AssetCo AGM: 'Overwhelming' support for River and Mercantile reverse takeover

100% shareholder approval

AssetCo’s reverse takeover of River and Mercantile Group received 100% shareholder approval at its annual general meeting today (13 April), in what CEO Martin Gilbert has called a display of “overwhelming support”.

Following the announcement from AssetCo's board and the independent directors of R&M in January this year, an agreement was reached that an all-share acquisition would take place, with full details published by R&M last month. Today, AssetCo shareholders cast more than 6 million votes, both on the acquisition itself and to authorise the company directors to allot ordinary shares in the capital of the company - or to grant rights to convert any security into ordinary shares - up to the amount of £624,448.80. AssetCo 2021 results: Pre-tax profits and share price quadruple In both ins...