REG - Premier Miton Group Rivr&Merctl Grp Plc - Further re: River and Mercantile Group PLC

Premier MitonAnnouncement

13/01/2022 07:05

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RNS Number : 2806Y  Premier Miton Group PLC  13 January 2022

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INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE
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THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE CITY CODE ON TAKEOVERS
AND MERGERS (THE "CODE")

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

13 January 2022

Premier Miton Group plc

Premier Miton withdrawal from possible offer for River and Mercantile Group
PLC

Premier Miton Group plc ("PMI") announces that, further to its statement on 23
November 2021 confirming that it had approached the Board of River and
Mercantile Group PLC ("RMG") to explore potentially acquiring the entire
issued and to be issued share capital of RMG, PMI will not be making any offer
and has withdrawn from discussions.

Commenting on this, Mike O'Shea, PMI's Chief Executive said:

"We are most grateful to the Board of RMG for their co-operation and
assistance as we have assessed the merits of a possible transaction,
especially so given the major changes ongoing in their business. We have
concluded that there are insufficient commercial merits for our shareholders
to make a formal proposal for the acquisition of RMG. We wish the employees at
RMG well for their future and we look forward with confidence to pursuing our
own strategic plans for organic growth while at the same time exploring
tactical and strategic opportunities that can further strengthen our business
and accelerate our growth."

 -Ends-

Enquiries:

 Premier Miton Group plc                                    Tel: +44 (0)1483 306 090
 Mike O'Shea, Chief Executive Officer
 Piers Harrison, Chief Financial Officer

 Investec Bank plc (Financial Adviser, NOMAD & Broker)      Tel: +44 (0)20 7597 4000
 Bruce Garrow
 Tom Lewin

 Sean Crookes

 Ben Griffiths

 Virginia Bull

 Edelman Smithfield

 John Kiely                                                 +44 (0)7785 275665

 Latika Shah                                                +44 (0)7950 671 948

The person responsible for making this announcement is Catriona Fletcher,
Company Secretary.

Important notices and overseas shareholders

This communication is not intended to and does not constitute an offer to buy
or the solicitation of an offer to subscribe for or sell or an invitation to
purchase or subscribe for any securities or the solicitation of any vote in
any jurisdiction. The release, publication or distribution of this
communication in whole or in part, directly or indirectly, in, into or from
certain jurisdictions may be restricted by law and therefore persons in such
jurisdictions should inform themselves about and observe such restrictions.

The distribution of this announcement in jurisdictions outside the United
Kingdom may be restricted by law and, therefore, persons into whose possession
this announcement comes should inform themselves about, and observe, such
restrictions. Any failure to comply with the restrictions may constitute a
violation of the securities law of any such jurisdictions. To the fullest
extent permitted by applicable law, the companies and persons involved in the
possible offer disclaim any responsibility or liability for the violation of
such requirements by any person.

This announcement is not intended to, and does not, constitute or form part of
any offer, invitation or solicitation of any offer to purchase, otherwise
acquire, subscribe for, sell or otherwise dispose of, any securities or the
solicitation of any vote or approval in any jurisdiction, whether pursuant to
this announcement or otherwise.

Investec Bank PLC ("Investec"), which is authorised by the Prudential
Regulation Authority and regulated by the Financial Conduct Authority and the
Prudential Regulation Authority in the UK, is acting as financial adviser
exclusively for PMI and no one else in connection with the matters set out in
this announcement and will not be responsible to any person other than PMI for
providing the protections afforded to clients of Investec, nor for providing
advice in relation to the content of this announcement or any matter referred
to herein. Neither Investec nor any of its subsidiaries, branches or
affiliates owes or accepts any duty, liability or responsibility whatsoever
(whether direct or indirect, whether in contract, in tort, under statute or
otherwise) to any person who is not a client of Investec in connection with
this announcement, any statement contained herein or otherwise.

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