith Davies - Non-Executive Director.
Christopher Harwood Bernard Mills - Non-Executive Director.
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FULL NAMES AND HOLDINGS OF
SIGNIFICANT SHAREHOLDERS EXPRESSED AS A
PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION
(underlining the first name by which each is known or including any
other name by which each is known):
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Name
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Number
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% of Issued Share
Capital
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Harwood Capital
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26,964,500
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18.7
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Punter Southall Group Ltd
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12,745,800
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8.9
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Mr Martin Gilbert
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8,892,500
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6.2
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Somers
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7,170,960
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5.0
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Hargreaves Lansdown Asset Mgt
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6,845,971
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4.8
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Mr Richard Griffiths
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5,700,402
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4.0
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Charles Stanley
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5,424,407
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3.8
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NAMES OF ALL PERSONS TO BE DISCLOSED
IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM
RULES:
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Not applicable
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(i)
ANTICIPATED ACCOUNTING REFERENCE DATE
(ii) DATE TO WHICH
THE MAIN FINANCIAL INFORMATION IN THE
ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by
unaudited interim financial information)
(iii) DATES BY WHICH IT
MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND
19:
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(i) 30 September
(ii) N/A - No Admission
Document
(iii) First 3 reports:
a. 31 March 2025 (in respect of the
full year report to 30 September 2024)
b. 30 June 2025 (in respect of the
half year report to 31 March 2025)
c. 31 March 2026 (in respect of the
full year report to 30 September 2025)
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EXPECTED ADMISSION DATE:
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7 March 2025
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NAME AND ADDRESS OF NOMINATED
ADVISER:
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Numis Securities Limited (trading as
Deutsche Numis) 45 Gresham St, City of London, London EC2V
7BF
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NAME AND ADDRESS OF
BROKER:
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Numis Securities Limited (trading as
Deutsche Numis) 45 Gresham St, City of London, London EC2V
7BF
Panmure Liberum Limited 25 Ropemaker
Street, London EC2Y 9LY
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OTHER THAN IN THE CASE OF A
QUOTED APPLICANT, DETAILS OF WHERE (POSTAL
OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM,
WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE
APPLICANT AND THE ADMISSION OF ITS SECURITIES:
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Not applicable - Quoted
Applicant
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THE CORPORATE GOVERNANCE CODE THE
APPLICANT HAS DECIDED TO APPLY
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QCA Corporate Governance
Code
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DATE OF NOTIFICATION:
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13 February 2025
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NEW/ UPDATE:
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NEW
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QUOTED APPLICANTS MUST ALSO COMPLETE THE
FOLLOWING:
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THE NAME OF THE AIM
DESIGNATED MARKET UPON WHICH THE APPLICANT'S SECURITIES HAVE
BEEN TRADED:
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AIM
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THE DATE FROM WHICH THE APPLICANT'S
SECURITIES HAVE BEEN SO TRADED:
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30 March 2007
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CONFIRMATION THAT, FOLLOWING DUE AND
CAREFUL ENQUIRY, THE APPLICANT HAS ADHERED TO ANY LEGAL AND
REGULATORY REQUIREMENTS INVOLVED IN HAVING ITS SECURITIES TRADED
UPON SUCH A MARKET OR DETAILS OF WHERE THERE HAS
BEEN ANY BREACH:
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Confirmed. AssetCo has adhered to all
legal and regulatory requirements involved in having its securities
traded upon AIM.
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AN ADDRESS OR WEB-SITE ADDRESS WHERE
ANY DOCUMENTS OR ANNOUNCEMENTS WHICH THE APPLICANT HAS MADE PUBLIC
OVER THE LAST TWO YEARS (IN CONSEQUENCE OF HAVING ITS SECURITIES SO
TRADED) ARE AVAILABLE:
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www.assetco.com/
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DETAILS OF THE APPLICANT'S STRATEGY
FOLLOWING ADMISSION INCLUDING, IN THE CASE OF AN INVESTING COMPANY,
DETAILS OF ITS INVESTING STRATEGY:
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AssetCo is an AIM listed company
primarily involved in acquiring, managing and operating asset and
wealth management activities and interests, together with other
related services. The strategy has principally focused on making
strategic acquisitions and building organic activities in areas of
the asset and wealth management sector.
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A DESCRIPTION OF ANY SIGNIFICANT
CHANGE IN FINANCIAL OR TRADING POSITION OF THE APPLICANT, WHICH HAS
OCCURRED SINCE THE END OF THE LAST FINANCIAL PERIOD FOR WHICH
AUDITED STATEMENTS HAVE BEEN PUBLISHED:
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No significant change, see the
trading update provided in the circular dated 28 January
2025, https://www.assetco.com/investor-relations/documents
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A STATEMENT THAT THE DIRECTORS OF THE
APPLICANT HAVE NO REASON TO BELIEVE THAT THE WORKING CAPITAL
AVAILABLE TO IT OR ITS GROUP WILL BE INSUFFICIENT FOR AT LEAST
TWELVE MONTHS FROM THE DATE OF ITS ADMISSION:
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The directors of AssetCo confirm that
in their opinion having made due and careful enquiry, the working
capital available to AssetCo and its group will be sufficient for
its present requirements, that is for at least twelve months from
the date of admission.
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DETAILS OF ANY LOCK-IN ARRANGEMENTS
PURSUANT TO RULE 7 OF THE AIM RULES:
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None
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A BRIEF DESCRIPTION OF THE
ARRANGEMENTS FOR SETTLING THE APPLICANT'S SECURITIES:
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A Ordinary Share and B Shares can be
settled in CREST.
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A WEBSITE ADDRESS DETAILING THE
RIGHTS ATTACHING TO THE APPLICANT'S SECURITIES:
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www.assetco.com/
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INFORMATION EQUIVALENT TO THAT
REQUIRED FOR AN ADMISSION DOCUMENT WHICH IS NOT CURRENTLY
PUBLIC:
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None. See circular dated 28 January
2025, https://www.assetco.com/investor-relations/documents
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A WEBSITE ADDRESS OF A PAGE
CONTAINING THE APPLICANT'S LATEST ANNUAL REPORT AND ACCOUNTS WHICH
MUST HAVE A FINANCIAL YEAR END NOT MORE THEN NINE MONTHS PRIOR TO
ADMISSION AND INTERIM RESULTS WHERE APPLICABLE. THE ACCOUNTS
MUST BE PREPARED IN ACCORDANCE WITH ACCOUNTING STANDARDS
PERMISSIBLE UNDER AIM RULE 19:
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www.assetco.com/investor-relations/annual-reports
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THE NUMBER OF EACH CLASS OF
SECURITIES HELD IN TREASURY:
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A total number of AssetCo A ordinary
shares of £0.005 each in issue is 149,292,970 of which 5,354,770
will be held in treasury from Admission.
A total number of AssetCo B shares of
£0.005 each in issue is 149,292,970 of which 5,354,770 will be held
in treasury from Admission.
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