21st Jan 2021 19:14
River & Mercantile UK Micro Cap Investment Co Ltd - investment company - Intends to undertake a compulsory redemption of its shares. The move follows the aim to return the company's net asset value to around GBP100 million. The company says its NAV has grown to GBP117 million. Accordingly, about GBP15 million is to be returned to shareholders pursuant to the redemption at a price based on the company's NAV per share as at close of business on January 15. River & Mercantile says its NAV per share as at Friday last week was GBP2.5336 and after deduction for expenses, shareholders will receiver for each redeemed share GBP2.5335. Prior to the redemption the company has 46.5 million shares in issue. All of the shares redeemed on the redemption date, being Friday next week, will be cancelled.
Current stock price: 223.00 pence, up 2.3% on Thursday
Year-to-date change: up 3.7%
By Evelina Grecenko; [email protected]
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