River Global PLC (RVRB) has disclosed that North Atlantic Smaller Companies Investment Trust PLC, a person closely associated (PCA) with director Christopher Mills, purchased 1,586,000 B Shares on 6 November 2026 at 33.40 pence per share, representing a total consideration of £529,725. The announcement, published on 13 November 2026, also corrects a previous disclosure dated 5 November 2026, which overstated a prior purchase by one million B Shares. Following this transaction, Christopher Mills and his associated entities hold significant voting interests across both classes of River Global shares, making this a notable insider-activity update for investors monitoring the company's shareholder register.

Key Points

  • River Global PLC (RVRB), chaired by Martin Gilbert, listed on the London Stock Exchange
  • North Atlantic Smaller Companies Investment Trust PLC, PCA to Christopher Mills, purchased 1,586,000 B Shares at 33.40p on 6 November 2026
  • Total consideration for the purchase was £529,725; combined Mills-linked interests now stand at 16.79% of A Ordinary Share voting rights and 29.51% of B Share voting rights
  • Investors should watch for further PDMR activity and any updated regulatory filings reflecting corrected historical holdings

North Atlantic Smaller Companies Trust Acquires 1,586,000 River Global B Shares at 33.40p

The transaction, conducted on the London Stock Exchange on 6 November 2026, saw North Atlantic Smaller Companies Investment Trust PLC acquire 1,586,000 B Shares in River Global at a price of 33.40 pence each. The aggregate consideration totalled £529,725. The B Shares carry an identification code of GB00BTDR2S27 and have a nominal value of £0.005 each. North Atlantic Smaller Companies Investment Trust PLC acts as a person closely associated with Christopher Mills, who holds a position as a person discharging managerial responsibilities (PDMR) at River Global PLC.

Christopher Mills's Combined River Global Stake After the 6 November Purchase

Following the purchase, Christopher Mills and all his associated entities collectively hold 26,964,500 A Ordinary Shares, equating to 16.79% of voting rights in that share class after adjusting for treasury shares, and 43,647,500 B Shares, equating to 29.51% of B Share voting rights on the same basis. These interests are spread across four associated vehicles: North Atlantic Smaller Companies Investment Trust PLC, Harwood Capital LLP, Oryx International Growth Fund Limited, and Eveswise Pension Trustees, as detailed in the announcement's disclosure table.

River Global Corrects 5 November 2026 Announcement on Prior B Share Purchase

The 13 November disclosure also formally corrects an error in a Company announcement dated 5 November 2026. That earlier filing stated that North Atlantic Smaller Companies Investment Trust PLC had purchased 1,964,000 B Shares on 30 October 2026. The announcement confirms the correct figure was 964,000 B Shares, meaning the previously stated holding was overstated by exactly 1,000,000 B Shares. The current notification is classified as an initial notification under Market Abuse Regulation requirements rather than an amendment to that prior filing.

River Global's Structure and Investor Context

River Global PLC, chaired by Martin Gilbert and advised by Panmure Liberum Limited as nominated adviser and broker, operates with a dual share class structure comprising A Ordinary Shares and B Shares. The concentration of voting rights linked to Christopher Mills across multiple associated entities at above 16% and 29% respectively in each class is a material governance consideration for existing and prospective shareholders. Investors monitoring insider activity at the company may note the scale and consistency of purchasing by Mills-connected vehicles across recent weeks.